The Madison Square Garden Company $MSGS Shares Acquired by Clearline Capital LP

Clearline Capital LP lifted its stake in The Madison Square Garden Company (NYSE:MSGS) by 24.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 121,116 shares of the company’s stock after acquiring an additional 23,425 shares during the period. Madison Square Garden accounts for approximately 1.3% of Clearline Capital LP’s portfolio, making the stock its 9th biggest position. Clearline Capital LP’s holdings in Madison Square Garden were worth $27,493,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its stake in Madison Square Garden by 30.6% in the third quarter. Envestnet Asset Management Inc. now owns 15,776 shares of the company’s stock valued at $3,581,000 after acquiring an additional 3,700 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Madison Square Garden during the second quarter worth about $288,000. JPMorgan Chase & Co. lifted its holdings in shares of Madison Square Garden by 11.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 117,905 shares of the company’s stock valued at $26,764,000 after purchasing an additional 12,412 shares during the last quarter. Citigroup Inc. boosted its position in shares of Madison Square Garden by 294.7% in the 3rd quarter. Citigroup Inc. now owns 39,718 shares of the company’s stock valued at $9,016,000 after purchasing an additional 29,656 shares during the period. Finally, Advisors Capital Management LLC grew its stake in Madison Square Garden by 12.2% during the 2nd quarter. Advisors Capital Management LLC now owns 11,861 shares of the company’s stock worth $2,478,000 after buying an additional 1,291 shares during the last quarter. 68.94% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Madison Square Garden

In other Madison Square Garden news, Director Charles P. Dolan sold 5,659 shares of the business’s stock in a transaction on 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 transaction, the director directly owned 435 shares of the company’s stock, valued at approximately $141,488.10. The trade was a 92.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 19.07% of the company’s stock.

Madison Square Garden Trading Up 0.1%

Madison Square Garden stock opened at $312.55 on Friday. The stock has a 50 day moving average of $294.63 and a two-hundred day moving average of $248.60. The Madison Square Garden Company has a twelve month low of $173.26 and a twelve month high of $345.46. The stock has a market capitalization of $7.52 billion, a price-to-earnings ratio of -452.97 and a beta of 0.56.

Madison Square Garden (NYSE:MSGS) last released its earnings results on Thursday, February 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). The firm had revenue of $403.42 million during the quarter, compared to analyst estimates of $394.58 million. During the same quarter in the prior year, the firm posted $0.05 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. Equities analysts predict that The Madison Square Garden Company will post 0.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on MSGS. Wall Street Zen raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 14th. Weiss Ratings restated a “sell (d+)” rating on shares of Madison Square Garden in a research report on Monday, December 29th. Citigroup lifted their target price on shares of Madison Square Garden from $290.00 to $337.00 and gave the company a “buy” rating in a report on Friday, February 13th. Wolfe Research cut shares of Madison Square Garden from an “outperform” rating to a “hold” rating in a research note on Monday, December 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Madison Square Garden from $240.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Madison Square Garden presently has an average rating of “Hold” and a consensus price target of $286.00.

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.