The Madison Square Garden Company $MSGS Shares Bought by Pullen Investment Management LLC

Pullen Investment Management LLC raised its position in The Madison Square Garden Company (NYSE:MSGS) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,837 shares of the company’s stock after purchasing an additional 93 shares during the quarter. Madison Square Garden comprises 1.4% of Pullen Investment Management LLC’s investment portfolio, making the stock its 16th biggest position. Pullen Investment Management LLC’s holdings in Madison Square Garden were worth $2,264,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp boosted its holdings in Madison Square Garden by 59.5% in the 2nd quarter. Fifth Third Bancorp now owns 185 shares of the company’s stock valued at $39,000 after purchasing an additional 69 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in Madison Square Garden by 2.8% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 2,873 shares of the company’s stock valued at $559,000 after purchasing an additional 79 shares during the last quarter. Covestor Ltd boosted its holdings in Madison Square Garden by 35.5% in the 1st quarter. Covestor Ltd now owns 416 shares of the company’s stock valued at $81,000 after purchasing an additional 109 shares during the last quarter. Truist Financial Corp boosted its holdings in Madison Square Garden by 6.3% in the 2nd quarter. Truist Financial Corp now owns 2,286 shares of the company’s stock valued at $478,000 after purchasing an additional 135 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Madison Square Garden by 4.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,152 shares of the company’s stock valued at $808,000 after purchasing an additional 169 shares during the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MSGS shares. Morgan Stanley upped their price objective on shares of Madison Square Garden from $215.00 to $220.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 13th. BTIG Research initiated coverage on shares of Madison Square Garden in a research note on Tuesday, October 7th. They set a “neutral” rating on the stock. Citigroup initiated coverage on shares of Madison Square Garden in a research note on Tuesday, September 9th. They set a “buy” rating and a $285.00 target price on the stock. Zacks Research raised shares of Madison Square Garden from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Weiss Ratings raised shares of Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $258.83.

Madison Square Garden Price Performance

NYSE MSGS opened at $228.28 on Friday. The firm’s fifty day moving average price is $212.93 and its 200 day moving average price is $202.35. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of -248.13 and a beta of 0.78. The Madison Square Garden Company has a 12 month low of $173.26 and a 12 month high of $237.99.

Madison Square Garden (NYSE:MSGS) last posted its earnings results on Tuesday, August 12th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.35. The firm had revenue of $203.96 million for the quarter, compared to the consensus estimate of $151.00 million. Madison Square Garden had a negative net margin of 2.16% and a negative return on equity of 1.76%. The company’s revenue was down 10.3% on a year-over-year basis. During the same period last year, the firm posted $1.06 EPS. As a group, sell-side analysts forecast that The Madison Square Garden Company will post 0.73 earnings per share for the current year.

Madison Square Garden Company Profile

Madison Square Garden Sports Corp. operates as a professional sports company in the United States. The company owns and operates a portfolio of assets that consists of the New York Knickerbockers of the National Basketball Association (NBA) and the New York Rangers of the National Hockey League. Its other professional franchises include development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.