Madison Square Garden Co (NYSE:MSG) Short Interest Update

Madison Square Garden Co (NYSE:MSG) saw a significant decline in short interest in the month of November. As of November 29th, there was short interest totalling 972,800 shares, a decline of 16.9% from the November 14th total of 1,170,000 shares. Currently, 5.9% of the company’s shares are sold short. Based on an average daily trading volume, of 180,000 shares, the days-to-cover ratio is currently 5.4 days.

Several hedge funds have recently made changes to their positions in MSG. Hudock Capital Group LLC boosted its stake in shares of 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 during the period. Citizens Financial Group Inc RI purchased a new position in shares of Madison Square Garden in the third quarter valued at $26,000. Usca Ria LLC purchased a new position in shares of Madison Square Garden in the third quarter valued at $40,000. Advisory Services Network LLC boosted its stake in shares of Madison Square Garden by 850.0% in the second quarter. Advisory Services Network LLC now owns 171 shares of the company’s stock valued at $48,000 after purchasing an additional 153 shares during the period. Finally, AdvisorNet Financial Inc boosted its stake in shares of Madison Square Garden by 119.6% in the third quarter. AdvisorNet Financial Inc now owns 235 shares of the company’s stock valued at $62,000 after purchasing an additional 128 shares during the period. Institutional investors and hedge funds own 70.47% of the company’s stock.

Shares of MSG stock traded up $5.03 on Thursday, hitting $278.95. The stock had a trading volume of 145,659 shares, compared to its average volume of 187,928. The firm has a market capitalization of $6.51 billion, a price-to-earnings ratio of 581.15 and a beta of 0.56. The stock’s 50 day moving average is $274.74 and its 200-day moving average is $276.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.55 and a current ratio of 1.55. Madison Square Garden has a 52-week low of $240.33 and a 52-week high of $315.95.

Madison Square Garden (NYSE:MSG) last announced its earnings results on Friday, November 8th. The company reported ($3.36) earnings per share for the quarter, missing the consensus estimate of ($2.29) by ($1.07). The firm had revenue of $214.78 million during the quarter, compared to analysts’ expectations of $227.52 million. Madison Square Garden had a negative net margin of 2.23% and a negative return on equity of 1.38%. Madison Square Garden’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the company posted ($1.36) earnings per share. Equities analysts expect that Madison Square Garden will post -0.74 earnings per share for the current year.

MSG has been the subject of several research reports. Guggenheim set a $350.00 price objective on shares of Madison Square Garden and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Morgan Stanley decreased their price objective on shares of Madison Square Garden from $340.00 to $320.00 and set an “equal weight” rating for the company in a research note on Thursday, August 22nd. ValuEngine upgraded shares of Madison Square Garden from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Imperial Capital boosted their price objective on shares of Madison Square Garden from $357.00 to $360.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $343.75.

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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