Concentric Capital Strategies LP Buys 11,019 Shares of The Madison Square Garden Company $MSGS

Concentric Capital Strategies LP boosted its stake in The Madison Square Garden Company (NYSE:MSGS) by 10.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120,256 shares of the company’s stock after buying an additional 11,019 shares during the quarter. Madison Square Garden makes up about 1.5% of Concentric Capital Strategies LP’s holdings, making the stock its 7th biggest position. Concentric Capital Strategies LP’s holdings in Madison Square Garden were worth $31,104,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Aster Capital Management DIFC Ltd acquired a new position in shares of Madison Square Garden in the fourth quarter worth $26,000. 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 purchasing an additional 115 shares during the last quarter. Accredited Wealth Management LLC boosted its position in Madison Square Garden by 524.0% during the third quarter. Accredited Wealth Management LLC now owns 156 shares of the company’s stock valued at $35,000 after purchasing an additional 131 shares during the last quarter. Salomon & Ludwin LLC grew its stake in Madison Square Garden by 33.1% in the fourth quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock valued at $40,000 after purchasing an additional 39 shares in the last quarter. Finally, Sound Income Strategies LLC acquired a new position in Madison Square Garden in the 4th quarter worth about $45,000. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MSGS has been the subject of a number of recent research reports. Seaport Research Partners raised their price target on Madison Square Garden from $430.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Susquehanna increased their price objective on Madison Square Garden from $404.00 to $429.00 and gave the stock a “positive” rating in a report on Thursday, May 28th. Guggenheim raised their price objective on shares of Madison Square Garden from $422.00 to $470.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Citigroup lifted their target price on shares of Madison Square Garden from $355.00 to $360.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen lowered shares of Madison Square Garden from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Three equities research 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 an average price target of $356.80.

Madison Square Garden Price Performance

Shares of NYSE:MSGS opened at $360.94 on Thursday. The stock has a market capitalization of $8.69 billion, a P/E ratio of -388.10 and a beta of 0.61. The business has a 50-day moving average of $351.94 and a two-hundred day moving average of $307.56. The Madison Square Garden Company has a fifty-two week low of $186.21 and a fifty-two week high of $397.00.

Madison Square Garden (NYSE:MSGS) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($1.39). The company had revenue of $432.20 million during the quarter, compared to analyst estimates of $429.66 million. During the same quarter last year, the firm earned ($0.59) earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, research analysts expect that The Madison Square Garden Company will post -0.5 EPS for the current fiscal year.

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.