Clearbridge Investments LLC Has $117.32 Million Holdings in The Madison Square Garden Company $MSGS

Clearbridge Investments LLC cut its holdings in The Madison Square Garden Company (NYSE:MSGS) by 11.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 453,585 shares of the company’s stock after selling 59,235 shares during the period. Clearbridge Investments LLC owned about 1.89% of Madison Square Garden worth $117,320,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Retirement Partners LLC raised its holdings in shares of Madison Square Garden by 1,150.0% in the fourth quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares during the last quarter. Accredited Wealth Management LLC raised its holdings in shares of Madison Square Garden by 524.0% in the third quarter. Accredited Wealth Management LLC now owns 156 shares of the company’s stock valued at $35,000 after purchasing an additional 131 shares during the last quarter. Salomon & Ludwin LLC raised its holdings in shares of Madison Square Garden by 33.1% in the fourth quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock valued at $40,000 after purchasing an additional 39 shares during the last quarter. Sound Income Strategies LLC acquired a new stake in shares of Madison Square Garden in the fourth quarter valued at approximately $45,000. Finally, Allworth Financial LP raised its holdings in shares of Madison Square Garden by 26.5% in the fourth quarter. Allworth Financial LP now owns 196 shares of the company’s stock valued at $51,000 after purchasing an additional 41 shares during the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Trading Up 0.1%

Shares of MSGS opened at $386.54 on Monday. The company has a market cap of $9.31 billion, a price-to-earnings ratio of -415.63 and a beta of 0.61. The Madison Square Garden Company has a 1-year low of $186.00 and a 1-year high of $390.12. The company’s fifty day simple moving average is $342.10 and its 200 day simple moving average is $298.48.

Madison Square Garden (NYSE:MSGS) last issued its earnings results on Friday, May 8th. The company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates 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. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.59) EPS. As a group, 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

A number of analysts have recently issued reports on the stock. Guggenheim lifted their price objective on shares of Madison Square Garden from $422.00 to $470.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Seaport Research Partners boosted their target price on shares of Madison Square Garden from $430.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Susquehanna boosted their target price on shares of Madison Square Garden from $404.00 to $429.00 and gave the stock a “positive” rating in a report on Thursday, May 28th. Citigroup boosted their target price 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, Weiss Ratings upgraded shares of Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $356.80.

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.