Madison Square Garden (NYSE:MSGS) Director Charles Dolan Sells 5,659 Shares of Stock

The Madison Square Garden Company (NYSE:MSGS) Director Charles Dolan sold 5,659 shares of Madison Square Garden stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $325.26, for a total transaction of $1,840,646.34. Following the transaction, the director directly owned 435 shares in the company, valued at $141,488.10. The trade was a 92.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Madison Square Garden Stock Performance

NYSE:MSGS traded down $0.26 during trading hours on Tuesday, hitting $313.83. The stock had a trading volume of 244,522 shares, compared to its average volume of 247,990. The business’s 50 day moving average is $276.35 and its 200-day moving average is $237.01. The company has a market cap of $7.55 billion, a price-to-earnings ratio of -454.83 and a beta of 0.61. The Madison Square Garden Company has a one year low of $173.26 and a one year high of $345.46.

Madison Square Garden (NYSE:MSGS) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.32). The firm had revenue of $403.42 million for the quarter, compared to the consensus estimate of $394.58 million. During the same period last year, the business earned $0.05 earnings per share. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, sell-side analysts anticipate that The Madison Square Garden Company will post 0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Madison Square Garden

Hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Madison Square Garden in the 2nd quarter valued at $288,000. Y Intercept Hong Kong Ltd grew its holdings in shares of Madison Square Garden by 775.0% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 16,888 shares of the company’s stock valued at $3,529,000 after acquiring an additional 14,958 shares in the last quarter. Advisors Capital Management LLC grew its holdings in shares of Madison Square Garden by 12.2% in the 2nd quarter. Advisors Capital Management LLC now owns 11,861 shares of the company’s stock valued at $2,478,000 after acquiring an additional 1,291 shares in the last quarter. Vise Technologies Inc. acquired a new stake in shares of Madison Square Garden in the second quarter valued at about $437,000. Finally, Greenland Capital Management LP bought a new stake in Madison Square Garden during the second quarter worth about $468,000. 68.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wolfe Research lowered Madison Square Garden from an “outperform” rating to a “hold” rating in a research report on Monday, December 15th. Wall Street Zen raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 14th. JPMorgan Chase & Co. lifted their price target on shares of Madison Square Garden from $240.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Guggenheim reiterated a “buy” rating on shares of Madison Square Garden in a report on Thursday, February 5th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Madison Square Garden in a report on Monday, December 29th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $280.00.

Madison Square Garden Company Profile

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.