21,421 Shares in The Madison Square Garden Company $MSGS Bought by Hsbc Holdings PLC

Hsbc Holdings PLC purchased a new position in The Madison Square Garden Company (NYSE:MSGS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 21,421 shares of the company’s stock, valued at approximately $5,596,000. Hsbc Holdings PLC owned about 0.09% of Madison Square Garden as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Amundi lifted its stake in shares of Madison Square Garden by 4.7% in the 1st quarter. Amundi now owns 5,643 shares of the company’s stock valued at $1,091,000 after acquiring an additional 252 shares during the last quarter. Millennium Management LLC grew its position in Madison Square Garden by 8.0% during the 1st quarter. Millennium Management LLC now owns 27,147 shares of the company’s stock worth $5,286,000 after acquiring an additional 2,006 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Madison Square Garden by 28.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 24,807 shares of the company’s stock worth $4,830,000 after acquiring an additional 5,452 shares during the last quarter. United Services Automobile Association purchased a new position in Madison Square Garden in the 1st quarter worth approximately $210,000. Finally, Empowered Funds LLC increased its stake in Madison Square Garden by 10.8% in the 1st quarter. Empowered Funds LLC now owns 2,055 shares of the company’s stock worth $400,000 after purchasing an additional 200 shares during the period. 68.94% of the stock is owned by institutional investors.

Madison Square Garden Stock Performance

MSGS opened at $392.73 on Friday. The Madison Square Garden Company has a 52-week low of $188.60 and a 52-week high of $397.00. The stock has a market capitalization of $9.46 billion, a PE ratio of -422.28 and a beta of 0.61. The stock’s 50 day moving average price is $358.13 and its 200-day moving average price is $314.27.

Madison Square Garden (NYSE:MSGS) last announced its earnings results on Friday, May 8th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($1.39). The company had revenue of $432.20 million during the quarter, compared to the consensus estimate of $429.66 million. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.59) EPS. Research analysts forecast that The Madison Square Garden Company will post -0.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on MSGS shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Madison Square Garden in a research note on Wednesday. Guggenheim lifted their target price on shares of Madison Square Garden from $422.00 to $470.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Susquehanna upped their price target on shares of Madison Square Garden from $429.00 to $430.00 and gave the company a “positive” rating in a report on Tuesday, June 23rd. Citigroup raised their price target on shares of Madison Square Garden from $355.00 to $360.00 and gave the stock a “neutral” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen cut shares of Madison Square Garden from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $357.00.

About Madison Square Garden

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.