CenterBook Partners LP Makes New $636,000 Investment in The Madison Square Garden Company $MSGS

CenterBook Partners LP acquired a new stake in shares of The Madison Square Garden Company (NYSE:MSGS) during the third quarter, Holdings Channel.com reports. The fund acquired 2,802 shares of the company’s stock, valued at approximately $636,000.

Several other institutional investors and hedge funds have also made changes to their positions in MSGS. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Madison Square Garden in the second quarter worth approximately $288,000. Y Intercept Hong Kong Ltd raised its stake in shares of Madison Square Garden by 775.0% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 16,888 shares of the company’s stock worth $3,529,000 after buying an additional 14,958 shares in the last quarter. Advisors Capital Management LLC lifted its holdings in shares of Madison Square Garden by 12.2% in the second quarter. Advisors Capital Management LLC now owns 11,861 shares of the company’s stock valued at $2,478,000 after buying an additional 1,291 shares during the period. Vise Technologies Inc. bought a new position in Madison Square Garden during the second quarter valued at about $437,000. Finally, Envestnet Asset Management Inc. grew its holdings in Madison Square Garden by 24.7% during the second quarter. Envestnet Asset Management Inc. now owns 12,076 shares of the company’s stock worth $2,523,000 after acquiring an additional 2,389 shares during the period. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

Madison Square Garden Stock Performance

Madison Square Garden stock opened at $325.32 on Friday. The Madison Square Garden Company has a 52 week low of $173.26 and a 52 week high of $345.46. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of -471.48 and a beta of 0.61. The company has a 50 day moving average price of $274.83 and a 200 day moving average price of $235.99.

Madison Square Garden (NYSE:MSGS) last released its earnings results on Thursday, February 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). The firm had revenue of $403.42 million during the quarter, compared to the consensus estimate of $394.58 million. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. Equities analysts forecast that The Madison Square Garden Company will post 0.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Madison Square Garden in a report on Monday, December 29th. Wall Street Zen raised shares of Madison Square Garden from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 14th. Wolfe Research cut shares of Madison Square Garden from an “outperform” rating to a “hold” rating in a report on Monday, December 15th. Guggenheim reaffirmed a “buy” rating on shares of Madison Square Garden in a report on Thursday, February 5th. Finally, Citigroup raised their price objective on Madison Square Garden from $290.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Five research 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. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $280.00.

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.