CEO Outlook Magazine

Manchester United Stock Soars 13.76% During the Day

Manchester United Stock Soars 13.76% During the Day; New Owner on the Horizon

June 15, 2023: The stock of Manchester United PLC (NYSE: MANU) experienced a significant increase of more than 13.76%. On June 13, it started trading at $22.33, reaching a peak of $23.17 before dropping to $21.59 and eventually closing at $22.90.

During Tuesday’s trading session, MANU stock gained $2.77, with more active buyers than sellers. Over the week, MANU stock surged by 27.01%, and in the month, it increased by 24.46% in value.

Earlier on June 13, the stock rose by 3.98%. It began trading at $19.16, hitting a low of $18.80, reaching a high of $20.23, and ending the session at $20.13.

Year-to-date, MANU stock has seen a decline of 2.26%, but its annual growth stands at an impressive 100.88%. Based on technical indicators, now might be an opportune time to consider purchasing Manchester United PLC stock.

Market analysts are optimistic about the stock’s future. The pre-market opening price is expected to be $23.00 higher than the previous closing price.

Recent News: Manchester United PLC’s New Owner
The recent increase in Manchester United PLC stock is a response to the successful bid made by Sheikh Jassim, a wealthy Qatari businessman, to become the team’s new owner. This news has generated excitement among stock investors worldwide.

Manchester United PLC (MANU) Earnings and Revenue
In the first quarter of 2023, Manchester United PLC reported revenue that exceeded estimates by 10.33%. The projected revenue for Q1 was $145.36 million, but the actual reported revenue amounted to $160.37 million.

Similarly, in the second quarter, revenue surpassed projections by 19.41%. The estimated revenue for Q2 was $168.74 million, while the reported revenue reached $201.50 million.

Earnings Per Share (EPS) showed a significant increase of 44.73% in Q1 2023 compared to projected figures. However, in Q2, the EPS decreased by -518.00% compared to the estimates. Currently, there are 113.117 million closely held MANU shares, with 49.945 million available for market trading.

The overall market capitalization of Manchester United PLC is $3.734 billion. The company derives its revenue from commercials, broadcasting, and matchday activities, with all of its revenue coming from the United Kingdom.

In 2022, MANU incurred losses of -19.81% and recorded revenue of -153.53 million. The annual estimated price target for MANU stock is $24.95.

Institutional shareholders of Manu include 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, among others.

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