Manchester United (NYSE:MANU) Reaches New 52-Week Low – Here’s Why

Manchester United plc (NYSE:MANU) hit a new 52-week low during trading on Monday . The company traded as low as $12.28 and last traded at $12.40, with a volume of 49541 shares trading hands. The stock had previously closed at $12.71.

Analyst Upgrades and Downgrades

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

Manchester United Stock Performance

The business has a 50 day moving average of $14.57 and a 200-day moving average of $15.97. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.35 and a current ratio of 0.41. The company has a market capitalization of $2.14 billion, a P/E ratio of -12.45 and a beta of 0.64.

Manchester United (NYSE:MANU) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.02. The company had revenue of $254.62 million during the quarter, compared to analysts’ expectations of $248.15 million. Manchester United had a negative net margin of 21.46% and a negative return on equity of 44.76%. On average, sell-side analysts predict that Manchester United plc will post -0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Infinitum Asset Management LLC bought a new position in shares of Manchester United in the 4th quarter worth $6,420,000. Lancaster Investment Management boosted its holdings in shares of Manchester United by 45.2% in the 4th quarter. Lancaster Investment Management now owns 816,351 shares of the company’s stock worth $14,164,000 after purchasing an additional 254,280 shares in the last quarter. Breach Inlet Capital Management LLC raised its holdings in shares of Manchester United by 58.0% during the 4th quarter. Breach Inlet Capital Management LLC now owns 664,856 shares of the company’s stock valued at $11,535,000 after buying an additional 243,977 shares in the last quarter. Antara Capital LP lifted its position in 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 buying an additional 164,450 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Manchester United by 24.5% in the third quarter. Janus Henderson Group PLC now owns 614,965 shares of the company’s stock worth $9,950,000 after buying an additional 121,211 shares in the last quarter. 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.