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

Envestnet Asset Management Inc. lifted its position in shares of The Madison Square Garden Company (NYSE:MSGS) by 30.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 15,776 shares of the company’s stock after purchasing an additional 3,700 shares during the quarter. Envestnet Asset Management Inc. owned about 0.07% of Madison Square Garden worth $3,581,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in Madison Square Garden by 5,450.0% during the third quarter. Farther Finance Advisors LLC now owns 111 shares of the company’s stock worth $25,000 after buying an additional 109 shares during the period. Salomon & Ludwin LLC purchased a new stake in Madison Square Garden during the 3rd quarter worth $27,000. Hantz Financial Services Inc. acquired a new stake in Madison Square Garden in the 3rd quarter valued at $80,000. Tower Research Capital LLC TRC raised its position in Madison Square Garden by 313.4% in the second quarter. Tower Research Capital LLC TRC now owns 401 shares of the company’s stock valued at $84,000 after purchasing an additional 304 shares during the period. Finally, Quent Capital LLC acquired a new position in shares of Madison Square Garden during the third quarter worth about $118,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Analysts Set New Price Targets

MSGS has been the subject of a number of recent research reports. Wall Street Zen upgraded Madison Square Garden from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 14th. Citigroup increased 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 report on Friday, February 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of Madison Square Garden in a research report on Monday, December 29th. JPMorgan Chase & Co. raised their price target 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. Finally, Guggenheim reiterated a “buy” rating on shares of Madison Square Garden in a report on Thursday, February 5th. Four investment 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. Based on data from MarketBeat, Madison Square Garden currently has a consensus rating of “Hold” and an average target price of $286.00.

Madison Square Garden Trading Down 0.1%

MSGS stock opened at $313.83 on Wednesday. The firm has a 50 day simple moving average of $277.92 and a 200-day simple moving average of $237.81. The company has a market capitalization of $7.55 billion, a P/E ratio of -454.83 and a beta of 0.61. The Madison Square Garden Company has a twelve month low of $173.26 and a twelve month high of $345.46.

Madison Square Garden (NYSE:MSGS) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). The business had revenue of $403.42 million for the quarter, compared to analysts’ expectations of $394.58 million. Madison Square Garden’s revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.05 EPS. On average, research analysts predict that The Madison Square Garden Company will post 0.73 EPS for the current year.

Insider Buying and Selling

In related news, Director Charles P. Dolan sold 5,659 shares of Madison Square Garden stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $325.26, for a total value of $1,840,646.34. Following the completion of the transaction, the director directly owned 435 shares in the company, valued at approximately $141,488.10. This trade represents a 92.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 19.07% of the company’s stock.

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.