Robertson Stephens Wealth Management LLC Buys Shares of 8,784 The Madison Square Garden Company $MSGS

Robertson Stephens Wealth Management LLC bought a new stake in The Madison Square Garden Company (NYSE:MSGS) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 8,784 shares of the company’s stock, valued at approximately $2,272,000.

Other large investors also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its holdings in Madison Square Garden by 5,450.0% in the third quarter. Farther Finance Advisors LLC now owns 111 shares of the company’s stock valued at $25,000 after purchasing an additional 109 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in Madison Square Garden in the third quarter valued at $27,000. Accredited Wealth Management LLC grew its holdings in Madison Square Garden by 524.0% in 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. Sound Income Strategies LLC acquired a new stake in Madison Square Garden in the fourth quarter valued at $45,000. Finally, Hantz Financial Services Inc. acquired a new stake in Madison Square Garden in the third quarter valued at $80,000. Institutional investors and hedge funds own 68.94% of the company’s stock.

Madison Square Garden Price Performance

MSGS opened at $340.72 on Friday. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of -493.80 and a beta of 0.59. The business has a 50-day moving average of $322.96 and a two-hundred day moving average of $275.11. The Madison Square Garden Company has a 12 month low of $184.63 and a 12 month high of $345.50.

Madison Square Garden (NYSE:MSGS) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.32). The business had revenue of $403.42 million during the quarter, compared to the consensus estimate of $394.58 million. Madison Square Garden’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the business earned $0.05 EPS. Equities research analysts anticipate that The Madison Square Garden Company will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on MSGS. Wall Street Zen raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Saturday, February 14th. Susquehanna upped their target price on Madison Square Garden from $356.00 to $388.00 and gave the company a “positive” rating in a report on Thursday, April 9th. Weiss Ratings raised Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, March 27th. JPMorgan Chase & Co. upped their target price on Madison Square Garden from $240.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Finally, Citigroup lowered Madison Square Garden from a “buy” rating to a “neutral” rating and upped their target price for the company from $337.00 to $355.00 in a report on Thursday, April 23rd. Three 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 currently has a consensus rating of “Hold” and a consensus price target of $333.80.

Insider Buying and Selling

In other Madison Square Garden news, Director Charles P. Dolan sold 5,659 shares of Madison Square Garden stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $325.26, for a total value of $1,840,646.34. Following the completion of the sale, the director owned 435 shares in the company, valued at $141,488.10. The trade was a 92.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 19.07% of the stock is owned by company insiders.

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.