Pullen Investment Management LLC Grows Position in The Madison Square Garden Company $MSGS

Pullen Investment Management LLC boosted its position in shares of The Madison Square Garden Company (NYSE:MSGS) by 16.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 12,647 shares of the company’s stock after acquiring an additional 1,810 shares during the quarter. Madison Square Garden makes up about 1.6% of Pullen Investment Management LLC’s portfolio, making the stock its 16th biggest position. Pullen Investment Management LLC’s holdings in Madison Square Garden were worth $2,871,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its stake in shares of Madison Square Garden by 28.2% during the 1st 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Madison Square Garden in the 2nd quarter valued at $288,000. Blume Capital Management Inc. purchased a new stake in Madison Square Garden in the second quarter worth $638,000. Y Intercept Hong Kong Ltd increased its stake in Madison Square Garden by 775.0% in the second quarter. Y Intercept Hong Kong Ltd now owns 16,888 shares of the company’s stock worth $3,529,000 after purchasing an additional 14,958 shares during the period. Finally, Advisors Capital Management LLC lifted its position in shares of Madison Square Garden by 12.2% during the second quarter. Advisors Capital Management LLC now owns 11,861 shares of the company’s stock worth $2,478,000 after purchasing an additional 1,291 shares during the last quarter. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Stock Performance

NYSE:MSGS opened at $278.01 on Wednesday. The firm has a 50-day simple moving average of $236.76 and a 200-day simple moving average of $219.47. The Madison Square Garden Company has a one year low of $173.26 and a one year high of $278.49. The firm has a market cap of $6.68 billion, a P/E ratio of -283.68 and a beta of 0.63.

Madison Square Garden (NYSE:MSGS) last issued its quarterly earnings data on Friday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.67. The business had revenue of $39.45 million for the quarter, compared to analysts’ expectations of $41.41 million. The business’s quarterly revenue was down 26.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.31) earnings per share. On average, research analysts predict that The Madison Square Garden Company will post 0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Citigroup upped their price target on shares of Madison Square Garden from $285.00 to $290.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Weiss Ratings restated a “sell (d+)” rating on shares of Madison Square Garden in a research note on Monday, December 29th. JPMorgan Chase & Co. raised their target price on shares of Madison Square Garden from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Zacks Research upgraded Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Finally, BTIG Research initiated coverage on Madison Square Garden in a research note on Tuesday, October 7th. They issued a “neutral” rating on the stock. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $261.33.

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.