Gamco Investors INC. ET AL lessened its stake in shares of The Madison Square Garden Company (NYSE:MSGS – Free Report) by 4.2% during the first quarter, Holdings Channel reports. The fund owned 587,652 shares of the company’s stock after selling 25,739 shares during the quarter. Madison Square Garden comprises 1.9% of Gamco Investors INC. ET AL’s investment portfolio, making the stock its largest position. Gamco Investors INC. ET AL’s holdings in Madison Square Garden were worth $188,871,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in MSGS. Sei Investments Co. raised its position in shares of Madison Square Garden by 36.9% during the first quarter. Sei Investments Co. now owns 8,718 shares of the company’s stock worth $2,802,000 after purchasing an additional 2,352 shares during the period. First Trust Advisors LP lifted its position in shares of Madison Square Garden by 24.2% during the first quarter. First Trust Advisors LP now owns 16,254 shares of the company’s stock valued at $5,224,000 after purchasing an additional 3,171 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Madison Square Garden by 2.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,490 shares of the company’s stock worth $800,000 after buying an additional 56 shares in the last quarter. KBC Group NV lifted its holdings in Madison Square Garden by 5,609.4% during the first quarter. KBC Group NV now owns 30,488 shares of the company’s stock worth $9,799,000 after acquiring an additional 29,954 shares during the period. Finally, Swiss National Bank raised its stake in shares of Madison Square Garden by 0.7% during the 1st quarter. Swiss National Bank now owns 30,933 shares of the company’s stock worth $9,942,000 after purchasing an additional 200 shares during the period. Institutional investors own 68.94% of the company’s stock.
Madison Square Garden Stock Up 0.4%
Shares of MSGS opened at $396.01 on Friday. The Madison Square Garden Company has a twelve month low of $188.60 and a twelve month high of $411.73. The stock has a market cap of $9.53 billion, a PE ratio of -425.81 and a beta of 0.61. The business’s 50-day moving average price is $380.53 and its 200-day moving average price is $334.74.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on MSGS shares. Susquehanna lifted their price target on shares of Madison Square Garden from $429.00 to $430.00 and gave the stock a “positive” rating in a report on Tuesday, June 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Madison Square Garden in a report on Wednesday, June 24th. Guggenheim lifted their price objective on shares of Madison Square Garden from $470.00 to $522.00 and gave the company a “buy” rating in a research note on Thursday. Wall Street Zen raised shares of Madison Square Garden from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Morgan Stanley upgraded Madison Square Garden from an “equal weight” rating to an “overweight” rating and set a $450.00 target price on the stock in a research report on Wednesday, July 15th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Madison Square Garden has an average rating of “Hold” and an average price target of $442.40.
View Our Latest Research Report on MSGS
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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