The Madison Square Garden Company $MSGS Holdings Decreased by Reinhart Partners LLC.

Reinhart Partners LLC. decreased its stake in shares of The Madison Square Garden Company (NYSE:MSGS) by 13.8% in the 3rd quarter, Holdings Channel reports. The fund owned 192,388 shares of the company’s stock after selling 30,785 shares during the quarter. Madison Square Garden accounts for approximately 1.9% of Reinhart Partners LLC.’s investment portfolio, making the stock its 23rd biggest position. Reinhart Partners LLC.’s holdings in Madison Square Garden were worth $77,958,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted its stake in Madison Square Garden by 67.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 122 shares of the company’s stock worth $32,000 after purchasing an additional 49 shares during the period. SJS Investment Consulting Inc. increased its holdings in Madison Square Garden by 488.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 100 shares of the company’s stock worth $32,000 after purchasing an additional 83 shares in the last quarter. GHP Investment Advisors Inc. acquired a new stake in shares of Madison Square Garden in the 1st quarter valued at about $51,000. EverSource Wealth Advisors LLC raised its stake in shares of Madison Square Garden by 35.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 162 shares of the company’s stock valued at $52,000 after purchasing an additional 42 shares during the period. Finally, NFSG Corp lifted its holdings in shares of Madison Square Garden by 12,800.0% in the first quarter. NFSG Corp now owns 516 shares of the company’s stock valued at $166,000 after purchasing an additional 512 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MSGS has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price objective on Madison Square Garden from $450.00 to $485.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Guggenheim boosted their target price on Madison Square Garden from $522.00 to $584.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Wall Street Zen raised Madison Square Garden from a “sell” rating to a “hold” rating in a research report on Sunday, August 23rd. Susquehanna raised their price target on shares of Madison Square Garden from $430.00 to $477.00 and gave the stock a “positive” rating in a research note on Friday, August 14th. Finally, Zacks Research upgraded shares of Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $471.20.

Madison Square Garden Trading Down 1.0%

NYSE MSGS opened at $403.26 on Friday. The company has a market cap of $9.71 billion, a PE ratio of 1,344.23 and a beta of 0.62. The Madison Square Garden Company has a 12 month low of $207.90 and a 12 month high of $438.93. The stock has a 50 day moving average of $398.32 and a 200-day moving average of $373.97.

Madison Square Garden (NYSE:MSGS) last issued its earnings results on Thursday, August 13th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.52. Madison Square Garden had a net margin of 0.67% and a negative return on equity of 3.47%. The business had revenue of $278.75 million for the quarter, compared to the consensus estimate of $227.67 million. During the same period in the previous year, the company earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 36.6% on a year-over-year basis. As a group, sell-side analysts predict that The Madison Square Garden Company will post -1.13 EPS for the current fiscal year.

Madison Square Garden Company Profile

Madison Square Garden Sports Corp. (NYSE:MSGS) is a professional sports and entertainment company based in New York. Its principal assets are the New York Knicks of the National Basketball Association and the New York Rangers of the National Hockey League.

The company also owns and operates related sports properties, including the NBA G League’s Westchester Knicks, the American Hockey League’s Hartford Wolf Pack and the NBA 2K League’s Knicks Gaming. Its business activities include team operations, ticket sales, sponsorships, licensing, merchandise and other commercial rights associated with its sports franchises.

Madison Square Garden Sports primarily serves fans and commercial partners in the New York metropolitan area while its teams compete in national leagues with audiences throughout the United States and internationally.