Manchester United (NYSE:MANU) Sees Large Volume Increase – Should You Buy?

Shares of Manchester United Ltd. (NYSE:MANU) saw unusually-high trading volume on Thursday . Approximately 496,499 shares were traded during trading, an increase of 57% from the previous session’s volume of 315,703 shares.The stock last traded at $15.77 and had previously closed at $15.39.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MANU shares. Wall Street Zen downgraded Manchester United from a “hold” rating to a “strong sell” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Manchester United in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $23.00.

Manchester United Stock Down 2.2%

The business has a 50-day moving average price of $16.28 and a 200 day moving average price of $16.63. The company has a current ratio of 0.38, a quick ratio of 0.36 and a debt-to-equity ratio of 2.44. The stock has a market capitalization of $2.66 billion, a P/E ratio of -49.76 and a beta of 0.58.

Manchester United (NYSE:MANU) last released its quarterly earnings data on Thursday, December 11th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.10). Manchester United had a negative net margin of 6.14% and a negative return on equity of 10.22%. The business had revenue of $188.66 million for the quarter, compared to the consensus estimate of $191.16 million. On average, equities analysts expect that Manchester United Ltd. will post -0.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Manchester United

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL purchased a new position in shares of Manchester United in the 3rd quarter worth approximately $1,110,000. Saranac Partners Ltd bought a new stake in Manchester United in the third quarter worth $169,000. Mariner LLC boosted its stake in Manchester United by 11.4% during the third quarter. Mariner LLC now owns 56,009 shares of the company’s stock worth $848,000 after buying an additional 5,738 shares during the period. Harvey Partners LLC increased its position in Manchester United by 15.8% during the third quarter. Harvey Partners LLC now owns 1,102,500 shares of the company’s stock valued at $16,692,000 after acquiring an additional 150,802 shares during the last quarter. Finally, Cooperman Leon G raised its stake in shares of Manchester United by 0.6% in the third quarter. Cooperman Leon G now owns 2,857,877 shares of the company’s stock valued at $43,268,000 after acquiring an additional 18,140 shares during the period. 23.34% of the stock is currently owned by hedge funds and other institutional investors.

About Manchester United

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.