Gabelli Funds LLC cut its position in shares of The Madison Square Garden Company (NYSE:MSGS – Free Report) by 0.9% during the first quarter, HoldingsChannel.com reports. The firm owned 390,862 shares of the company’s stock after selling 3,430 shares during the period. Madison Square Garden accounts for about 0.8% of Gabelli Funds LLC’s investment portfolio, making the stock its 14th largest holding. Gabelli Funds LLC’s holdings in Madison Square Garden were worth $125,623,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new position in Madison Square Garden in the fourth quarter worth $26,000. Caitong International Asset Management Co. Ltd increased its holdings in Madison Square Garden by 67.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 122 shares of the company’s stock valued at $32,000 after buying an additional 49 shares during the period. SJS Investment Consulting Inc. increased its holdings in Madison Square Garden by 488.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 100 shares of the company’s stock valued at $32,000 after buying an additional 83 shares during the period. Global Retirement Partners LLC raised its stake in shares of Madison Square Garden by 1,150.0% in the 4th quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock valued at $32,000 after buying an additional 115 shares in the last quarter. Finally, Salomon & Ludwin LLC raised its stake in shares of Madison Square Garden by 33.1% in the 4th quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock valued at $40,000 after buying an additional 39 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
MSGS has been the topic of several recent research reports. Zacks Research lowered shares of Madison Square Garden from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 16th. Guggenheim increased their price target on shares of Madison Square Garden from $470.00 to $522.00 and gave the stock a “buy” rating in a research report on Thursday. Susquehanna raised their price target on shares of Madison Square Garden from $429.00 to $430.00 and gave the stock a “positive” rating in a research note on Tuesday, June 23rd. Wall Street Zen raised Madison Square Garden from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Seaport Research Partners upped their price objective on Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Madison Square Garden presently has a consensus rating of “Hold” and an average price target of $442.40.
Madison Square Garden Price Performance
NYSE MSGS opened at $396.01 on Friday. The stock’s 50 day simple moving average is $380.53 and its 200 day simple moving average is $334.74. The Madison Square Garden Company has a one year low of $188.60 and a one year high of $411.73. The firm has a market cap of $9.54 billion, a PE ratio of -425.81 and a beta of 0.61.
Madison Square Garden (NYSE:MSGS – Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($1.39). The business had revenue of $432.20 million during the quarter, compared to the consensus estimate of $429.66 million. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.59) earnings per share. As a group, equities analysts expect that The Madison Square Garden Company will post -0.06 earnings per share for the current year.
Madison Square Garden Profile
Madison Square Garden Sports Corp (NYSE: MSGS) is a leading sports and entertainment holding company focused on professional sports franchises and related media assets. The company owns and operates teams such as the NBA’s New York Knicks, the NHL’s New York Rangers and the WNBA’s New York Liberty. Through these flagship franchises, MSG Sports offers a range of products and services including ticketing, premium seating and sponsorship opportunities, targeting fans in the New York metropolitan area and beyond.
In addition to team operations, Madison Square Garden Sports Corp holds a majority stake in MSG Networks, a regional cable network that broadcasts live sporting events, news and original programming.
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