PNC Financial Services Group Inc. Purchases 313 Shares of The Madison Square Garden Company (NYSE:MSGS)

PNC Financial Services Group Inc. raised its holdings in shares of The Madison Square Garden Company (NYSE:MSGS) by 14.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,483 shares of the company’s stock after purchasing an additional 313 shares during the period. PNC Financial Services Group Inc.’s holdings in Madison Square Garden were worth $483,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Treasurer of the State of North Carolina lifted its holdings in Madison Square Garden by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 8,172 shares of the company’s stock valued at $1,844,000 after buying an additional 50 shares during the period. NewEdge Advisors LLC raised its position in shares of Madison Square Garden by 2.2% during the 4th quarter. NewEdge Advisors LLC now owns 2,914 shares of the company’s stock valued at $658,000 after acquiring an additional 62 shares during the last quarter. Marest Capital LLC lifted its stake in shares of Madison Square Garden by 4.1% in the 1st quarter. Marest Capital LLC now owns 1,751 shares of the company’s stock valued at $341,000 after purchasing an additional 69 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of Madison Square Garden by 0.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 10,528 shares of the company’s stock worth $2,376,000 after purchasing an additional 76 shares during the last quarter. Finally, Putney Financial Group LLC acquired a new stake in shares of Madison Square Garden during the fourth quarter worth $28,000. Institutional investors and hedge funds own 68.94% of the company’s stock.

Madison Square Garden Trading Down 0.3%

MSGS stock opened at $194.77 on Thursday. The Madison Square Garden Company has a 1-year low of $173.26 and a 1-year high of $237.99. The firm has a market cap of $4.68 billion, a PE ratio of -211.71 and a beta of 0.79. The business’s 50-day moving average price is $201.22 and its two-hundred day moving average price is $198.22.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.35. Madison Square Garden had a negative return on equity of 1.76% and a negative net margin of 2.16%. The company had revenue of $203.96 million for the quarter, compared to analyst estimates of $151.00 million. During the same quarter last year, the firm posted $1.06 earnings per share. Madison Square Garden’s revenue was down 10.3% compared to the same quarter last year. On average, analysts forecast that The Madison Square Garden Company will post 0.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Guggenheim reiterated a “buy” rating and issued a $314.00 price objective on shares of Madison Square Garden in a report on Tuesday, May 6th. Susquehanna began coverage on Madison Square Garden in a research report on Monday, April 28th. They set a “positive” rating and a $254.00 target price for the company. Morgan Stanley increased their price target on shares of Madison Square Garden from $215.00 to $220.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Madison Square Garden from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Monday, May 5th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Madison Square Garden currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.60.

Madison Square Garden Company 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.