Rhumbline Advisers Purchases 3,043 Shares of The Madison Square Garden Company $MSGS

Rhumbline Advisers raised its holdings in shares of The Madison Square Garden Company (NYSE:MSGS) by 7.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,500 shares of the company’s stock after buying an additional 3,043 shares during the period. Rhumbline Advisers’ holdings in Madison Square Garden were worth $9,420,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Amundi boosted its holdings 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 acquiring an additional 252 shares during the period. Millennium Management LLC lifted its position in shares of Madison Square Garden by 8.0% during the first quarter. Millennium Management LLC now owns 27,147 shares of the company’s stock worth $5,286,000 after purchasing an additional 2,006 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Madison Square Garden by 28.2% during the first quarter. Goldman Sachs Group Inc. now owns 24,807 shares of the company’s stock valued at $4,830,000 after purchasing an additional 5,452 shares during the period. United Services Automobile Association purchased a new stake in shares of Madison Square Garden during the first quarter valued at $210,000. Finally, Empowered Funds LLC grew its holdings in shares of Madison Square Garden by 10.8% in the first quarter. Empowered Funds LLC now owns 2,055 shares of the company’s stock worth $400,000 after purchasing an additional 200 shares during the last quarter. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MSGS shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Madison Square Garden in a report on Monday, December 29th. Wolfe Research downgraded shares of Madison Square Garden from an “outperform” rating to a “hold” rating in a research note on Monday, December 15th. Guggenheim reiterated a “buy” rating on shares of Madison Square Garden in a report on Thursday, February 5th. Wall Street Zen raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, JPMorgan Chase & Co. lifted their target price on Madison Square Garden from $240.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $280.00.

Madison Square Garden Stock Down 1.0%

Shares of MSGS stock opened at $325.32 on Friday. The firm has a market cap of $7.83 billion, a price-to-earnings ratio of -471.48 and a beta of 0.61. The Madison Square Garden Company has a 52-week low of $173.26 and a 52-week high of $345.46. The company’s 50 day moving average is $274.83 and its 200 day moving average is $235.76.

Madison Square Garden (NYSE:MSGS) last posted its earnings results on Thursday, February 5th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). The business had revenue of $403.42 million during the quarter, compared to the consensus estimate of $394.58 million. During the same period in the prior year, the company posted $0.05 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. Analysts anticipate that The Madison Square Garden Company will post 0.73 EPS for the current fiscal year.

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.