Madison Square Garden Co (MSG) was Downgraded by Jefferies to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Jefferies advised their investors in a research report released on Aug 22, 2016.
Many Wall Street Analysts have commented on Madison Square Garden Co. Madison Square Garden Co was Initiated by Loop Capital to “Buy” on Aug 9, 2016.
On the company’s financial health, Madison Square Garden Co reported $-2.39 EPS for the quarter, missing the analyst consensus estimate by $ -1.55 based on the information available during the earnings call on Aug 19, 2016. Analyst had a consensus of $-0.84. The company had revenue of $217.80 million for the quarter, compared to analysts expectations of $217.98 million. The company’s revenue was down -14.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.60 EPS.
Madison Square Garden Co closed down -3.93 points or -2.09% at $184.19 with 3,77,961 shares getting traded on Friday. Post opening the session at $183.12, the shares hit an intraday low of $178 and an intraday high of $187.12 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Nov 13, 2015, Vincent Tese (director) sold 2,500 shares at $174.22 per share price. According to the SEC, on Sep 8, 2015, Wilton J. Jr. Hildenbrand (director) sold 2,944 shares at $71.93 per share price. On Aug 26, 2015, Richard D Parsons (director) sold 5,050 shares at $69.52 per share price, according to the Form-4 filing with the securities and exchange commission.
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). In addition MSG Sports promotes produces and presents an array of other live sporting events including professional boxing college basketball professional bull riding and tennis. MSG Entertainment includes entertainment business which presents or hosts live entertainment events including concerts family shows performing arts and special events. Those venues include The Garden The Theater at Madison Square Garden Radio City Music Hall and the Beacon Theatre. MSG Entertainment also creates produces and presents live productions.