Madison Square Garden Co (NYSE:MSG) Director Sells $250,968.96 in Stock

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Madison Square Garden Co (NYSE:MSG) Director Richard D. Parsons sold 816 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $307.56, for a total value of $250,968.96. Following the completion of the transaction, the director now directly owns 3,663 shares of the company’s stock, valued at $1,126,592.28. The sale was disclosed in a filing with the SEC, which is available at this link.

NYSE MSG opened at $307.49 on Friday. Madison Square Garden Co has a one year low of $247.57 and a one year high of $315.95. The stock’s 50 day simple moving average is $298.72 and its 200 day simple moving average is $279.38. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.55 and a current ratio of 1.62.

Madison Square Garden (NYSE:MSG) last released its quarterly earnings results on Friday, February 7th. The company reported $3.93 EPS for the quarter, topping the Zacks’ consensus estimate of $2.41 by $1.52. The business had revenue of $628.80 million for the quarter, compared to analyst estimates of $635.93 million. Madison Square Garden had a negative return on equity of 0.90% and a negative net margin of 1.47%. Madison Square Garden’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the company earned $3.42 EPS. As a group, equities research analysts forecast that Madison Square Garden Co will post -1.19 EPS for the current fiscal year.

MSG has been the topic of a number of research analyst reports. ValuEngine lowered Madison Square Garden from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 21st. Imperial Capital increased their price target on Madison Square Garden from $357.00 to $360.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Jefferies Financial Group initiated coverage on Madison Square Garden in a research report on Tuesday, December 17th. They set a “buy” rating and a $370.00 price target on the stock. Finally, Oppenheimer initiated coverage on Madison Square Garden in a research report on Thursday, January 23rd. They set an “outperform” rating and a $365.00 price target on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $351.67.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MSG. Hudock Capital Group LLC boosted its position in Madison Square Garden by 122.2% in the 3rd quarter. Hudock Capital Group LLC now owns 100 shares of the company’s stock valued at $26,000 after buying an additional 55 shares during the last quarter. Citizens Financial Group Inc RI bought a new position in Madison Square Garden in the 3rd quarter valued at $26,000. Usca Ria LLC bought a new position in Madison Square Garden in the 3rd quarter valued at $40,000. CWM LLC boosted its position in Madison Square Garden by 2,157.1% in the 4th quarter. CWM LLC now owns 158 shares of the company’s stock valued at $46,000 after buying an additional 151 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in Madison Square Garden by 1,040.0% in the 4th quarter. Quadrant Capital Group LLC now owns 171 shares of the company’s stock valued at $49,000 after buying an additional 156 shares during the last quarter. Institutional investors and hedge funds own 70.32% of the company’s stock.

About Madison Square Garden

The Madison Square Garden Company, together with its subsidiaries, engages in live sports and entertainment businesses in the United States. The company operates in two segments, MSG Sports and MSG Entertainment. The MSG Sports segment owns and operates professional sports franchises; and promotes, produces, and/or presents an array of other live sporting events, including professional boxing, college basketball, college hockey, professional bull riding, mixed martial arts, esports, tennis, and college wrestling.

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