The Madison Square Garden Company (NYSE:MSGS - Get Free Report) Director Charles Dolan sold 5,659 shares of the company's stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $325.26, for a total value of $1,840,646.34. Following the sale, the director owned 435 shares of the company's stock, valued at approximately $141,488.10. This trade represents a 92.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Madison Square Garden Stock Performance
Shares of MSGS stock opened at $313.83 on Wednesday. The stock's 50 day simple moving average is $277.92 and its 200 day simple moving average is $237.81. The Madison Square Garden Company has a twelve month low of $173.26 and a twelve month high of $345.46. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of -454.83 and a beta of 0.61.
Madison Square Garden (NYSE:MSGS - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.32). The business had revenue of $403.42 million during the quarter, compared to the consensus estimate of $394.58 million. During the same quarter in the previous year, the business posted $0.05 EPS. The firm's revenue was up 12.7% on a year-over-year basis. On average, analysts forecast that The Madison Square Garden Company will post 0.73 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
MSGS has been the topic of several research analyst reports. Guggenheim restated a "buy" rating on shares of Madison Square Garden in a research note on Thursday, February 5th. Citigroup boosted their price objective on shares of Madison Square Garden from $290.00 to $337.00 and gave the stock a "buy" rating in a report on Friday, February 13th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Madison Square Garden in a research report on Monday, December 29th. Wall Street Zen raised Madison Square Garden from a "strong sell" rating to a "hold" rating in a research report on Saturday, February 14th. Finally, Wolfe Research lowered Madison Square Garden from an "outperform" rating to a "hold" rating in a research note on Monday, December 15th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $286.00.
Read Our Latest Stock Report on MSGS
Institutional Trading of Madison Square Garden
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MSGS. Salomon & Ludwin LLC raised its position in Madison Square Garden by 33.1% in the fourth quarter. Salomon & Ludwin LLC now owns 157 shares of the company's stock worth $40,000 after purchasing an additional 39 shares in the last quarter. Allworth Financial LP grew its stake in shares of Madison Square Garden by 26.5% in the 4th quarter. Allworth Financial LP now owns 196 shares of the company's stock valued at $51,000 after purchasing an additional 41 shares during the period. Cibc World Market Inc. grew its stake in shares of Madison Square Garden by 2.3% in the 4th quarter. Cibc World Market Inc. now owns 1,924 shares of the company's stock valued at $498,000 after purchasing an additional 43 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Madison Square Garden by 2.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,746 shares of the company's stock worth $452,000 after buying an additional 45 shares in the last quarter. Finally, Independent Advisor Alliance lifted its position in shares of Madison Square Garden by 2.7% during the 3rd quarter. Independent Advisor Alliance now owns 1,765 shares of the company's stock worth $401,000 after buying an additional 46 shares during the period. Institutional investors own 68.94% of the company's stock.
About Madison Square Garden
(
Get Free Report)
Madison Square Garden Sports Corp (NYSE: MSGS) is a leading sports and entertainment holding company focused on professional sports franchises and related media assets. The company owns and operates teams such as the NBA's New York Knicks, the NHL's New York Rangers and the WNBA's New York Liberty. Through these flagship franchises, MSG Sports offers a range of products and services including ticketing, premium seating and sponsorship opportunities, targeting fans in the New York metropolitan area and beyond.
In addition to team operations, Madison Square Garden Sports Corp holds a majority stake in MSG Networks, a regional cable network that broadcasts live sporting events, news and original programming.
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