The Madison Square Garden Company (NYSE:MSGS) Holdings Reduced by Merrion Investment Management Co LLC

Merrion Investment Management Co LLC lessened its holdings in shares of The Madison Square Garden Company (NYSE:MSGS) by 6.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,255 shares of the company’s stock after selling 80 shares during the period. Merrion Investment Management Co LLC’s holdings in Madison Square Garden were worth $244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Allworth Financial LP grew its position in Madison Square Garden by 81.4% in the 4th quarter. Allworth Financial LP now owns 127 shares of the company’s stock valued at $28,000 after buying an additional 57 shares in the last quarter. Putney Financial Group LLC acquired a new stake in shares of Madison Square Garden in the 4th quarter worth approximately $28,000. Heck Capital Advisors LLC acquired a new stake in shares of Madison Square Garden in the 4th quarter worth approximately $43,000. Headlands Technologies LLC boosted its holdings in shares of Madison Square Garden by 1,016.7% in the fourth quarter. Headlands Technologies LLC now owns 268 shares of the company’s stock valued at $60,000 after acquiring an additional 244 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of Madison Square Garden by 423.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 272 shares of the company’s stock valued at $62,000 after acquiring an additional 220 shares during the period. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MSGS shares. Guggenheim restated a “buy” rating and issued a $314.00 target price on shares of Madison Square Garden in a research report on Tuesday, May 6th. Susquehanna assumed coverage on Madison Square Garden in a research note on Monday, April 28th. They issued a “positive” rating and a $254.00 price objective on the stock. Morgan Stanley cut their price objective on Madison Square Garden from $235.00 to $215.00 and set an “equal weight” rating for the company in a report on Monday, May 5th. Macquarie lifted their target price on Madison Square Garden from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Madison Square Garden from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $252.60.

Madison Square Garden Stock Performance

NYSE MSGS opened at $190.95 on Thursday. The Madison Square Garden Company has a twelve month low of $173.26 and a twelve month high of $237.99. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 909.33 and a beta of 0.77. The firm’s 50 day moving average price is $191.23 and its two-hundred day moving average price is $203.51.

Madison Square Garden (NYSE:MSGS) last issued its quarterly earnings results on Friday, May 2nd. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($2.07). The business had revenue of $424.20 million for the quarter, compared to analysts’ expectations of $436.84 million. Madison Square Garden had a net margin of 0.45% and a negative return on equity of 1.76%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.57 EPS. On average, research analysts forecast 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. 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.