Gabelli Funds LLC reduced its stake in shares of The Madison Square Garden Company (NYSE:MSG) by 0.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 536,666 shares of the company’s stock after selling 300 shares during the period. The Madison Square Garden accounts for about 0.7% of Gabelli Funds LLC’s portfolio, making the stock its 18th largest holding. Gabelli Funds LLC owned approximately 2.82% of The Madison Square Garden worth $114,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of The Madison Square Garden by 8.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 712 shares of the company’s stock worth $140,000 after purchasing an additional 58 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of The Madison Square Garden by 5.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 751 shares of the company’s stock worth $148,000 after purchasing an additional 40 shares during the last quarter. Maverick Capital Ltd. acquired a new position in shares of The Madison Square Garden during the 2nd quarter worth approximately $176,000. South State Corp acquired a new position in shares of The Madison Square Garden during the 2nd quarter worth approximately $203,000. Finally, Investment House LLC acquired a new position in shares of The Madison Square Garden during the 3rd quarter worth approximately $203,000. Institutional investors and hedge funds own 70.96% of the company’s stock.

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The Madison Square Garden Company (MSG) traded down $0.81 during mid-day trading on Monday, hitting $228.09. 76,601 shares of the stock traded hands, compared to its average volume of 234,439. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.90 and a current ratio of 1.90. The Madison Square Garden Company has a 1 year low of $161.93 and a 1 year high of $231.44.

The Madison Square Garden (NYSE:MSG) last released its quarterly earnings results on Friday, November 3rd. The company reported ($0.47) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.65) by $0.18. The company had revenue of $245.04 million for the quarter, compared to analysts’ expectations of $237.06 million. The Madison Square Garden had a negative return on equity of 1.73% and a negative net margin of 4.00%. The business’s quarterly revenue was up 34.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.19) earnings per share. analysts forecast that The Madison Square Garden Company will post 0.65 earnings per share for the current year.

Several research analysts have recently weighed in on MSG shares. Zacks Investment Research upgraded The Madison Square Garden from a “hold” rating to a “strong-buy” rating and set a $224.00 target price on the stock in a report on Saturday, July 15th. BTIG Research reaffirmed a “buy” rating and set a $260.00 price target (up previously from $240.00) on shares of The Madison Square Garden in a research report on Tuesday, July 25th. Morgan Stanley reaffirmed an “overweight” rating and set a $245.00 price target (up previously from $215.00) on shares of The Madison Square Garden in a research report on Tuesday, July 25th. Finally, Jefferies Group LLC lifted their price target on shares of 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. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The Madison Square Garden has a consensus rating of “Hold” and an average target price of $211.50.

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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