The Madison Square Garden Co. (MSG) Sees Unusually-High Trading Volume
The Madison Square Garden Co. (NYSE:MSG) shares saw unusually-strong trading volume on Friday . Approximately 143,509 shares changed 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.
Several analysts have commented on MSG shares. Zacks Investment Research lowered The Madison Square Garden from a “hold” rating to a “sell” rating in a report on Thursday, May 12th. Loop Capital started coverage on The Madison Square Garden in a report on Tuesday. They issued a “buy” rating on the stock. Finally, Albert Fried & Company reissued a “hold” rating and issued a $170.00 price objective on shares of The Madison Square Garden in a report on Thursday, June 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. The Madison Square Garden presently has an average rating of “Hold” and a consensus price target of $125.08.
The company has a 50-day moving average price of $177.60 and a 200 day moving average price of $165.21. 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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