Tabor Asset Management LP Sells 11,842 Shares of The Madison Square Garden Company $MSGS

Tabor Asset Management LP lessened its holdings in shares of The Madison Square Garden Company (NYSE:MSGS) by 53.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,263 shares of the company’s stock after selling 11,842 shares during the period. Madison Square Garden comprises approximately 1.5% of Tabor Asset Management LP’s holdings, making the stock its 26th largest holding. Tabor Asset Management LP’s holdings in Madison Square Garden were worth $2,144,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp raised its stake in Madison Square Garden by 59.5% in the second quarter. Fifth Third Bancorp now owns 185 shares of the company’s stock worth $39,000 after buying an additional 69 shares in the last quarter. Covestor Ltd raised its position in shares of Madison Square Garden by 35.5% in the 1st quarter. Covestor Ltd now owns 416 shares of the company’s stock worth $81,000 after acquiring an additional 109 shares in the last quarter. CWM LLC lifted its stake in shares of Madison Square Garden by 407.7% in the 2nd quarter. CWM LLC now owns 528 shares of the company’s stock valued at $110,000 after purchasing an additional 424 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Madison Square Garden during the second quarter valued at approximately $111,000. Finally, Westside Investment Management Inc. boosted its position in shares of Madison Square Garden by 9.0% during the second quarter. Westside Investment Management Inc. now owns 784 shares of the company’s stock valued at $164,000 after purchasing an additional 65 shares in the last quarter. Institutional investors own 68.94% of the company’s stock.

Analyst Ratings Changes

MSGS has been the subject of a number of research reports. Zacks Research upgraded Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Wolfe Research reaffirmed an “outperform” rating on shares of Madison Square Garden in a research report on Monday. Citigroup began coverage on shares of Madison Square Garden in a research note on Tuesday, September 9th. They issued a “buy” rating and a $285.00 price target for the company. Morgan Stanley boosted their price objective on shares of Madison Square Garden from $215.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 13th. Finally, BTIG Research assumed coverage on shares of Madison Square Garden in a report on Tuesday, October 7th. They issued a “neutral” rating on the stock. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $260.50.

Madison Square Garden Stock Performance

Shares of Madison Square Garden stock opened at $219.82 on Friday. The company has a 50-day simple moving average of $217.66 and a two-hundred day simple moving average of $204.53. The stock has a market capitalization of $5.28 billion, a PE ratio of -224.30 and a beta of 0.77. The Madison Square Garden Company has a 52-week low of $173.26 and a 52-week high of $237.99.

Madison Square Garden (NYSE:MSGS) last announced its quarterly earnings results on Friday, October 31st. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($1.04) by $0.67. Madison Square Garden had a negative net margin of 2.31% and a negative return on equity of 1.76%. The company had revenue of $39.45 million during the quarter, compared to the consensus estimate of $41.41 million. During the same quarter last year, the firm earned ($0.31) earnings per share. The firm’s quarterly revenue was down 26.0% compared to the same quarter last year. As a group, equities research analysts forecast that The Madison Square Garden Company will post 0.73 EPS for the current fiscal year.

Madison Square Garden Profile

Madison Square Garden Sports Corp. operates as a professional sports company in the United States. The company owns and operates a portfolio of assets that consists of the New York Knickerbockers of the National Basketball Association (NBA) and the New York Rangers of the National Hockey League. Its other professional franchises include development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.