Boyar Asset Management Inc. Boosts Stock Holdings in The Madison Square Garden Company $MSGS

Boyar Asset Management Inc. grew its position in The Madison Square Garden Company (NYSE:MSGS) by 1.9% during the second quarter, HoldingsChannel reports. The firm owned 20,639 shares of the company’s stock after buying an additional 383 shares during the period. Madison Square Garden comprises approximately 2.8% of Boyar Asset Management Inc.’s portfolio, making the stock its 8th largest holding. Boyar Asset Management Inc.’s holdings in Madison Square Garden were worth $4,313,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Gamco Investors INC. ET AL boosted its stake in Madison Square Garden by 2.5% during the first quarter. Gamco Investors INC. ET AL now owns 603,324 shares of the company’s stock worth $117,479,000 after acquiring an additional 14,669 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Madison Square Garden by 6.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 528,545 shares of the company’s stock worth $102,919,000 after buying an additional 29,938 shares during the last quarter. Greenhouse Funds LLLP raised its holdings in Madison Square Garden by 3.5% during the first quarter. Greenhouse Funds LLLP now owns 408,327 shares of the company’s stock worth $79,509,000 after buying an additional 13,707 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Madison Square Garden by 523.2% in the first quarter. Victory Capital Management Inc. now owns 347,800 shares of the company’s stock valued at $67,724,000 after purchasing an additional 291,989 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Madison Square Garden by 15.9% in the first quarter. Northern Trust Corp now owns 135,191 shares of the company’s stock valued at $26,324,000 after purchasing an additional 18,529 shares during the last quarter. 68.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MSGS has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Madison Square Garden in a report on Saturday, September 27th. Morgan Stanley increased their target price on shares of Madison Square Garden from $215.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 13th. Finally, Citigroup began coverage on shares of Madison Square Garden in a research report on Tuesday, September 9th. They issued a “buy” rating and a $285.00 price objective for the company. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.83.

Madison Square Garden Trading Down 0.3%

MSGS stock opened at $231.90 on Friday. The Madison Square Garden Company has a 12 month low of $173.26 and a 12 month high of $237.99. The firm has a market capitalization of $5.57 billion, a P/E ratio of -252.07 and a beta of 0.78. The firm has a 50 day moving average of $206.38 and a 200-day moving average of $199.17.

Madison Square Garden (NYSE:MSGS) last announced its earnings results on Tuesday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.35. Madison Square Garden had a negative net margin of 2.16% and a negative return on equity of 1.76%. The business had revenue of $203.96 million during the quarter, compared to analyst estimates of $151.00 million. During the same period in the previous year, the business posted $1.06 earnings per share. Madison Square Garden’s revenue for the quarter was down 10.3% on a year-over-year basis. Sell-side analysts predict that The Madison Square Garden Company will post 0.73 EPS for the current year.

About Madison Square Garden

Madison Square Garden Sports Corp. operates as a professional sports company in the United States. The company owns and operates a portfolio of assets that consists of the New York Knickerbockers of the National Basketball Association (NBA) and the New York Rangers of the National Hockey League. Its other professional franchises include development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.