Corient Private Wealth LLC Buys 2,561 Shares of The Madison Square Garden Company $MSGS

Corient Private Wealth LLC grew its stake in shares of The Madison Square Garden Company (NYSE:MSGS) by 255.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,565 shares of the company’s stock after acquiring an additional 2,561 shares during the quarter. Corient Private Wealth LLC’s holdings in Madison Square Garden were worth $922,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MSGS. JPMorgan Chase & Co. raised its stake in Madison Square Garden by 11.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 117,905 shares of the company’s stock valued at $26,764,000 after buying an additional 12,412 shares during the last quarter. Gabelli Funds LLC grew its holdings in shares of Madison Square Garden by 0.9% in the fourth quarter. Gabelli Funds LLC now owns 394,292 shares of the company’s stock worth $101,984,000 after acquiring an additional 3,607 shares during the period. M&T Bank Corp increased its position in Madison Square Garden by 1,394.6% during the fourth quarter. M&T Bank Corp now owns 16,396 shares of the company’s stock valued at $4,241,000 after acquiring an additional 15,299 shares during the last quarter. Assetmark Inc. increased its position in Madison Square Garden by 38.7% during the fourth quarter. Assetmark Inc. now owns 11,794 shares of the company’s stock valued at $3,051,000 after acquiring an additional 3,288 shares during the last quarter. Finally, TD Asset Management Inc purchased a new position in Madison Square Garden in the third quarter worth about $2,052,000. 68.94% of the stock is currently owned by institutional investors.

Madison Square Garden Stock Performance

MSGS opened at $395.98 on Friday. 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’s fifty day moving average is $363.38 and its 200 day moving average is $319.64. The stock has a market cap of $9.53 billion, a price-to-earnings ratio of -425.78 and a beta of 0.61.

Madison Square Garden (NYSE:MSGS) last issued its quarterly earnings results 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 business had revenue of $432.20 million during the quarter, compared to analyst estimates of $429.66 million. During the same period in the previous year, the firm earned ($0.59) EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts predict that The Madison Square Garden Company will post -0.5 earnings per share for the current year.

Analysts Set New Price Targets

MSGS has been the subject of a number of recent research reports. Susquehanna boosted their price target 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. Citigroup boosted their target price on shares of 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 reaffirmed a “hold (c-)” rating on shares of Madison Square Garden in a report on Wednesday, June 24th. Guggenheim lifted 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. Finally, Wall Street Zen lowered Madison Square Garden from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Three 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 currently has a consensus rating of “Hold” and an average price target 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.