CenterBook Partners LP Buys Shares of 2,802 The Madison Square Garden Company $MSGS

CenterBook Partners LP purchased a new position in shares of The Madison Square Garden Company (NYSE:MSGS) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,802 shares of the company’s stock, valued at approximately $636,000.

A number of other institutional investors have also modified their holdings of MSGS. Norges Bank acquired a new stake in Madison Square Garden during the second quarter worth approximately $39,215,000. Bollard Group LLC acquired a new stake in shares of Madison Square Garden during the second quarter worth $25,283,000. Scopus Asset Management L.P. purchased a new stake in shares of Madison Square Garden in the second quarter valued at $14,787,000. SG Americas Securities LLC increased its stake in Madison Square Garden by 1,021.4% in the second quarter. SG Americas Securities LLC now owns 48,333 shares of the company’s stock valued at $10,099,000 after purchasing an additional 44,023 shares during the last quarter. Finally, Bank of Nova Scotia lifted its position in Madison Square Garden by 215.0% during the second quarter. Bank of Nova Scotia now owns 56,400 shares of the company’s stock worth $11,785,000 after buying an additional 38,497 shares during the period. Institutional investors and hedge funds own 68.94% of the company’s stock.

Analysts Set New Price Targets

MSGS has been the subject of a number of research analyst reports. Wolfe Research downgraded shares of Madison Square Garden from an “outperform” rating to a “hold” rating in a research note on Monday, December 15th. Wall Street Zen upgraded shares of Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Saturday, February 14th. JPMorgan Chase & Co. increased their price target on shares of Madison Square Garden from $240.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Citigroup boosted their price objective on shares of Madison Square Garden from $290.00 to $337.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Madison Square Garden in a report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $280.00.

Madison Square Garden Stock Down 1.0%

MSGS opened at $325.32 on Friday. The Madison Square Garden Company has a 52-week low of $173.26 and a 52-week high of $345.46. The company has a 50 day moving average of $274.83 and a two-hundred day moving average of $235.99. The company has a market cap of $7.83 billion, a P/E ratio of -471.48 and a beta of 0.61.

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

Madison Square Garden Company Profile

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.