Bank of New York Mellon Corp Sells 2,988 Shares of The Madison Square Garden Company $MSGS

Bank of New York Mellon Corp decreased its position in shares of The Madison Square Garden Company (NYSE:MSGS) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 87,737 shares of the company’s stock after selling 2,988 shares during the quarter. Bank of New York Mellon Corp owned about 0.36% of Madison Square Garden worth $28,199,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of Madison Square Garden during the fourth quarter worth $26,000. Caitong International Asset Management Co. Ltd lifted its holdings in Madison Square Garden by 67.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 122 shares of the company’s stock valued at $32,000 after buying an additional 49 shares during the period. SJS Investment Consulting Inc. boosted its position in Madison Square Garden by 488.2% during the first quarter. SJS Investment Consulting Inc. now owns 100 shares of the company’s stock valued at $32,000 after acquiring an additional 83 shares during the last quarter. Global Retirement Partners LLC boosted its position in Madison Square Garden by 1,150.0% during the fourth quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock valued at $32,000 after acquiring an additional 115 shares during the last quarter. Finally, Salomon & Ludwin LLC grew its holdings in Madison Square Garden by 33.1% during the 4th quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock worth $40,000 after acquiring an additional 39 shares during the period. Institutional investors and hedge funds own 68.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MSGS shares. Guggenheim boosted their price objective on Madison Square Garden from $470.00 to $522.00 and gave the company a “buy” rating in a research note on Thursday. Susquehanna raised their target price on Madison Square Garden from $429.00 to $430.00 and gave the stock a “positive” rating in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. lifted their target price on Madison Square Garden from $400.00 to $450.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Citigroup raised their price objective on shares of Madison Square Garden from $355.00 to $360.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Finally, Seaport Research Partners lifted their price objective on shares of Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Four 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 stock has a consensus rating of “Hold” and a consensus price target of $442.40.

Madison Square Garden Stock Performance

Shares of NYSE:MSGS opened at $397.32 on Tuesday. The Madison Square Garden Company has a 52-week low of $188.60 and a 52-week high of $411.73. The business’s 50 day simple moving average is $381.46 and its two-hundred day simple moving average is $336.32. The firm has a market cap of $9.57 billion, a P/E ratio of -427.23 and a beta of 0.61.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $429.66 million. During the same period last year, the company posted ($0.59) EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities analysts forecast that The Madison Square Garden Company will post -0.06 earnings per share 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.