Manchester United (NYSE:MANU) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Manchester United plc (NYSE:MANU)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.79 and traded as high as $16.89. Manchester United shares last traded at $16.59, with a volume of 167,233 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. UBS Group began 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 on the stock. StockNews.com upgraded shares of Manchester United to a “sell” rating in a research note on Wednesday, December 4th.

Manchester United Price Performance

The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of -24.48 and a beta of 0.66. The company has a current ratio of 0.36, a quick ratio of 0.35 and a debt-to-equity ratio of 3.25. The company’s 50 day simple moving average is $17.20 and its 200-day simple moving average is $16.79.

Hedge Funds Weigh In On Manchester United

Several institutional investors and hedge funds have recently bought and sold shares of MANU. XTX Topco Ltd acquired a new position in shares of Manchester United in the 2nd quarter valued at about $364,000. Nkcfo LLC purchased a new position in Manchester United in the second quarter valued at approximately $113,000. Gabelli Funds LLC lifted its position in Manchester United by 10.7% during the second quarter. Gabelli Funds LLC now owns 377,383 shares of the company’s stock valued at $6,091,000 after buying an additional 36,507 shares in the last quarter. Ariel Investments LLC grew its stake in Manchester United by 50.9% during the second quarter. Ariel Investments LLC now owns 8,007,070 shares of the company’s stock worth $129,234,000 after buying an additional 2,700,337 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Manchester United in the 2nd quarter valued at $686,000. Institutional investors and hedge funds 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.