Bank of America Corp DE cut its holdings in shares of Madison Square Garden Co (NYSE:MSG) by 26.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,655 shares of the company’s stock after selling 17,287 shares during the period. Bank of America Corp DE’s holdings in Madison Square Garden were worth $12,757,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MSG. Vanguard Group Inc. lifted its holdings in shares of Madison Square Garden by 5.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,637,350 shares of the company’s stock valued at $516,290,000 after purchasing an additional 81,581 shares during the last quarter. Vanguard Group Inc increased its position in Madison Square Garden by 5.2% during the 3rd quarter. Vanguard Group Inc now owns 1,637,350 shares of the company’s stock valued at $516,290,000 after buying an additional 81,581 shares in the last quarter. BlackRock Inc. raised its stake in Madison Square Garden by 9.6% in the fourth quarter. BlackRock Inc. now owns 925,368 shares of the company’s stock valued at $247,721,000 after buying an additional 81,296 shares during the last quarter. Gabelli Funds LLC raised its stake in Madison Square Garden by 1.7% in the fourth quarter. Gabelli Funds LLC now owns 526,283 shares of the company’s stock valued at $140,886,000 after buying an additional 8,950 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in Madison Square Garden by 37.7% in the third quarter. Point72 Asset Management L.P. now owns 350,888 shares of the company’s stock worth $110,642,000 after acquiring an additional 96,049 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Shares of MSG opened at $300.21 on Wednesday. The firm has a market cap of $7.06 billion, a PE ratio of 50.54 and a beta of 0.54. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Madison Square Garden Co has a 1-year low of $236.78 and a 1-year high of $330.00.

Madison Square Garden (NYSE:MSG) last issued its earnings results on Friday, February 1st. The company reported $3.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.09 by $1.33. Madison Square Garden had a return on equity of 0.48% and a net margin of 0.77%. The company had revenue of $632.20 million during the quarter, compared to analyst estimates of $589.52 million. During the same quarter last year, the business posted $7.96 EPS. The firm’s quarterly revenue was up 17.9% on a year-over-year basis. Sell-side analysts anticipate that Madison Square Garden Co will post 0.54 EPS for the current fiscal year.

A number of brokerages have recently weighed in on MSG. Zacks Investment Research upgraded Madison Square Garden from a “hold” rating to a “buy” rating and set a $333.00 price target on the stock in a research note on Monday. Imperial Capital reaffirmed a “buy” rating and issued a $383.00 price objective on shares of Madison Square Garden in a research report on Friday, March 29th. Finally, TheStreet cut shares of Madison Square Garden from a “b-” rating to a “c+” rating in a research note on Tuesday, March 26th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Madison Square Garden presently has a consensus rating of “Buy” and an average price target of $347.00.

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Madison Square Garden Company Profile

The Madison Square Garden Company, together with its subsidiaries, engages in live sports and entertainment businesses in the United States. The company operates in two segments, MSG Sports and MSG Entertainment. The MSG Sports segment owns and operates professional sports franchises; and promotes, produces, and/or presents an array of other live sporting events, including professional boxing, college basketball, college hockey, professional bull riding, mixed martial arts, esports, tennis, and college wrestling.

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

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