Geode Capital Management LLC Purchases 3,705 Shares of The Madison Square Garden Company $MSGS

Geode Capital Management LLC lifted its position in The Madison Square Garden Company (NYSE:MSGS) by 1.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 291,057 shares of the company’s stock after acquiring an additional 3,705 shares during the period. Geode Capital Management LLC owned 1.21% of Madison Square Garden worth $75,301,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Steel Grove Capital Advisors LLC bought a new position in shares of Madison Square Garden in the 4th quarter worth approximately $231,000. Roundview Capital LLC bought a new position in shares of Madison Square Garden in the 4th quarter worth approximately $894,000. Systematic Financial Management LP raised its position in shares of Madison Square Garden by 3.6% in the 4th quarter. Systematic Financial Management LP now owns 156,489 shares of the company’s stock worth $40,476,000 after acquiring an additional 5,450 shares in the last quarter. Insight Inv LLC raised its position in shares of Madison Square Garden by 9.1% in the 4th quarter. Insight Inv LLC now owns 9,510 shares of the company’s stock worth $2,460,000 after acquiring an additional 795 shares in the last quarter. Finally, Global Retirement Partners LLC raised its position in shares of Madison Square Garden by 1,150.0% in the 4th quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock worth $32,000 after acquiring an additional 115 shares in the last quarter. Institutional investors own 68.94% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Guggenheim increased their target price on Madison Square Garden from $422.00 to $470.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Wall Street Zen lowered Madison Square Garden from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Susquehanna raised their price objective on Madison Square Garden from $404.00 to $429.00 and gave the company a “positive” rating in a research report on Thursday, May 28th. Citigroup raised their price objective on Madison Square Garden from $355.00 to $360.00 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. Finally, Weiss Ratings raised Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, March 27th. Three equities 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, the stock presently has an average rating of “Hold” and a consensus price target of $356.80.

Madison Square Garden Stock Down 0.7%

MSGS stock opened at $383.65 on Tuesday. The Madison Square Garden Company has a twelve month low of $186.00 and a twelve month high of $392.56. The firm has a market cap of $9.24 billion, a PE ratio of -412.52 and a beta of 0.61. The business has a 50 day moving average of $343.48 and a 200 day moving average of $299.67.

Madison Square Garden (NYSE:MSGS) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($1.39). The company 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 business posted ($0.59) earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, research analysts expect that The Madison Square Garden Company will post -0.5 earnings per share for the current fiscal 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.