The Madison Square Garden Co. (MSG) Sees Large Volume Increase
The Madison Square Garden Co. (NYSE:MSG) saw unusually-high trading volume on Friday . Approximately 143,509 shares traded hands during mid-day trading, an increase of 69% from the previous session’s volume of 84,981 shares.The stock last traded at $183.29 and had previously closed at $184.40.
MSG has been the subject of a number of analyst reports. Zacks Investment Research cut The Madison Square Garden from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. Loop Capital began coverage on The Madison Square Garden in a research note on Tuesday, August 9th. They issued a “buy” rating for the company. Finally, Albert Fried & Company reaffirmed a “hold” rating and issued a $170.00 price objective on shares of The Madison Square Garden in a research note on Thursday, June 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $125.08.
The stock’s 50 day moving average price is $177.86 and its 200 day moving average price is $165.43. The company’s market cap is $4.48 billion.
The Madison Square Garden Company, formerly MSG Spinco, Inc, is engaged in sports and entertainment business. The Company operates through two segments: MSG Sports and MSG Entertainment. MSG Sports segment includes sports business, which owns and operates the sports franchises, such as the New York Knicks (the Knicks) of the National Basketball Association (the NBA) and the New York Rangers (the Rangers) of the National Hockey League (the NHL).
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