The Madison Square Garden Company $MSGS Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its holdings in shares of The Madison Square Garden Company (NYSE:MSGS) by 42.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,658 shares of the company’s stock after selling 4,819 shares during the period. SG Americas Securities LLC’s holdings in Madison Square Garden were worth $1,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Independent Advisor Alliance boosted its holdings in Madison Square Garden by 2.7% during the third quarter. Independent Advisor Alliance now owns 1,765 shares of the company’s stock worth $401,000 after buying an additional 46 shares in the last quarter. Two Sigma Investments LP boosted its stake in Madison Square Garden by 0.4% during the 3rd quarter. Two Sigma Investments LP now owns 11,898 shares of the company’s stock worth $2,701,000 after purchasing an additional 48 shares during the last quarter. Cibc World Market Inc. boosted its position in Madison Square Garden by 2.8% during the third quarter. Cibc World Market Inc. now owns 1,881 shares of the company’s stock worth $427,000 after acquiring an additional 51 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Madison Square Garden by 1.2% during the 3rd quarter. Sei Investments Co. now owns 4,289 shares of the company’s stock worth $974,000 after purchasing an additional 52 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Madison Square Garden by 19.2% during the third quarter. Smartleaf Asset Management LLC now owns 373 shares of the company’s stock worth $86,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Analysts Set New Price Targets

MSGS has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Madison Square Garden from $240.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Wolfe Research cut Madison Square Garden from an “outperform” rating to a “hold” rating in a report on Monday, December 15th. Citigroup boosted their price target on shares of Madison Square Garden from $290.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Weiss Ratings raised Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, March 27th. Finally, Guggenheim reiterated a “buy” rating on shares of Madison Square Garden in a research note on Thursday, February 5th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $286.00.

Insider Buying and Selling at Madison Square Garden

In other news, Director Charles P. Dolan sold 5,659 shares of Madison Square Garden stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $325.26, for a total value of $1,840,646.34. Following the sale, the director owned 435 shares of the company’s stock, valued at $141,488.10. The trade was a 92.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.07% of the stock is currently owned by insiders.

Madison Square Garden Price Performance

Shares of NYSE:MSGS opened at $325.18 on Monday. The Madison Square Garden Company has a 1-year low of $173.26 and a 1-year high of $345.46. The firm has a fifty day moving average price of $306.69 and a 200 day moving average price of $260.79. The stock has a market cap of $7.83 billion, a P/E ratio of -471.28 and a beta of 0.59.

Madison Square Garden (NYSE:MSGS) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.32). The company had revenue of $403.42 million during the quarter, compared to analysts’ expectations of $394.58 million. During the same quarter in the previous year, the business earned $0.05 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. Sell-side analysts expect that The Madison Square Garden Company will post 0.73 EPS for the current fiscal year.

Madison Square Garden 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.