Janney Montgomery Scott LLC Grows Stake in The Madison Square Garden Company $MSGS

Janney Montgomery Scott LLC raised its holdings in The Madison Square Garden Company (NYSE:MSGS) by 53.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,588 shares of the company’s stock after buying an additional 4,708 shares during the quarter. Janney Montgomery Scott LLC owned about 0.06% of Madison Square Garden worth $4,367,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in Madison Square Garden by 67.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 699,378 shares of the company’s stock worth $180,895,000 after acquiring an additional 282,318 shares during the period. T. Rowe Price Investment Management Inc. increased its position in Madison Square Garden by 8.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 648,515 shares of the company’s stock valued at $167,739,000 after purchasing an additional 49,412 shares during the period. Gamco Investors INC. ET AL raised its holdings in Madison Square Garden by 1.1% in the 4th quarter. Gamco Investors INC. ET AL now owns 613,391 shares of the company’s stock worth $158,654,000 after purchasing an additional 6,873 shares in the last quarter. State Street Corp raised its holdings in Madison Square Garden by 3.0% in the 4th quarter. State Street Corp now owns 538,404 shares of the company’s stock worth $139,258,000 after purchasing an additional 15,656 shares in the last quarter. Finally, Gabelli Funds LLC lifted its position in shares of Madison Square Garden by 0.9% in the 4th quarter. Gabelli Funds LLC now owns 394,292 shares of the company’s stock worth $101,984,000 after purchasing an additional 3,607 shares during the period. 68.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MSGS shares. 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. Guggenheim raised their price objective on shares of Madison Square Garden from $422.00 to $470.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Citigroup lifted their price objective on Madison Square Garden from $355.00 to $360.00 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Madison Square Garden in a report on Wednesday, June 24th. Finally, Susquehanna raised their target price on Madison Square Garden from $429.00 to $430.00 and gave the company a “positive” rating in a research note on Tuesday, June 23rd. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $357.00.

Madison Square Garden Price Performance

Shares of Madison Square Garden stock opened at $395.98 on Monday. The Madison Square Garden Company has a 1 year low of $188.60 and a 1 year high of $411.73. The firm has a market cap of $9.54 billion, a price-to-earnings ratio of -425.78 and a beta of 0.61. The company has a 50-day moving average of $364.60 and a 200 day moving average of $320.76.

Madison Square Garden (NYSE:MSGS) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of $0.56 by ($1.39). The company had revenue of $432.20 million for the quarter, compared to analyst estimates of $429.66 million. During the same quarter in the prior year, the firm earned ($0.59) earnings per share. Madison Square Garden’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts anticipate that The Madison Square Garden Company will post -0.5 EPS for the current year.

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.