How’s Manchester United (MANU) Stock Doing After Q3 2023?

Manchester (NYSE: MANU) stock price performed bullish since the last 1-month which supported its price to reach almost near to its overbought zone. Before the company released its Q3 2023 reports, MANU stock price showed a little rise in its trading volume which then slid down.

When the company released its Q3 2023 reports late last month, MANU share price rose nearly to $25.00 with bulls dominating. With just 2-days of bullish outlook, MANU share price started showing bears dominance which now shows the downside outlook of MANU stock.

MANU Stock Price Analysis

In the most recent trading session, July 11, 2023, MANU stock price opened at $23.24 by giving a high at $23.50 and a low at $22.53. During the intraday session, MANU share price declined 1.86% and closed at $22.75. Meanwhile, the weekly price analysis also showed almost 7% of price decline, according to TradingView, a web-based social network for traders.

As shown in the above price chart, MANU stock price has surpassed its 20-day moving average. Notably, since the beginning of this week, bears have taken over control of the market and it seems like they are trying to pull down the MANU stock price.

Q3 2023 Highlights of Manchester United

Manchester United PLC released its third quarter (Q3) 2023 reports on June 27, 2023. As per the reports, its net income of Q3 2023 is negative $6.74 Million. The reported earnings per share (EPS) is negative $0.09 while the estimate was negative $0.05. Also, the company reported its revenue is $209.66 Million however the estimate was $168.96 Million.

For the upcoming quarterly (Q4) reports, the estimated EPS is negative $0.05. However, the revenue is expected to reach $195.47 Million in Q4 2023.

Last year, the revenue of Manchester United reached $709.81 Million USD. Out of which, $342.67 Million came from its highest performing source at the moment, Commercial. The U.K. made the greatest contribution to the revenue figure last year; it brought Manchester United to $775.14 Million.

Know More About Manchester United

Manchester United (NYSE: MANU), a sports teams and clubs company, has a market cap of nearly $3.71 Billion. The company also manages the operations of a professional sports team. Some of its subsidiaries are Manchester United Football Club Limited, Red Football Shareholder Limited, Manchester United Television Ltd., Alderley Urban Investments Limited, and Manchester United Interactive Limited.

As per the data sourced from Yahoo Finance, the U.S.-based business news platform, major shareholders of Manchester United PLC are from institutions that held nearly 88% of its shares. Lindsell Train Limited, Ariel Investments, and Eminence Capital are leading 3-institutional holders of Manchester United.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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