Manchester United (NYSE:MANU) Shares Gap Up - Here's What Happened

Manchester United plc (NYSE:MANU - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $13.81, but opened at $15.35. Manchester United shares last traded at $15.69, with a volume of 413,572 shares trading hands.Get Manchester United alerts:Wall Street Analysts Forecast GrowthSeparately, Wall Street Zen raised Manchester United from a "sell" rating to a "hold" rating in a report on Saturday, May 31st.View Our Latest Stock Report on Manchester UnitedManchester United Trading Up 13.0%The company has a quick ratio of 0.35, a current ratio of 0.41 and a debt-to-equity ratio of 2.62. The company has a market capitalization of $2.64 billion, a PE ratio of -15.37 and a beta of 0.59. The firm's 50 day simple moving average is $13.79 and its 200-day simple moving average is $15.14. Institutional Investors Weigh In On Manchester UnitedSeveral hedge funds and other institutional investors have recently bought and sold shares of MANU. Blue Trust Inc. lifted its position in shares of Manchester United by 186.9% in the fourth quarter. Blue Trust Inc. now owns 4,232 shares of the company's stock worth $68,000 after purchasing an additional 2,757 shares in the last quarter. Bleakley Financial Group LLC lifted its position in Manchester United by 23.8% in the fourth quarter. Bleakley Financial Group LLC now owns 23,992 shares of the company's stock worth $416,000 after purchasing an additional 4,606 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Manchester United by 129.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,109 shares of the company's stock valued at $37,000 after purchasing an additional 1,188 shares during the period. Lancaster Investment Management raised its stake in shares of Manchester United by 45.2% in the fourth quarter. Lancaster Investment Management now owns 816,351 shares of the company's stock valued at $14,164,000 after acquiring an additional 254,280 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Manchester United during the fourth quarter worth approximately $156,000. 23.34% of the stock is currently owned by institutional investors. Manchester United Company Profile (Get Free Report)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.Featured ArticlesFive stocks we like better than Manchester UnitedWhat Investors Need to Know to Beat the MarketAre NVIDIA's Ethernet Wins Signs of Hope or Horror for Arista?NYSE Stocks Give Investors a Variety of Quality Options Broadcom Slides on Solid Earnings, AI Outlook Still Strong3 Must-Buy Warren Buffett Stocks for Volatile TimesThe Market’s Silent Warning: What Bonds and Gold RevealThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Manchester United Right Now?Before you consider Manchester United, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Manchester United wasn't on the list.While Manchester United currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here