The Madison Square Garden Company $MSGS Stock Position Boosted by Assetmark Inc.

Assetmark Inc. raised its stake in shares of The Madison Square Garden Company (NYSE:MSGS) by 18.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,960 shares of the company’s stock after buying an additional 2,166 shares during the period. Assetmark Inc. owned approximately 0.06% of Madison Square Garden worth $4,487,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Amundi lifted its holdings in shares of Madison Square Garden by 4.7% in the first quarter. Amundi now owns 5,643 shares of the company’s stock valued at $1,091,000 after buying an additional 252 shares during the period. Millennium Management LLC grew its holdings in Madison Square Garden by 8.0% during the first quarter. Millennium Management LLC now owns 27,147 shares of the company’s stock worth $5,286,000 after acquiring an additional 2,006 shares during the period. Goldman Sachs Group Inc. raised its position in Madison Square Garden by 28.2% in the first quarter. Goldman Sachs Group Inc. now owns 24,807 shares of the company’s stock worth $4,830,000 after acquiring an additional 5,452 shares in the last quarter. United Services Automobile Association bought a new stake in Madison Square Garden in the first quarter worth about $210,000. Finally, Empowered Funds LLC lifted its holdings in Madison Square Garden by 10.8% in the 1st quarter. Empowered Funds LLC now owns 2,055 shares of the company’s stock valued at $400,000 after acquiring an additional 200 shares during the last quarter. 68.94% of the stock is currently owned by institutional investors.

Madison Square Garden Price Performance

NYSE MSGS opened at $397.38 on Thursday. The Madison Square Garden Company has a 52-week low of $188.60 and a 52-week high of $411.73. The firm has a market capitalization of $9.57 billion, a price-to-earnings ratio of -427.29 and a beta of 0.61. The company has a 50 day simple moving average of $378.71 and a 200-day simple moving average of $333.35.

Madison Square Garden (NYSE:MSGS) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of $0.56 by ($1.39). The firm had revenue of $432.20 million for the quarter, compared to analyst estimates of $429.66 million. During the same quarter in the prior year, the company posted ($0.59) EPS. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, analysts predict that The Madison Square Garden Company will post -0.18 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MSGS shares. Morgan Stanley raised Madison Square Garden from an “equal weight” rating to an “overweight” rating and set a $450.00 price target on the stock in a report on Wednesday, July 15th. Citigroup raised their price objective on Madison Square Garden from $355.00 to $360.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Seaport Research Partners lifted their target price on Madison Square Garden from $430.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Wall Street Zen raised Madison Square Garden from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Madison Square Garden in a report on Wednesday, June 24th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $432.00.

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.