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

Manchester United plc (NYSE:MANU) shares 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 changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. UBS Group started coverage on Manchester United in a research report on Tuesday, December 17th. They set a “buy” rating and a $23.00 target price on the stock. StockNews.com upgraded shares of Manchester United to a “sell” rating in a report on Wednesday, December 4th.

Manchester United Stock Up 0.6 %

The stock has a market capitalization of $2.91 billion, a P/E ratio of -26.01 and a beta of 0.68. The company has a debt-to-equity ratio of 3.25, a current ratio of 0.36 and a quick ratio of 0.35. The stock has a fifty day moving average price of $16.98 and a 200 day moving average price of $16.74.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Pinnacle Associates Ltd. grew its holdings in shares of Manchester United by 15.9% during the second quarter. Pinnacle Associates Ltd. now owns 1,351,534 shares of the company’s stock worth $21,814,000 after purchasing an additional 185,271 shares in the last quarter. XTX Topco Ltd bought a new stake in Manchester United during the second quarter valued at approximately $364,000. Nkcfo LLC purchased a new position in Manchester United in the 2nd quarter worth approximately $113,000. Gabelli Funds LLC increased its holdings in shares of 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 buying an additional 36,507 shares during the last quarter. Finally, Ariel Investments LLC raised its position in shares of 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. Institutional investors own 23.34% of the company’s stock.

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.