Madison Square Garden Co (NYSE:MSG) President Andrew Lustgarten Sells 5,349 Shares

Madison Square Garden Co (NYSE:MSG) President Andrew Lustgarten sold 5,349 shares of Madison Square Garden stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $302.92, for a total value of $1,620,319.08. The transaction was disclosed in a document filed with the SEC, which is available through this link.

MSG opened at $307.11 on Friday. Madison Square Garden Co has a fifty-two week low of $247.57 and a fifty-two week high of $315.95. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.55 and a current ratio of 1.55. The company has a market capitalization of $7.32 billion, a P/E ratio of -298.17 and a beta of 0.57. The stock has a fifty day moving average of $298.51 and a 200-day moving average of $279.29.

Madison Square Garden (NYSE:MSG) last posted its earnings results on Friday, February 7th. The company reported $3.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.41 by $1.52. Madison Square Garden had a negative return on equity of 0.90% and a negative net margin of 1.47%. The company had revenue of $628.80 million during the quarter, compared to the consensus estimate of $635.93 million. During the same quarter last year, the firm earned $3.42 earnings per share. The company’s revenue was down .5% on a year-over-year basis. On average, equities research analysts predict that Madison Square Garden Co will post -2 earnings per share for the current fiscal year.

A number of equities research analysts have recently weighed in on MSG shares. Oppenheimer started coverage on Madison Square Garden in a report on Thursday, January 23rd. They set an “outperform” rating and a $365.00 target price for the company. Imperial Capital lifted their target price on Madison Square Garden from $357.00 to $360.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Jefferies Financial Group started coverage on Madison Square Garden in a report on Tuesday, December 17th. They set a “buy” rating and a $370.00 target price for the company. Finally, ValuEngine downgraded Madison Square Garden from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 21st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $351.67.

Hedge funds have recently bought and sold shares of the stock. Hudock Capital Group LLC raised its stake in Madison Square Garden by 122.2% in the third quarter. Hudock Capital Group LLC now owns 100 shares of the company’s stock valued at $26,000 after purchasing an additional 55 shares in the last quarter. Citizens Financial Group Inc RI acquired a new position in Madison Square Garden in the third quarter valued at about $26,000. Usca Ria LLC acquired a new position in Madison Square Garden in the third quarter valued at about $40,000. CWM LLC raised its stake in Madison Square Garden by 2,157.1% in the fourth quarter. CWM LLC now owns 158 shares of the company’s stock valued at $46,000 after purchasing an additional 151 shares in the last quarter. Finally, Vigilant Capital Management LLC acquired a new position in Madison Square Garden in the fourth quarter valued at about $50,000. 70.32% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden Company Profile

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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