The Madison Square Garden Company $MSGS Stock Holdings Reduced by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its position in The Madison Square Garden Company (NYSE:MSGS) by 2.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,183 shares of the company’s stock after selling 3,347 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.47% of Madison Square Garden worth $21,844,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MSGS. T. Rowe Price Investment Management Inc. grew its stake in Madison Square Garden by 1,854.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 498,607 shares of the company’s stock valued at $112,526,000 after purchasing an additional 473,090 shares in the last quarter. Victory Capital Management Inc. grew its stake in Madison Square Garden by 523.2% in the first quarter. Victory Capital Management Inc. now owns 347,800 shares of the company’s stock valued at $67,724,000 after purchasing an additional 291,989 shares in the last quarter. GAMMA Investing LLC grew its stake in Madison Square Garden by 14,886.7% in the first quarter. GAMMA Investing LLC now owns 137,278 shares of the company’s stock valued at $26,731,000 after purchasing an additional 136,362 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in Madison Square Garden by 89.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 127,556 shares of the company’s stock valued at $28,787,000 after purchasing an additional 60,112 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Madison Square Garden by 377.1% in the fourth quarter. First Trust Advisors LP now owns 57,879 shares of the company’s stock valued at $13,062,000 after purchasing an additional 45,748 shares in the last quarter. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on MSGS shares. Susquehanna started coverage on Madison Square Garden in a research note on Monday, April 28th. They issued a “positive” rating and a $254.00 target price on the stock. Guggenheim reiterated a “buy” rating and set a $314.00 price target on shares of Madison Square Garden in a research note on Tuesday, May 6th. Morgan Stanley upped their price target on 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. Finally, JPMorgan Chase & Co. decreased their price target on Madison Square Garden from $240.00 to $230.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $253.60.

Madison Square Garden Stock Performance

MSGS opened at $196.8460 on Friday. The company has a market cap of $4.73 billion, a PE ratio of -213.96 and a beta of 0.79. The stock has a 50-day moving average of $201.91 and a 200-day moving average of $197.24. The Madison Square Garden Company has a 52-week low of $173.26 and a 52-week high of $237.99.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $151.00 million. During the same quarter in the prior year, the company posted $1.06 EPS. The firm’s revenue was down 10.3% on a year-over-year basis. On average, 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.