Quantbot Technologies LP Reduces Stake in The Madison Square Garden Company $MSGS

Quantbot Technologies LP cut its position in shares of The Madison Square Garden Company (NYSE:MSGS) by 52.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,976 shares of the company’s stock after selling 3,226 shares during the quarter. Quantbot Technologies LP’s holdings in Madison Square Garden were worth $676,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Gamco Investors INC. ET AL lifted its stake in shares of Madison Square Garden by 1.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 614,788 shares of the company’s stock worth $128,460,000 after purchasing an additional 11,464 shares during the period. Greenhouse Funds LLLP increased its stake in Madison Square Garden by 6.5% in the second quarter. Greenhouse Funds LLLP now owns 434,910 shares of the company’s stock valued at $90,874,000 after purchasing an additional 26,583 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Madison Square Garden by 9.5% during the second quarter. The Manufacturers Life Insurance Company now owns 234,657 shares of the company’s stock worth $49,032,000 after buying an additional 20,277 shares during the period. Norges Bank purchased a new position in Madison Square Garden during the second quarter worth about $39,215,000. Finally, Systematic Financial Management LP boosted its stake in Madison Square Garden by 8.2% in the 2nd quarter. Systematic Financial Management LP now owns 136,688 shares of the company’s stock worth $28,561,000 after buying an additional 10,383 shares during the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

Madison Square Garden Price Performance

Shares of NYSE:MSGS opened at $313.76 on Friday. The business has a 50-day moving average of $289.08 and a two-hundred day moving average of $244.50. The firm has a market capitalization of $7.55 billion, a PE ratio of -454.72 and a beta of 0.56. The Madison Square Garden Company has a 12 month low of $173.26 and a 12 month high of $345.46.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate 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 company earned $0.05 earnings per share. Madison Square Garden’s quarterly revenue was up 12.7% on a year-over-year basis. As a group, research analysts anticipate that The Madison Square Garden Company will post 0.73 earnings per share for the current year.

Analysts Set New Price Targets

MSGS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Madison Square Garden from $240.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Guggenheim reissued a “buy” rating on shares of Madison Square Garden in a research report on Thursday, February 5th. Wolfe Research downgraded shares of Madison Square Garden from an “outperform” rating to a “hold” rating in a report on Monday, December 15th. Citigroup upped their price target on shares of Madison Square Garden from $290.00 to $337.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Finally, Wall Street Zen raised shares of Madison Square Garden from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 14th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $286.00.

Insiders Place Their Bets

In other Madison Square Garden news, Director Charles P. Dolan sold 5,659 shares of Madison Square Garden stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $325.26, for a total transaction of $1,840,646.34. Following the transaction, the director directly owned 435 shares of the company’s stock, valued at $141,488.10. The trade was a 92.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 19.07% of the stock is currently owned by company insiders.

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.