The Madison Square Garden Company (MSG) : The total negative money flow of $3.13 million on Tuesday indicates selling on strength. The inflow of money on upticks was $5.98 million, compared to $9.12 million outflow on downticks, which confirms distribution in the stock. The up to down ratio was 0.66. The negative money flow of $3.93 million in block trades reveals that the informed traders sold the stock on every bit of price strength.The transaction value of block trade on downtick was $3.93 million. The price action in the The Madison Square Garden Company (MSG) stock suggests that both the bulls and the bears were in equilibrium. The stock traded at $182.37 with a gain of $1.84 , a change of 1.02% over the previous days close. The stock registered 1.5% for the week.
Also, Jefferies downgrades their rating on the shares of The Madison Square Garden Company (NASDAQ:MSG). The current rating of the shares is Hold. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on August 22, 2016.
Shares of The Madison Square Garden Company appreciated by 0.48% during the last five trading days but lost 0.48% on a 4-week basis. The Madison Square Garden Company is up 7.94% in the last 3-month period. Year-to-Date the stock performance stands at 12.71%.
The Madison Square Garden Company (NASDAQ:MSG): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $180.78 and $180.66 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $182.92. The buying momentum continued till the end and the stock did not give up its gains. It closed at $182.37, notching a gain of 1.02% for the day. The total traded volume was 161,053 . The stock had closed at $180.53 on the previous day.
In a related news, The Securities and Exchange Commission has divulged that Tese Vincent, director of Madison Square Garden Co, had unloaded 2,500 shares at an average price of $174.22 in a transaction dated on November 11, 2015. The total value of the transaction was worth $435,550.
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.