BlackRock Inc. Grows Position in Madison Square Garden Co (MSG)

BlackRock Inc. lifted its position in Madison Square Garden Co (NYSE:MSG) by 9.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 925,368 shares of the company’s stock after acquiring an additional 81,296 shares during the period. BlackRock Inc. owned 3.91% of Madison Square Garden worth $247,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MSG. Athena Capital Advisors LLC acquired a new position in shares of Madison Square Garden in the 4th quarter valued at $135,000. Oppenheimer & Co. Inc. acquired a new position in shares of Madison Square Garden in the 4th quarter valued at $226,000. CAPROCK Group Inc. acquired a new position in shares of Madison Square Garden in the 4th quarter valued at $276,000. AMP Capital Investors Ltd acquired a new position in shares of Madison Square Garden in the 3rd quarter valued at $311,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Madison Square Garden by 9.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,246 shares of the company’s stock valued at $334,000 after acquiring an additional 106 shares during the period. 76.65% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:MSG opened at $297.30 on Friday. Madison Square Garden Co has a one year low of $236.78 and a one year high of $330.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm has a market capitalization of $7.06 billion, a price-to-earnings ratio of 50.05 and a beta of 0.54.

Madison Square Garden (NYSE:MSG) last posted its quarterly earnings results on Friday, February 1st. The company reported $3.42 EPS for the quarter, beating the consensus estimate of $2.09 by $1.33. Madison Square Garden had a net margin of 0.77% and a return on equity of 0.48%. The company had revenue of $632.20 million for the quarter, compared to analyst estimates of $589.52 million. During the same period in the prior year, the company earned $7.96 earnings per share. The firm’s revenue was up 17.9% on a year-over-year basis. Sell-side analysts anticipate that Madison Square Garden Co will post 0.47 earnings per share for the current year.

Several equities analysts recently issued reports on the company. Imperial Capital upped their target price on Madison Square Garden from $372.00 to $383.00 and gave the company an “outperform” rating in a research report on Thursday, February 14th. Zacks Investment Research downgraded Madison Square Garden from a “buy” rating to a “hold” rating in a research report on Friday. TheStreet raised shares of Madison Square Garden from a “c” rating to a “b-” rating in a report on Thursday, February 14th. Finally, Morgan Stanley lowered their price target on shares of Madison Square Garden from $320.00 to $310.00 and set an “equal weight” rating on the stock in a report on Friday, November 30th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Madison Square Garden currently has an average rating of “Buy” and a consensus price target of $341.50.

COPYRIGHT VIOLATION WARNING: “BlackRock Inc. Grows Position in Madison Square Garden Co (MSG)” was reported by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another site, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this story can be read at https://www.americanbankingnews.com/2019/03/17/blackrock-inc-grows-position-in-madison-square-garden-co-msg.html.

Madison Square Garden Company Profile

The Madison Square Garden Company, together with its subsidiaries, engages in live sports and entertainment businesses in the United States. The company operates in two segments, MSG Sports and MSG Entertainment. The MSG Sports segment owns and operates professional sports franchises; and promotes, produces, and/or presents an array of other live sporting events, including professional boxing, college basketball, college hockey, professional bull riding, mixed martial arts, esports, tennis, and college wrestling.

See Also: Channel Trading

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

Receive News & Ratings for Madison Square Garden Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Madison Square Garden and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply