The Madison Square Garden Company (NYSE:MSGS) Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC decreased its position in shares of The Madison Square Garden Company (NYSE:MSGS) by 23.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 705 shares of the company’s stock after selling 211 shares during the period. GAMMA Investing LLC’s holdings in Madison Square Garden were worth $137,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Park Avenue Securities LLC increased its position in Madison Square Garden by 20.5% during the 1st quarter. Park Avenue Securities LLC now owns 5,135 shares of the company’s stock worth $1,000,000 after purchasing an additional 872 shares during the period. Versant Capital Management Inc grew its holdings in shares of Madison Square Garden by 485.9% in the 1st quarter. Versant Capital Management Inc now owns 1,371 shares of the company’s stock worth $267,000 after acquiring an additional 1,137 shares during the period. Central Pacific Bank Trust Division grew its holdings in shares of Madison Square Garden by 29.4% in the 1st quarter. Central Pacific Bank Trust Division now owns 6,600 shares of the company’s stock worth $1,285,000 after acquiring an additional 1,500 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of Madison Square Garden in the 4th quarter worth approximately $43,000. Finally, Pullen Investment Management LLC grew its holdings in shares of Madison Square Garden by 46.2% in the 4th quarter. Pullen Investment Management LLC now owns 7,431 shares of the company’s stock worth $1,677,000 after acquiring an additional 2,347 shares during the period. Institutional investors and hedge funds own 68.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MSGS shares. Susquehanna started coverage on Madison Square Garden in a report on Monday, April 28th. They issued a “positive” rating and a $254.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on Madison Square Garden from $240.00 to $230.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Guggenheim restated a “buy” rating and issued a $314.00 price target on shares of Madison Square Garden in a report on Tuesday, May 6th. Finally, Morgan Stanley lowered their target price on Madison Square Garden from $235.00 to $215.00 and set an “equal weight” rating on the stock in a report on Monday, May 5th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $252.60.

Madison Square Garden Trading Down 0.1%

Shares of MSGS opened at $207.90 on Friday. The firm has a market capitalization of $4.99 billion, a P/E ratio of 990.05 and a beta of 0.79. The stock’s fifty day simple moving average is $194.98 and its 200 day simple moving average is $201.21. The Madison Square Garden Company has a twelve month low of $173.26 and a twelve month high of $237.99.

Madison Square Garden (NYSE:MSGS) last issued its earnings results on Friday, May 2nd. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of $1.48 by ($2.07). Madison Square Garden had a negative return on equity of 1.76% and a net margin of 0.45%. The firm had revenue of $424.20 million during the quarter, compared to analysts’ expectations of $436.84 million. During the same period last year, the business posted $1.57 earnings per share. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. Sell-side analysts predict that The Madison Square Garden Company will post 0.73 earnings per share for the current year.

Madison Square Garden Profile

Madison Square Garden Sports Corp. operates as a professional sports company in the United States. The company owns and operates a portfolio of assets that consists of the New York Knickerbockers of the National Basketball Association (NBA) and the New York Rangers of the National Hockey League. Its other professional franchises include development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.