Manchester United (NYSE:MANU) Reaches New 1-Year Low – Here’s Why

Manchester United plc (NYSE:MANU)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $13.05 and last traded at $13.15, with a volume of 28157 shares. The stock had previously closed at $13.43.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MANU shares. StockNews.com raised shares of Manchester United to a “sell” rating in a research note on Tuesday, January 21st. UBS Group initiated coverage on shares of Manchester United in a research report on Tuesday, December 17th. They issued a “buy” rating and a $23.00 target price for the company.

Manchester United Stock Performance

The company has a market capitalization of $2.23 billion, a P/E ratio of -12.93 and a beta of 0.66. The company’s 50 day moving average is $14.88 and its 200-day moving average is $16.08. The company has a current ratio of 0.41, a quick ratio of 0.35 and a debt-to-equity ratio of 2.62.

Manchester United (NYSE:MANU) last released its earnings results on Wednesday, February 19th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. The firm had revenue of $254.62 million during the quarter, compared to analyst estimates of $248.15 million. Manchester United had a negative net margin of 21.46% and a negative return on equity of 44.76%. Equities analysts anticipate that Manchester United plc will post -0.74 EPS for the current fiscal year.

Institutional Trading of Manchester United

Several large investors have recently modified their holdings of MANU. Harvey Partners LLC grew its position in Manchester United by 156.9% during the third quarter. Harvey Partners LLC now owns 740,000 shares of the company’s stock valued at $11,973,000 after buying an additional 452,000 shares during the period. Infinitum Asset Management LLC purchased a new position in shares of Manchester United during the 4th quarter worth $6,420,000. Lancaster Investment Management grew its position in shares of Manchester United by 45.2% during the 4th quarter. Lancaster Investment Management now owns 816,351 shares of the company’s stock valued at $14,164,000 after acquiring an additional 254,280 shares during the period. Breach Inlet Capital Management LLC increased its stake in shares of Manchester United by 58.0% in the 4th quarter. Breach Inlet Capital Management LLC now owns 664,856 shares of the company’s stock worth $11,535,000 after purchasing an additional 243,977 shares in the last quarter. Finally, Antara Capital LP increased its stake in shares of Manchester United by 822.3% in the 4th quarter. Antara Capital LP now owns 184,450 shares of the company’s stock worth $3,200,000 after purchasing an additional 164,450 shares in the last quarter. Institutional investors own 23.34% of the company’s stock.

Manchester United Company Profile

Manchester United plc, together with its subsidiaries, owns and operates a professional sports team in the United Kingdom. It operates Manchester United Football Club, a professional football club. The company develops marketing and sponsorship relationships with international and regional companies to leverage its brand.