Oppenheimer Asset Management Inc. Invests $515,000 in The Madison Square Garden Company $MSGS

Oppenheimer Asset Management Inc. bought a new position in shares of The Madison Square Garden Company (NYSE:MSGS) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,991 shares of the company’s stock, valued at approximately $515,000.

Several other hedge funds have also modified their holdings of the company. M&T Bank Corp boosted its stake in shares of Madison Square Garden by 15.1% during the 4th quarter. M&T Bank Corp now owns 1,263 shares of the company’s stock worth $327,000 after acquiring an additional 166 shares in the last quarter. Camelot Portfolios LLC purchased a new stake in shares of Madison Square Garden during the 4th quarter worth about $129,000. Pictet Asset Management Holding SA boosted its stake in shares of Madison Square Garden by 11.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,230 shares of the company’s stock worth $577,000 after acquiring an additional 230 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of Madison Square Garden by 16.2% during the 4th quarter. Sanctuary Advisors LLC now owns 1,099 shares of the company’s stock worth $284,000 after purchasing an additional 153 shares during the last quarter. Finally, Salomon & Ludwin LLC raised its position in shares of 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 purchasing an additional 39 shares during the last quarter. 68.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MSGS has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, March 27th. Seaport Research Partners upgraded shares of Madison Square Garden from a “neutral” rating to a “buy” rating and set a $430.00 price target for the company in a research report on Friday, April 10th. Wall Street Zen upgraded shares of Madison Square Garden from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 14th. Citigroup downgraded shares of Madison Square Garden from a “buy” rating to a “neutral” rating and upped their price target for the stock from $337.00 to $355.00 in a research report on Thursday, April 23rd. Finally, Susquehanna upped their price target on shares of Madison Square Garden from $356.00 to $388.00 and gave the stock a “positive” rating in a research report on Thursday, April 9th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Madison Square Garden has a consensus rating of “Hold” and a consensus target price of $333.80.

Madison Square Garden Stock Down 1.1%

MSGS opened at $331.30 on Friday. The Madison Square Garden Company has a twelve month low of $186.00 and a twelve month high of $345.50. The company has a 50-day moving average price of $323.98 and a 200 day moving average price of $277.92. The company has a market cap of $7.97 billion, a PE ratio of -480.15 and a beta of 0.59.

Madison Square Garden (NYSE:MSGS) last released 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 the consensus estimate of $394.58 million. The company’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the firm posted $0.05 EPS. As a group, sell-side analysts expect that The Madison Square Garden Company will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In other Madison Square Garden news, Director Charles P. Dolan sold 5,659 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $325.26, for a total value of $1,840,646.34. Following the completion of the sale, the director owned 435 shares in the company, valued at approximately $141,488.10. This represents a 92.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 19.07% of the company’s stock.

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.