Mutual of America Capital Management LLC Decreases Stake in The Madison Square Garden Company $MSGS

Mutual of America Capital Management LLC cut its holdings in The Madison Square Garden Company (NYSE:MSGS) by 11.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,153 shares of the company’s stock after selling 287 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Madison Square Garden were worth $450,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MSGS. Fifth Third Bancorp boosted its stake in shares of Madison Square Garden by 59.5% in the second quarter. Fifth Third Bancorp now owns 185 shares of the company’s stock valued at $39,000 after buying an additional 69 shares in the last quarter. Covestor Ltd boosted its stake in shares of Madison Square Garden by 35.5% in the first quarter. Covestor Ltd now owns 416 shares of the company’s stock valued at $81,000 after buying an additional 109 shares in the last quarter. CWM LLC boosted its stake in shares of Madison Square Garden by 407.7% in the second quarter. CWM LLC now owns 528 shares of the company’s stock valued at $110,000 after buying an additional 424 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Madison Square Garden by 24.8% in the second quarter. GAMMA Investing LLC now owns 880 shares of the company’s stock valued at $184,000 after buying an additional 175 shares in the last quarter. Finally, United Services Automobile Association purchased a new stake in shares of Madison Square Garden in the first quarter valued at approximately $210,000. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

Madison Square Garden Stock Performance

Shares of MSGS opened at $227.20 on Wednesday. The Madison Square Garden Company has a fifty-two week low of $173.26 and a fifty-two week high of $237.99. The company has a market capitalization of $5.46 billion, a PE ratio of -246.96 and a beta of 0.78. The stock has a fifty day moving average of $214.16 and a two-hundred day moving average of $203.00.

Madison Square Garden (NYSE:MSGS) last posted its quarterly earnings data 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. The business had revenue of $203.96 million for the quarter, compared to analysts’ expectations of $151.00 million. Madison Square Garden had a negative return on equity of 1.76% and a negative net margin of 2.16%.The business’s revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 earnings per share. As a group, equities research analysts forecast that The Madison Square Garden Company will post 0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on MSGS shares. Morgan Stanley boosted their target price on Madison Square Garden from $215.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 13th. BTIG Research started coverage on Madison Square Garden in a research report on Tuesday, October 7th. They set a “neutral” rating on the stock. Zacks Research upgraded Madison Square Garden from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Weiss Ratings upgraded Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday. Finally, Citigroup began coverage on Madison Square Garden in a research report on Tuesday, September 9th. They set a “buy” rating and a $285.00 target price on the stock. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Madison Square Garden currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.83.

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.