The Madison Square Garden Director Sells $214,218 in Stock (MSG)
The Madison Square Garden (NYSE:MSG) Director Wilton J. Jr. Hildenbrand sold 3,276 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $65.39, for a total value of $214,217.64. Following the completion of the transaction, the director now directly owns 31,042 shares of the company’s stock, valued at approximately $2,029,836. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
The Madison Square Garden (NYSE:MSG) traded up 0.75% during mid-day trading on Tuesday, hitting $66.76. 654,125 shares of the company’s stock traded hands. The Madison Square Garden has a 1-year low of $48.16 and a 1-year high of $67.04. The stock has a 50-day moving average of $61.34 and a 200-day moving average of $57.66. The company has a market cap of $5.154 billion and a price-to-earnings ratio of 45.07.
The Madison Square Garden (NYSE:MSG) last issued its quarterly earnings data on Wednesday, August 20th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.07. The company had revenue of $371.70 million for the quarter, compared to the consensus estimate of $348.78 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts predict that The Madison Square Garden will post $2.00 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on MSG shares. Analysts at ISI Group downgraded shares of The Madison Square Garden from a “buy” rating to a “neutral” rating in a research note on Friday. They now have a $66.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Macquarie reiterated a “neutral” rating on shares of The Madison Square Garden in a research note on Thursday, August 21st. They now have a $64.00 price target on the stock, up previously from $61.00. Finally, analysts at Stifel Nicolaus downgraded shares of The Madison Square Garden from a “buy” rating to a “hold” rating in a research note on Thursday, August 21st. They now have a $65.00 price target on the stock, up previously from $60.00. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $66.98.
The Madison Square Garden Company, is a holding company conducting its operations through direct and indirect subsidiaries.
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