The Madison Square Garden Company $MSGS Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in shares of The Madison Square Garden Company (NYSE:MSGS) by 84.0% during the first quarter, Holdings Channel reports. The fund owned 1,065 shares of the company’s stock after selling 5,593 shares during the period. SG Americas Securities LLC’s holdings in Madison Square Garden were worth $342,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of MSGS. Aster Capital Management DIFC Ltd acquired a new stake in Madison Square Garden in the 4th quarter valued at about $26,000. Caitong International Asset Management Co. Ltd raised its holdings in Madison Square Garden by 67.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 122 shares of the company’s stock valued at $32,000 after acquiring an additional 49 shares in the last quarter. Global Retirement Partners LLC lifted its stake in Madison Square Garden by 1,150.0% in the fourth quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock worth $32,000 after acquiring an additional 115 shares during the last quarter. Salomon & Ludwin LLC increased its position in shares of Madison Square Garden by 33.1% in the 4th quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock valued at $40,000 after purchasing an additional 39 shares during the last quarter. Finally, Sound Income Strategies LLC acquired a new stake in shares of Madison Square Garden in the 4th quarter valued at $45,000. 68.94% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden Stock Down 1.6%

Shares of MSGS stock opened at $387.01 on Friday. The stock’s 50-day moving average price is $369.04 and its 200 day moving average price is $324.94. The stock has a market capitalization of $9.32 billion, a PE ratio of -416.13 and a beta of 0.61. The Madison Square Garden Company has a 52-week low of $188.60 and a 52-week high of $411.73.

Madison Square Garden (NYSE:MSGS) last posted 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 business had revenue of $432.20 million during the quarter, compared to the consensus estimate of $429.66 million. During the same period last year, the firm earned ($0.59) earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts expect that The Madison Square Garden Company will post -0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MSGS. Susquehanna boosted their target price on shares of Madison Square Garden from $429.00 to $430.00 and gave the stock a “positive” rating in a research note on Tuesday, June 23rd. Guggenheim upped their price objective on Madison Square Garden from $422.00 to $470.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Seaport Research Partners raised their target price on Madison Square Garden from $430.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Citigroup upped their price target on Madison Square Garden from $355.00 to $360.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen cut shares of Madison Square Garden from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Madison Square Garden has an average rating of “Hold” and an average price target of $357.00.

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.