Assetmark Inc. Has $4.49 Million Stock Holdings in The Madison Square Garden Company $MSGS

Assetmark Inc. grew its holdings in The Madison Square Garden Company (NYSE:MSGS) by 18.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 13,960 shares of the company’s stock after purchasing an additional 2,166 shares during the quarter. Assetmark Inc.’s holdings in Madison Square Garden were worth $4,487,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in shares of 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 buying an additional 282,318 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of 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 acquiring an additional 49,412 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in shares of 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 valued at $158,654,000 after acquiring an additional 6,873 shares in the last quarter. State Street Corp lifted 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 during the last quarter. Finally, Gabelli Funds LLC lifted its holdings in 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 last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MSGS shares. Wall Street Zen raised Madison Square Garden from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Seaport Research Partners boosted their price objective on shares of Madison Square Garden from $430.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Morgan Stanley raised shares of Madison Square Garden from an “equal weight” rating to an “overweight” rating and set a $450.00 price objective for the company in a report on Wednesday, July 15th. Zacks Research lowered shares of Madison Square Garden from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 16th. Finally, Susquehanna raised their target price on shares of Madison Square Garden from $429.00 to $430.00 and gave the company a “positive” rating in a research note on Tuesday, June 23rd. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $432.00.

Madison Square Garden Trading Up 0.4%

Shares of NYSE:MSGS opened at $397.38 on Thursday. The firm has a market capitalization of $9.57 billion, a PE ratio of -427.29 and a beta of 0.61. The Madison Square Garden Company has a 1-year low of $188.60 and a 1-year high of $411.73. The business’s 50 day moving average is $378.71 and its 200-day moving average is $333.35.

Madison Square Garden (NYSE:MSGS) last issued 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 analyst estimates of $429.66 million. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.59) EPS. On average, sell-side analysts predict that The Madison Square Garden Company will post -0.18 EPS for the current year.

Madison Square Garden Company 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.