Bank of Montreal Can Acquires 2,420 Shares of The Madison Square Garden Company $MSGS

Bank of Montreal Can lifted its holdings in The Madison Square Garden Company (NYSE:MSGS) by 4.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,599 shares of the company’s stock after acquiring an additional 2,420 shares during the period. Bank of Montreal Can owned 0.22% of Madison Square Garden worth $11,200,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MSGS. Fifth Third Bancorp lifted its holdings in Madison Square Garden by 59.5% in the 2nd quarter. Fifth Third Bancorp now owns 185 shares of the company’s stock worth $39,000 after purchasing an additional 69 shares in the last quarter. Covestor Ltd grew its holdings in Madison Square Garden by 35.5% during the 1st quarter. Covestor Ltd now owns 416 shares of the company’s stock valued at $81,000 after buying an additional 109 shares in the last quarter. CWM LLC raised its position in shares of Madison Square Garden by 407.7% during the second quarter. CWM LLC now owns 528 shares of the company’s stock valued at $110,000 after buying an additional 424 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Madison Square Garden in the second quarter worth $111,000. Finally, GAMMA Investing LLC boosted its position in shares of Madison Square Garden by 24.8% during the second quarter. GAMMA Investing LLC now owns 880 shares of the company’s stock worth $184,000 after acquiring an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. 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 on the stock. Zacks Research raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Wolfe Research reissued an “outperform” rating on shares of Madison Square Garden in a research note on Monday, November 3rd. BTIG Research started coverage on Madison Square Garden in a report on Tuesday, October 7th. They set a “neutral” rating for the company. Finally, Morgan Stanley upped their price objective on Madison Square Garden from $215.00 to $220.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 13th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $260.50.

Madison Square Garden Price Performance

Shares of MSGS stock opened at $219.82 on Friday. The company has a market cap of $5.28 billion, a PE ratio of -224.30 and a beta of 0.77. The Madison Square Garden Company has a 1 year low of $173.26 and a 1 year high of $237.99. The stock’s 50 day simple moving average is $217.66 and its two-hundred day simple moving average is $204.64.

Madison Square Garden (NYSE:MSGS) last released its 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. The firm had revenue of $39.45 million for the quarter, compared to the consensus estimate of $41.41 million. Madison Square Garden had a negative return on equity of 1.76% and a negative net margin of 2.31%.The company’s revenue for the quarter was down 26.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.31) EPS. Equities research analysts expect that The Madison Square Garden Company will post 0.73 EPS for the current 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.