Revenue Update on Madison Square Garden Co(NYSE:MSG)

Madison Square Garden Co(NYSE:MSG) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-market on Aug 19, 2016. Company reported revenue of $217.76M. Analysts estimated a revenue of $218.81M. Earnings per share were $-2.10. Analysts had estimated an EPS of $-1.02.

In a different note, Loop Capital said it Initiates Coverage on Madison Square Garden Co, according to a research note issued on Aug 9, 2016. The shares have been rated ‘Buy’ by the firm.

Madison Square Garden Co (MSG) made into the market gainers list on Mondays trading session with the shares advancing 0.47% or 0.85 points. Due to strong positive momentum, the stock ended at $180.53, which is also near the day’s high of $180.84. The stock began the session at $179.33 and the volume stood at 60,584 shares. The 52-week high of the shares is $188.8 and the 52 week low is $139.1001. The company has a current market capitalization of $4,345 M and it has 2,40,69,010 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Nov 13, 2015, Vincent Tese (director) sold 2,500 shares at $174.22 per share price.Also, 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.

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