Swiss National Bank Has $5.87 Million Stock Position in The Madison Square Garden Company $MSGS

Swiss National Bank cut its position in shares of The Madison Square Garden Company (NYSE:MSGS) by 1.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,133 shares of the company’s stock after selling 500 shares during the quarter. Swiss National Bank owned 0.13% of Madison Square Garden worth $5,867,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. LPL Financial LLC boosted its stake in shares of Madison Square Garden by 12.0% in the fourth quarter. LPL Financial LLC now owns 2,272 shares of the company’s stock valued at $513,000 after buying an additional 244 shares during the period. Envestnet Asset Management Inc. boosted its position in Madison Square Garden by 5.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 6,437 shares of the company’s stock valued at $1,453,000 after acquiring an additional 322 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Madison Square Garden during the 4th quarter worth about $4,425,000. Sterling Capital Management LLC lifted its position in Madison Square Garden by 54.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,051 shares of the company’s stock valued at $237,000 after acquiring an additional 372 shares in the last quarter. Finally, Barclays PLC lifted its position in Madison Square Garden by 7.8% in the 4th quarter. Barclays PLC now owns 15,813 shares of the company’s stock valued at $3,569,000 after acquiring an additional 1,145 shares in the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Morgan Stanley raised their price target on shares of Madison Square Garden from $215.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 13th. Susquehanna began coverage on shares of Madison Square Garden in a research report on Monday, April 28th. They issued a “positive” rating and a $254.00 target price on the stock. Guggenheim restated a “buy” rating and issued a $314.00 price objective on shares of Madison Square Garden in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Madison Square Garden from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Madison Square Garden presently has an average rating of “Moderate Buy” and a consensus target price of $253.60.

Madison Square Garden Stock Performance

Shares of NYSE:MSGS opened at $197.05 on Tuesday. The firm has a fifty day moving average price of $201.58 and a 200 day moving average price of $197.40. The Madison Square Garden Company has a fifty-two week low of $173.26 and a fifty-two week high of $237.99. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of -214.19 and a beta of 0.79.

Madison Square Garden (NYSE:MSGS) last issued its earnings results on Tuesday, August 12th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.35. Madison Square Garden had a negative net margin of 2.16% and a negative return on equity of 1.76%. The firm had revenue of $203.96 million during the quarter, compared to analyst estimates of $151.00 million. During the same quarter in the prior year, the business earned $1.06 earnings per share. Madison Square Garden’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, research analysts predict that The Madison Square Garden Company will post 0.73 earnings per share for the current year.

About Madison Square Garden

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.