Manchester United PLC (NYSE: MANU) stock jumped more than 13.76%. On June 13, it opened at $22.33 after hitting a high of $23.17. It then slipped to $21.59 and finally closed at $22.90.
MANU stock added $2.77 in Tuesday’s trading session; in the same session, there were more active buyers compared to sellers. In weekly trading sessions MANU stock surged 27.01% and in monthly trading sessions it added 24.46% to its trading prices.
Earlier, on June 13, MANU stock rose by 3.98%. It opened trading at $19.16 and slipped as low as $18.80. It marked a high of $20.23 and closed trading at $20.13.
YTD of MANU stock shows a decline of 2.26%. The yearly growth of the stock is 100.88%. As per technical indicators, it could be the best time to buy Manchester United PLC stock.
Stock market analysts are bullish on the stock. The pre-market opening price will be $23.00 higher than its last closing price.
Manchester United PLC Recent News
The upward trend in Manchester United PLC stock is a reaction to the recent auction which was won by a Qatari centibillionaire.
Sheikh Jassim, a renowned banker and Qatari business tycoon has won the bid to become the new owner of Manchester United PLC. This news has resulted in scattered enthusiasm among stock investors globally.
Manchester United PLC (MANU stock) Earnings and Revenue
In the first quarter of 2023, Manchester United PLC reported 10.33% more than the estimated figure. The projected revenue for Q1 was $145.36 Million and the reported revenue was $160.37 Million.
Similarly, Q2 revenue beat the projected figures by 19.41%; MANU’s estimated revenue for the quarter was $168.74 Million while the reported revenue was $201.50 Million.
Earnings Per Share (EPS) surged by 44.73% in Q1 2023 compared to the projected EPS, but in Q2, EPS decreased by -518.00% compared to the estimated figures. Over 113.117 Million MANU Shares are closely held and 49.945 Million shares are available for trading in the market.
Manchester United PLC’s overall market capitalization is $3.734 Billion. Its major sources of revenue are commercials, broadcasting, and matchday activities, and 100% of its revenue is gathered from the United Kingdom.
In the financial year 2022, MANU registered -19.81% of losses and its revenue was -153.53 Million. The yearly estimated price target of MANU stock is $24.95.
Manu’s Institutional shareholders are Lindsell Train Ltd, Ariel Investment Llc, Morgan Stanley, Millennium Management Llc, Massachusetts Financial Services, Pinnacle Associates Ltd, Antara Capital Lp, Governors Lane Lp, Goldman Sachs, Eagle Asset Management Inc, and numerous others.
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 assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/06/14/manu-stock-rose-13-76-intraday-ready-to-welcome-new-owner/