Long Pond Capital LP cut its stake in shares of The Madison Square Garden Company (NYSE:MSG) by 33.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 315,268 shares of the company’s stock after selling 157,489 shares during the period. The Madison Square Garden accounts for about 2.4% of Long Pond Capital LP’s investment portfolio, making the stock its 12th biggest holding. Long Pond Capital LP owned 1.34% of The Madison Square Garden worth $67,499,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Gluskin Sheff & Assoc Inc. raised its stake in The Madison Square Garden by 5.8% in the second quarter. Gluskin Sheff & Assoc Inc. now owns 397,128 shares of the company’s stock valued at $78,195,000 after buying an additional 21,857 shares during the period. Janus Henderson Group PLC bought a new stake in The Madison Square Garden in the second quarter valued at approximately $75,632,000. FMR LLC raised its stake in The Madison Square Garden by 12.6% in the second quarter. FMR LLC now owns 360,804 shares of the company’s stock valued at $71,042,000 after buying an additional 40,427 shares during the period. Renaissance Technologies LLC increased its stake in shares of The Madison Square Garden by 100.0% during the second quarter. Renaissance Technologies LLC now owns 227,800 shares of the company’s stock worth $44,854,000 after purchasing an additional 113,900 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of The Madison Square Garden by 59.2% during the third quarter. Russell Investments Group Ltd. now owns 195,035 shares of the company’s stock worth $41,756,000 after purchasing an additional 72,559 shares during the period. 71.28% of the stock is owned by hedge funds and other institutional investors.

Shares of The Madison Square Garden Company (MSG) traded up $0.42 during mid-day trading on Monday, hitting $217.07. The company’s stock had a trading volume of 152,100 shares, compared to its average volume of 176,614. The Madison Square Garden Company has a 52-week low of $166.86 and a 52-week high of $231.44. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.92 and a current ratio of 1.92.

The Madison Square Garden (NYSE:MSG) last issued its earnings results on Friday, November 3rd. The company reported ($0.47) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.65) by $0.18. The firm had revenue of $245.04 million for the quarter, compared to the consensus estimate of $237.06 million. The Madison Square Garden had a negative return on equity of 1.75% and a negative net margin of 4.00%. The company’s revenue was up 34.9% compared to the same quarter last year. During the same quarter last year, the business posted ($1.19) EPS. analysts forecast that The Madison Square Garden Company will post 0.66 earnings per share for the current year.

MSG has been the topic of a number of recent research reports. BTIG Research set a $260.00 price objective on The Madison Square Garden and gave the stock a “buy” rating in a research note on Monday, September 11th. Zacks Investment Research lowered The Madison Square Garden from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Loop Capital raised their price objective on The Madison Square Garden from $266.00 to $268.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. Jefferies Group restated a “hold” rating and set a $200.00 price objective on shares of The Madison Square Garden in a research note on Tuesday, October 24th. Finally, ValuEngine lowered The Madison Square Garden from a “hold” rating to a “sell” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $217.78.

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The Madison Square Garden Profile

The Madison Square Garden Company is a holding company, which is engaged in live experiences consisting of celebrated venues, sports teams, and entertainment productions. The Company operates in two segments, which include MSG Entertainment and MSG Sports. The MSG Sports segment includes the Company’s professional sports franchises, which include the New York Knicks (the Knicks) of the National Basketball Association (the NBA), the New York Rangers (the Rangers) of the National Hockey League (the NHL), the New York Liberty (the Liberty) of the Women’s National Basketball Association (the WNBA), the Hartford Wolf Pack of the American Hockey League (the AHL), which is the primary player development team for the Rangers, and the Westchester Knicks, an NBA Development League team.

Institutional Ownership by Quarter for The Madison Square Garden (NYSE:MSG)

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