Cookson Peirce & Co. Inc. Purchases Shares of 6,652 The Madison Square Garden Company $MSGS

Cookson Peirce & Co. Inc. acquired a new stake in shares of The Madison Square Garden Company (NYSE:MSGS) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,652 shares of the company’s stock, valued at approximately $1,510,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC grew its position in Madison Square Garden by 5,450.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 111 shares of the company’s stock worth $25,000 after acquiring an additional 109 shares during the last quarter. Salomon & Ludwin LLC purchased a new stake in shares of Madison Square Garden during the third quarter valued at approximately $27,000. Hantz Financial Services Inc. bought a new position in shares of Madison Square Garden in the third quarter worth approximately $80,000. Smartleaf Asset Management LLC grew its holdings in shares of Madison Square Garden by 19.2% in the third quarter. Smartleaf Asset Management LLC now owns 373 shares of the company’s stock worth $86,000 after purchasing an additional 60 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Madison Square Garden by 313.4% in the second quarter. Tower Research Capital LLC TRC now owns 401 shares of the company’s stock worth $84,000 after buying an additional 304 shares during the period. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Trading Up 4.8%

Shares of Madison Square Garden stock opened at $291.51 on Friday. The firm has a market capitalization of $7.00 billion, a P/E ratio of -422.48 and a beta of 0.61. The business has a fifty day simple moving average of $266.20 and a two-hundred day simple moving average of $231.80. The Madison Square Garden Company has a 12 month low of $173.26 and a 12 month high of $298.97.

Madison Square Garden (NYSE:MSGS) last released its earnings results on Thursday, February 5th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). The firm had revenue of $403.42 million for the quarter, compared to analysts’ expectations of $394.58 million. During the same quarter in the previous year, the company earned $0.05 earnings per share. Madison Square Garden’s revenue for the quarter was up 12.7% on a year-over-year basis. Analysts predict that The Madison Square Garden Company will post 0.73 earnings per share for the current year.

Analyst Ratings Changes

MSGS has been the topic of a number of recent analyst reports. Citigroup raised their price target on shares of Madison Square Garden from $290.00 to $337.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. raised their target price on Madison Square Garden from $240.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Wall Street Zen upgraded Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Madison Square Garden in a report on Monday, December 29th. Finally, Wolfe Research cut Madison Square Garden from an “outperform” rating to a “hold” rating in a research note on Monday, December 15th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $280.00.

About Madison Square Garden

Madison Square Garden Sports Corp (NYSE: MSGS) is a leading sports and entertainment holding company focused on professional sports franchises and related media assets. The company owns and operates teams such as the NBA’s New York Knicks, the NHL’s New York Rangers and the WNBA’s New York Liberty. Through these flagship franchises, MSG Sports offers a range of products and services including ticketing, premium seating and sponsorship opportunities, targeting fans in the New York metropolitan area and beyond.

In addition to team operations, Madison Square Garden Sports Corp holds a majority stake in MSG Networks, a regional cable network that broadcasts live sporting events, news and original programming.