21,421 Shares in The Madison Square Garden Company $MSGS Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC bought a new position in shares of The Madison Square Garden Company (NYSE:MSGS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 21,421 shares of the company’s stock, valued at approximately $5,596,000.

Other large investors have also added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of Madison Square Garden in the fourth quarter worth $26,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Madison Square Garden by 67.1% during the 4th 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 in the last quarter. Global Retirement Partners LLC lifted its stake in shares of Madison Square Garden by 1,150.0% during the 4th quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock valued at $32,000 after buying an additional 115 shares in the last quarter. Salomon & Ludwin LLC boosted its holdings in Madison Square Garden by 33.1% in the 4th quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock worth $40,000 after buying an additional 39 shares during the period. Finally, Sound Income Strategies LLC purchased a new stake in Madison Square Garden in the 4th quarter worth $45,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Madison Square Garden Stock Performance

Shares of Madison Square Garden stock opened at $387.01 on Friday. The stock has a market cap of $9.32 billion, a price-to-earnings ratio of -416.13 and a beta of 0.61. The stock has a 50 day moving average price of $369.04 and a 200-day moving average price of $324.94. The Madison Square Garden Company has a one year low of $188.60 and a one year high of $411.73.

Madison Square Garden (NYSE:MSGS) last released its earnings results on Friday, May 8th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($1.39). The firm had revenue of $432.20 million for the quarter, compared to analysts’ expectations of $429.66 million. During the same period in the previous year, the business earned ($0.59) EPS. The company’s revenue was up 1.9% on a year-over-year basis. Sell-side analysts predict that The Madison Square Garden Company will post -0.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MSGS. Weiss Ratings reiterated a “hold (c-)” rating on shares of Madison Square Garden in a research report on Wednesday, June 24th. Guggenheim upped their price target on Madison Square Garden from $422.00 to $470.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Wall Street Zen lowered shares of Madison Square Garden from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Susquehanna lifted their price objective on shares of Madison Square Garden from $429.00 to $430.00 and gave the company a “positive” rating in a research report on Tuesday, June 23rd. Finally, Seaport Research Partners boosted their target price on shares of Madison Square Garden from $430.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Madison Square Garden currently has an average rating of “Hold” and an average target price of $357.00.

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.