The Madison Square Garden Company $MSGS Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its holdings in The Madison Square Garden Company (NYSE:MSGS) by 84.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,065 shares of the company’s stock after selling 5,593 shares during the period. SG Americas Securities LLC’s holdings in Madison Square Garden were worth $342,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Pullen Investment Management LLC increased its holdings in Madison Square Garden by 1.2% in the 1st quarter. Pullen Investment Management LLC now owns 12,830 shares of the company’s stock worth $4,124,000 after acquiring an additional 149 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of Madison Square Garden during the 4th quarter worth about $5,596,000. Rockefeller Capital Management L.P. lifted its stake in Madison Square Garden by 0.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 41,206 shares of the company’s stock valued at $10,658,000 after buying an additional 212 shares in the last quarter. Corient Private Wealth LLC increased its stake in Madison Square Garden by 255.1% during the 4th quarter. Corient Private Wealth LLC now owns 3,565 shares of the company’s stock worth $922,000 after buying an additional 2,561 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Madison Square Garden by 67.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 122 shares of the company’s stock valued at $32,000 after acquiring an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Madison Square Garden Stock Performance

Madison Square Garden stock opened at $387.01 on Friday. The company has a market capitalization of $9.32 billion, a PE ratio of -416.13 and a beta of 0.61. The Madison Square Garden Company has a fifty-two week low of $188.60 and a fifty-two week high of $411.73. The firm has a 50 day moving average price of $369.04 and a 200 day moving average price of $324.94.

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

Wall Street Analyst Weigh In

Several research firms recently commented on MSGS. Seaport Research Partners increased their price objective on Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Guggenheim raised their price target 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. Wall Street Zen cut shares of Madison Square Garden from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Madison Square Garden in a research note on Wednesday, June 24th. Finally, Susquehanna upped their price target on Madison Square Garden from $429.00 to $430.00 and gave the company a “positive” rating in a research report on Tuesday, June 23rd. Three research 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 stock currently has an average rating of “Hold” and an average target price 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.