Madison Square Garden Target of Unusually Large Options Trading (MSG)

Madison Square Garden Co (NYSE:MSG) was the target of unusually large options trading activity on Tuesday. Investors purchased 698 put options on the stock. This is an increase of approximately 1,103% compared to the average daily volume of 58 put options.

Several institutional investors have recently bought and sold shares of MSG. Ladenburg Thalmann Financial Services Inc. increased its holdings in Madison Square Garden by 78.9% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 592 shares of the company’s stock valued at $127,000 after buying an additional 261 shares during the period. Cerebellum GP LLC purchased a new position in Madison Square Garden during the fourth quarter valued at approximately $127,000. The Manufacturers Life Insurance Company increased its holdings in Madison Square Garden by 5.6% during the second quarter. The Manufacturers Life Insurance Company now owns 751 shares of the company’s stock valued at $148,000 after buying an additional 40 shares during the period. Investment House LLC purchased a new position in Madison Square Garden during the third quarter valued at approximately $203,000. Finally, Bluestein R H & Co. purchased a new position in Madison Square Garden during the third quarter valued at approximately $214,000. 69.05% of the stock is owned by hedge funds and other institutional investors.

Madison Square Garden (MSG) traded up $9.93 during trading on Wednesday, hitting $219.96. 421,709 shares of the stock traded hands, compared to its average volume of 205,197. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.04. Madison Square Garden has a 1 year low of $173.56 and a 1 year high of $231.44. The company has a market capitalization of $4,916.87, a P/E ratio of 67.31 and a beta of 0.99.

Madison Square Garden (NYSE:MSG) last posted its quarterly earnings results on Friday, February 2nd. The company reported $3.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $1.32. Madison Square Garden had a net margin of 5.21% and a negative return on equity of 1.00%. The firm had revenue of $536.30 million during the quarter, compared to the consensus estimate of $523.45 million. During the same quarter in the previous year, the firm posted $2.39 earnings per share. The company’s revenue was up 20.5% on a year-over-year basis. research analysts expect that Madison Square Garden will post 0.75 earnings per share for the current year.

Several analysts have issued reports on the stock. ValuEngine raised shares of Madison Square Garden from a “sell” rating to a “hold” rating in a research note on Monday, February 5th. Zacks Investment Research raised shares of Madison Square Garden from a “hold” rating to a “buy” rating and set a $235.00 price objective for the company in a research note on Thursday, January 4th. TheStreet raised shares of Madison Square Garden from a “c” rating to a “b” rating in a research note on Friday, February 2nd. Loop Capital lifted their price target on shares of Madison Square Garden from $266.00 to $268.00 and gave the company a “buy” rating in a research note on Monday, November 6th. Finally, Morgan Stanley downgraded shares of Madison Square Garden from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $218.50 to $245.00 in a research note on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $223.63.

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About Madison Square Garden

The Madison Square Garden Company is a holding company, which is engaged in live experiences consisting of celebrated venues, sports teams, and entertainment productions. The Company operates in two segments, which include MSG Entertainment and MSG Sports. The MSG Sports segment includes the Company’s professional sports franchises, which include the New York Knicks (the Knicks) of the National Basketball Association (the NBA), the New York Rangers (the Rangers) of the National Hockey League (the NHL), the New York Liberty (the Liberty) of the Women’s National Basketball Association (the WNBA), the Hartford Wolf Pack of the American Hockey League (the AHL), which is the primary player development team for the Rangers, and the Westchester Knicks, an NBA Development League team.

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