Fox Run Management L.L.C. Invests $810,000 in The Madison Square Garden Company $MSGS

Fox Run Management L.L.C. bought a new position in shares of The Madison Square Garden Company (NYSE:MSGS) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,133 shares of the company’s stock, valued at approximately $810,000.

Several other hedge funds also recently made changes to their positions in the business. Gamco Investors INC. ET AL increased its holdings in shares of Madison Square Garden by 1.1% during the fourth 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 during the period. Victory Capital Management Inc. increased its holdings in shares of Madison Square Garden by 0.4% during the third quarter. Victory Capital Management Inc. now owns 455,042 shares of the company’s stock worth $103,295,000 after purchasing an additional 1,688 shares during the period. Gabelli Funds LLC increased its holdings in shares of Madison Square Garden by 0.9% during the fourth 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. Geode Capital Management LLC increased its holdings in shares of Madison Square Garden by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 291,057 shares of the company’s stock worth $75,301,000 after purchasing an additional 3,705 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Madison Square Garden by 9.5% during the second quarter. The Manufacturers Life Insurance Company now owns 234,657 shares of the company’s stock worth $49,032,000 after purchasing an additional 20,277 shares during the period. 68.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on MSGS shares. Seaport Research Partners raised 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 lifted their price objective on shares of Madison Square Garden from $404.00 to $429.00 and gave the company a “positive” rating in a research note on Thursday, May 28th. Weiss Ratings raised shares of Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, March 27th. 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. Finally, Citigroup lifted their price objective on shares of Madison Square Garden from $355.00 to $360.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Madison Square Garden has a consensus rating of “Hold” and an average price target of $356.80.

Madison Square Garden Price Performance

Shares of NYSE:MSGS opened at $385.69 on Thursday. The company’s 50 day simple moving average is $346.40 and its 200 day simple moving average is $302.06. The stock has a market capitalization of $9.29 billion, a price-to-earnings ratio of -414.71 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 $392.56.

Madison Square Garden (NYSE:MSGS) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.83) earnings per share (EPS) 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. Madison Square Garden’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.59) earnings per share. As a group, analysts anticipate that The Madison Square Garden Company will post -0.5 EPS for the current fiscal 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.