First Citizens Bank & Trust Co. acquired a new position in Madison Square Garden Co (NYSE:MSG) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,224 shares of the company’s stock, valued at approximately $1,017,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MSG. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of Madison Square Garden in the second quarter worth $118,000. Massey Quick Simon & CO. LLC purchased a new stake in shares of Madison Square Garden in the second quarter worth $206,000. Levin Capital Strategies L.P. purchased a new stake in shares of Madison Square Garden in the first quarter worth $208,000. Investment House LLC purchased a new stake in shares of Madison Square Garden in the second quarter worth $225,000. Finally, CIBC World Markets Inc. purchased a new stake in shares of Madison Square Garden in the first quarter worth $231,000. 69.95% of the stock is currently owned by hedge funds and other institutional investors.

Madison Square Garden stock opened at $287.41 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.85 and a current ratio of 1.85. Madison Square Garden Co has a one year low of $205.22 and a one year high of $330.00. The firm has a market cap of $6.77 billion, a P/E ratio of 246.52, a price-to-earnings-growth ratio of 15.73 and a beta of 0.37.

Madison Square Garden (NYSE:MSG) last released its quarterly earnings data on Thursday, August 16th. The company reported ($1.94) EPS for the quarter, beating the consensus estimate of ($2.00) by $0.06. Madison Square Garden had a return on equity of 1.10% and a net margin of 9.08%. The company had revenue of $318.00 million for the quarter, compared to analysts’ expectations of $293.32 million. During the same period last year, the firm posted ($3.58) earnings per share. Madison Square Garden’s revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts anticipate that Madison Square Garden Co will post 0.71 EPS for the current fiscal year.

A number of equities research analysts have recently commented on the company. Zacks Investment Research raised Madison Square Garden from a “sell” rating to a “hold” rating in a research note on Wednesday. Jefferies Financial Group raised Madison Square Garden from a “hold” rating to a “buy” rating and increased their target price for the stock from $233.00 to $350.00 in a research note on Thursday, June 28th. ValuEngine raised Madison Square Garden from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 28th. Macquarie raised Madison Square Garden from a “neutral” rating to an “outperform” rating in a research note on Friday, June 29th. Finally, Guggenheim increased their target price on Madison Square Garden to $350.00 and gave the stock a “buy” rating in a research note on Thursday, August 23rd. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $322.17.

About Madison Square Garden

The Madison Square Garden Company, together with its subsidiaries, engages in live sports and entertainment businesses in the United States. The company operates in two segments, MSG Sports and MSG Entertainment. The MSG Sports segment owns and operates professional sports franchises; and promotes, produces, and/or presents an array of other live sporting events, including professional boxing, college basketball, college hockey, professional bull riding, mixed martial arts, esports, tennis, and college wrestling.

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Institutional Ownership by Quarter for Madison Square Garden (NYSE:MSG)

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