The Madison Square Garden Company $MSGS Shares Acquired by Systematic Financial Management LP

Systematic Financial Management LP grew its holdings in The Madison Square Garden Company (NYSE:MSGS) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 156,489 shares of the company’s stock after acquiring an additional 5,450 shares during the quarter. Madison Square Garden accounts for approximately 1.0% of Systematic Financial Management LP’s holdings, making the stock its 28th largest holding. Systematic Financial Management LP owned 0.65% of Madison Square Garden worth $40,476,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of Madison Square Garden by 11.8% during the third quarter. JPMorgan Chase & Co. now owns 117,905 shares of the company’s stock valued at $26,764,000 after buying an additional 12,412 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Madison Square Garden by 30.6% during the third quarter. Envestnet Asset Management Inc. now owns 15,776 shares of the company’s stock valued at $3,581,000 after buying an additional 3,700 shares during the last quarter. Gabelli Funds LLC grew its holdings in shares of Madison Square Garden by 0.9% during the fourth quarter. Gabelli Funds LLC now owns 394,292 shares of the company’s stock valued at $101,984,000 after buying an additional 3,607 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Madison Square Garden by 294.7% during the third quarter. Citigroup Inc. now owns 39,718 shares of the company’s stock valued at $9,016,000 after buying an additional 29,656 shares during the last quarter. Finally, M&T Bank Corp grew its holdings in shares of Madison Square Garden by 1,394.6% during the fourth quarter. M&T Bank Corp now owns 16,396 shares of the company’s stock valued at $4,241,000 after buying an additional 15,299 shares during the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MSGS shares. Citigroup boosted their price objective on shares of Madison Square Garden from $355.00 to $360.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. 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 research report on Friday, February 6th. Seaport Research Partners upgraded Madison Square Garden from a “neutral” rating to a “buy” rating and set a $430.00 target price on the stock in a research report on Friday, April 10th. Weiss Ratings upgraded Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, March 27th. Finally, Wall Street Zen lowered Madison Square Garden from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $342.20.

Madison Square Garden Stock Up 0.4%

Shares of NYSE MSGS opened at $353.80 on Friday. The Madison Square Garden Company has a 52 week low of $186.00 and a 52 week high of $360.45. The firm has a market cap of $8.52 billion, a P/E ratio of -380.42 and a beta of 0.59. The business’s 50 day moving average price is $329.99 and its 200 day moving average price is $286.98.

Madison Square Garden (NYSE:MSGS) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.83) earnings per share (EPS) 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 in the previous 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. As a group, research analysts expect that The Madison Square Garden Company will post -0.5 earnings per share for the current year.

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.