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Madison Square Garden to Sell Its WNBA Franchise

14 Novembre 2017

Madison Square Garden's owner finally responded Monday to a libel and slander suit brought in September by former New York Knicks basketball player Charles Oakley, telling a New York federal judge in a letter that Oakley has a history of violent behavior and his ouster from MSG after a fight was justified. The company reported ($0.47) EPS for the quarter, beating the Thomson Reuters' consensus estimate of ($0.65) by $0.18, Briefing.com reports. The company had revenue of $157.46 million for the quarter, compared to analyst estimates of $157.21 million. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.04. Institutional investors and hedge funds own 77.49% of the company's stock.

An institutional investor recently raised its position in The Madison Square Garden stock. The firm owned 751 shares of the company's stock after acquiring an additional 40 shares during the period.

Madison Square Garden Co (NYSE:MSG) traded up 0.078% on Wednesday, hitting $172.955. Point72 Asia Hong Kong Ltd purchased a new position in Madison Square Garden during the second quarter worth approximately $104,000. Madison Square Garden Co has a 12 month low of $139.10 and a 12 month high of $188.80.

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MSG has been the topic of a number of research analyst reports. The firm's quarterly revenue was up 2.5% compared to the same quarter a year ago. Loop Capital downgraded shares of Madison Square Garden from a "hold" rating to a "sell" rating in a research note on Friday, December 16th. If you are accessing this piece on another site, it was illegally stolen and republished in violation of United States and global trademark and copyright laws.

Shares of The Madison Square Garden (MSG) opened at $225.00 on Tuesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company's stock. Madison Square Garden presently has a consensus rating of "Hold" and an average target price of $197.96. If you are viewing this story on another publication, it was copied illegally and republished in violation of USA & worldwide trademark and copyright legislation.

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 owns and operates two regional sports and entertainment networks, MSG Network (MSGN) and MSG+, collectively MSG Networks. 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.

Madison Square Garden to Sell Its WNBA Franchise