Forward Management LLC Has $1.01 Million Position in Madison Square Garden Co (MSG)

Forward Management LLC decreased its position in shares of Madison Square Garden Co (NYSE:MSG) by 56.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,800 shares of the company’s stock after selling 6,300 shares during the period. Forward Management LLC’s holdings in Madison Square Garden were worth $1,012,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in shares of Madison Square Garden by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 751 shares of the company’s stock worth $148,000 after purchasing an additional 40 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Madison Square Garden by 5.6% in the 2nd quarter. Prudential Financial Inc. now owns 1,326 shares of the company’s stock worth $261,000 after purchasing an additional 70 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Madison Square Garden by 1.5% in the 2nd quarter. HighTower Advisors LLC now owns 6,544 shares of the company’s stock worth $1,290,000 after purchasing an additional 94 shares during the last quarter. Moors & Cabot Inc. increased its position in shares of Madison Square Garden by 3.1% in the 2nd quarter. Moors & Cabot Inc. now owns 3,817 shares of the company’s stock worth $760,000 after purchasing an additional 115 shares during the last quarter. Finally, EagleClaw Capital Managment LLC increased its position in shares of Madison Square Garden by 1.0% in the 2nd quarter. EagleClaw Capital Managment LLC now owns 13,060 shares of the company’s stock worth $2,581,000 after purchasing an additional 135 shares during the last quarter. 70.94% of the stock is owned by institutional investors.

Madison Square Garden Co (NYSE MSG) opened at $220.69 on Monday. Madison Square Garden Co has a fifty-two week low of $169.86 and a fifty-two week high of $231.44. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.92 and a current ratio of 1.92.

Madison Square Garden (NYSE:MSG) last posted its quarterly earnings results on Friday, February 2nd. The company reported $3.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $1.32. Madison Square Garden had a net margin of 5.21% and a negative return on equity of 1.02%. The business had revenue of $536.30 million during the quarter, compared to analyst estimates of $523.45 million. During the same period in the previous year, the business posted $2.39 EPS. The company’s quarterly revenue was up 20.5% on a year-over-year basis. equities research analysts expect that Madison Square Garden Co will post 0.58 EPS for the current fiscal year.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Madison Square Garden from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Loop Capital boosted their target price on shares of Madison Square Garden from $266.00 to $268.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Jefferies Group reissued a “hold” rating and issued a $200.00 target price on shares of Madison Square Garden in a research report on Tuesday, October 24th. Morgan Stanley downgraded shares of Madison Square Garden from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $218.50 to $245.00 in a research report on Tuesday, December 5th. Finally, ValuEngine downgraded shares of Madison Square Garden from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $219.00.

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Madison Square Garden Company Profile

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 operates in two segments, which include MSG Entertainment and MSG Sports. 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.

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Institutional Ownership by Quarter for Madison Square Garden (NYSE:MSG)

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