Manchester United (NYSE:MANU) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Manchester United plc (NYSE:MANU)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.74 and traded as high as $17.20. Manchester United shares last traded at $17.17, with a volume of 55,874 shares.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. StockNews.com raised Manchester United to a “sell” rating in a report on Wednesday, December 4th. UBS Group assumed coverage on shares of Manchester United in a research note on Tuesday, December 17th. They issued a “buy” rating and a $23.00 price objective for the company.

Manchester United Trading Down 0.3 %

The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.35 and a current ratio of 0.36. The stock has a fifty day moving average of $17.00 and a 200 day moving average of $16.75. The company has a market capitalization of $2.90 billion, a PE ratio of -25.94 and a beta of 0.68.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MANU. Janus Henderson Group PLC boosted its holdings in Manchester United by 24.5% during the 3rd quarter. Janus Henderson Group PLC now owns 614,965 shares of the company’s stock valued at $9,950,000 after acquiring an additional 121,211 shares during the period. Ariel Investments LLC lifted its holdings in Manchester United by 50.9% during the 2nd quarter. Ariel Investments LLC now owns 8,007,070 shares of the company’s stock valued at $129,234,000 after buying an additional 2,700,337 shares in the last quarter. Harvey Partners LLC boosted its position in Manchester United by 156.9% in the 3rd 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. Gabelli Funds LLC grew its stake in Manchester United by 10.7% in the 2nd quarter. Gabelli Funds LLC now owns 377,383 shares of the company’s stock worth $6,091,000 after acquiring an additional 36,507 shares in the last quarter. Finally, Lancaster Investment Management purchased a new position in shares of Manchester United during the third quarter worth approximately $9,094,000. 23.34% of the stock is currently owned by 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.