River Road Asset Management LLC reduced its position in The Madison Square Garden Company (NYSE:MSG) by 17.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 48,720 shares of the company’s stock after selling 10,170 shares during the period. River Road Asset Management LLC owned about 0.26% of The Madison Square Garden worth $9,593,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of MSG. Amalgamated Bank boosted its position in The Madison Square Garden by 0.5% in the first quarter. Amalgamated Bank now owns 2,796 shares of the company’s stock valued at $558,000 after buying an additional 15 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in The Madison Square Garden by 8.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 712 shares of the company’s stock valued at $140,000 after buying an additional 58 shares during the period. Prudential Financial Inc. boosted its position in The Madison Square Garden by 5.6% in the second quarter. Prudential Financial Inc. now owns 1,326 shares of the company’s stock valued at $261,000 after buying an additional 70 shares during the period. CIBC Asset Management Inc boosted its position in The Madison Square Garden by 2.4% in the second quarter. CIBC Asset Management Inc now owns 3,422 shares of the company’s stock valued at $674,000 after buying an additional 80 shares during the period. Finally, Telemus Capital LLC boosted its position in The Madison Square Garden by 1.4% in the second quarter. Telemus Capital LLC now owns 7,049 shares of the company’s stock valued at $1,388,000 after buying an additional 94 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Shares of The Madison Square Garden Company (NYSE:MSG) opened at 210.36 on Wednesday. The stock’s market capitalization is $4.95 billion. The firm’s 50-day moving average is $210.56 and its 200-day moving average is $198.68. The Madison Square Garden Company has a 52 week low of $160.96 and a 52 week high of $223.06.

The Madison Square Garden (NYSE:MSG) last issued its quarterly earnings results on Thursday, August 17th. The company reported ($3.58) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.10) by $2.48. The business had revenue of $305.60 million for the quarter, compared to analyst estimates of $279.19 million. The Madison Square Garden had a negative return on equity of 2.43% and a negative net margin of 5.52%. The firm’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.39) EPS. Analysts forecast that The Madison Square Garden Company will post $0.71 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “River Road Asset Management LLC Has $9.59 Million Stake in The Madison Square Garden Company (MSG)” was first reported by Watch List News and is the property of of Watch List News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://www.watchlistnews.com/river-road-asset-management-llc-has-9-59-million-stake-in-the-madison-square-garden-company-msg/1531821.html.

Several research firms recently issued reports on MSG. Jefferies Group LLC upped their price objective on The Madison Square Garden from $185.00 to $200.00 and gave the company a “hold” rating in a research report on Friday, August 18th. Bank of America Corporation began coverage on The Madison Square Garden in a research report on Tuesday, May 2nd. They issued a “buy” rating and a $243.00 price objective on the stock. ValuEngine raised The Madison Square Garden from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research raised The Madison Square Garden from a “hold” rating to a “strong-buy” rating and set a $224.00 price objective on the stock in a research report on Saturday, July 15th. Finally, Citigroup Inc. lowered their price objective on The Madison Square Garden from $102.00 to $93.00 and set a “buy” rating on the stock in a research report on Monday, May 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $205.90.

The Madison Square Garden Company 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)

Receive News & Ratings for The Madison Square Garden Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Madison Square Garden Company and related companies with Analyst Ratings Network's FREE daily email newsletter.