The Madison Square Garden Company $MSGS Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in The Madison Square Garden Company (NYSE:MSGS) by 24.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,076 shares of the company’s stock after buying an additional 2,389 shares during the period. Envestnet Asset Management Inc. owned 0.05% of Madison Square Garden worth $2,523,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Garner Asset Management Corp acquired a new position in shares of Madison Square Garden during the first quarter valued at approximately $528,000. Wedbush Securities Inc. raised its position in Madison Square Garden by 6.5% during the first quarter. Wedbush Securities Inc. now owns 6,924 shares of the company’s stock valued at $1,348,000 after buying an additional 420 shares during the period. TD Asset Management Inc boosted its holdings in shares of Madison Square Garden by 5.2% during the first quarter. TD Asset Management Inc now owns 10,100 shares of the company’s stock worth $1,967,000 after purchasing an additional 500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Madison Square Garden by 4.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,152 shares of the company’s stock valued at $808,000 after acquiring an additional 169 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Madison Square Garden by 99.9% during the 1st quarter. Mackenzie Financial Corp now owns 85,380 shares of the company’s stock worth $16,625,000 after purchasing an additional 42,661 shares during the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

Madison Square Garden Price Performance

Shares of Madison Square Garden stock opened at $215.51 on Monday. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of -219.91 and a beta of 0.77. The stock’s 50-day moving average is $219.93 and its 200-day moving average is $205.66. The Madison Square Garden Company has a one year low of $173.26 and a one year high of $237.99.

Madison Square Garden (NYSE:MSGS) last issued its quarterly earnings results on Friday, October 31st. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($1.04) by $0.67. Madison Square Garden had a negative net margin of 2.31% and a negative return on equity of 1.76%. The firm had revenue of $39.45 million for the quarter, compared to analysts’ expectations of $41.41 million. During the same period in the previous year, the firm posted ($0.31) EPS. The company’s revenue for the quarter was down 26.0% on a year-over-year basis. On average, equities analysts expect that The Madison Square Garden Company will post 0.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MSGS shares. Zacks Research upgraded Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Morgan Stanley upped their target price on Madison Square Garden from $215.00 to $220.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 13th. Wolfe Research reaffirmed an “outperform” rating on shares of Madison Square Garden in a report on Monday, November 3rd. BTIG Research started coverage on shares of Madison Square Garden in a research note on Tuesday, October 7th. They issued a “neutral” rating for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Madison Square Garden from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Madison Square Garden presently has an average rating of “Moderate Buy” and an average target price of $260.50.

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.