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

Clearline Capital LP raised its position in shares of The Madison Square Garden Company (NYSE:MSGS) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 123,880 shares of the company’s stock after purchasing an additional 2,764 shares during the period. Madison Square Garden accounts for approximately 1.6% of Clearline Capital LP’s holdings, making the stock its 14th biggest position. Clearline Capital LP owned approximately 0.51% of Madison Square Garden worth $32,042,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MSGS. Amundi boosted its stake in Madison Square Garden by 4.7% during the 1st quarter. Amundi now owns 5,643 shares of the company’s stock valued at $1,091,000 after purchasing an additional 252 shares during the period. Millennium Management LLC boosted its stake in Madison Square Garden by 8.0% during the 1st quarter. Millennium Management LLC now owns 27,147 shares of the company’s stock valued at $5,286,000 after purchasing an additional 2,006 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Madison Square Garden by 28.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 24,807 shares of the company’s stock worth $4,830,000 after buying an additional 5,452 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Madison Square Garden during the 1st quarter worth about $210,000. Finally, Empowered Funds LLC raised its position in shares of Madison Square Garden by 10.8% during the 1st quarter. Empowered Funds LLC now owns 2,055 shares of the company’s stock worth $400,000 after buying an additional 200 shares in the last quarter. 68.94% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden Price Performance

NYSE MSGS opened at $360.94 on Thursday. The company’s 50 day simple moving average is $351.94 and its 200 day simple moving average is $307.56. The Madison Square Garden Company has a 12 month low of $186.21 and a 12 month high of $397.00. The company has a market capitalization of $8.69 billion, a P/E ratio of -388.10 and a beta of 0.61.

Madison Square Garden (NYSE:MSGS) last released its earnings results on Friday, May 8th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($1.39). The company had revenue of $432.20 million for the quarter, compared to analyst estimates of $429.66 million. During the same quarter in the prior year, the firm earned ($0.59) EPS. Madison Square Garden’s quarterly revenue was up 1.9% on a year-over-year basis. On average, analysts anticipate that The Madison Square Garden Company will post -0.5 earnings per share for the current year.

Analyst Ratings Changes

MSGS has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Madison Square Garden from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Guggenheim boosted their price target on shares of Madison Square Garden from $422.00 to $470.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Weiss Ratings upgraded shares of Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, March 27th. Seaport Research Partners boosted their price target on shares of Madison Square Garden from $430.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Finally, Susquehanna boosted their price target on shares of Madison Square Garden from $404.00 to $429.00 and gave the stock a “positive” rating in a research report on Thursday, May 28th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $356.80.

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.