Rhumbline Advisers Grows Stock Holdings in The Madison Square Garden Company $MSGS

Rhumbline Advisers increased its position in The Madison Square Garden Company (NYSE:MSGS) by 7.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 41,500 shares of the company’s stock after buying an additional 3,043 shares during the period. Rhumbline Advisers owned about 0.17% of Madison Square Garden worth $9,420,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in MSGS. Krilogy Financial LLC purchased a new stake in shares of Madison Square Garden during the third quarter worth about $354,000. Smartleaf Asset Management LLC grew its holdings in Madison Square Garden by 19.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 373 shares of the company’s stock valued at $86,000 after buying an additional 60 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Madison Square Garden by 30.6% during the third quarter. Envestnet Asset Management Inc. now owns 15,776 shares of the company’s stock valued at $3,581,000 after buying an additional 3,700 shares during the last quarter. Hantz Financial Services Inc. purchased a new position in shares of Madison Square Garden in the third quarter worth $80,000. Finally, Westside Investment Management Inc. boosted its position in shares of Madison Square Garden by 8.3% during the third quarter. Westside Investment Management Inc. now owns 849 shares of the company’s stock worth $193,000 after acquiring an additional 65 shares during the last quarter. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MSGS has been the topic of a number of research reports. Wolfe Research downgraded shares of Madison Square Garden from an “outperform” rating to a “hold” rating in a report on Monday, December 15th. Citigroup lifted their target price on Madison Square Garden from $290.00 to $337.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Guggenheim reissued a “buy” rating on shares of Madison Square Garden in a research note on Thursday, February 5th. Wall Street Zen raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Madison Square Garden in a research report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $280.00.

Madison Square Garden Price Performance

Shares of MSGS stock opened at $325.32 on Friday. The company has a market cap of $7.83 billion, a PE ratio of -471.48 and a beta of 0.61. The stock’s 50 day simple moving average is $274.83 and its two-hundred day simple moving average is $235.76. The Madison Square Garden Company has a 1 year low of $173.26 and a 1 year high of $345.46.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.32). The company had revenue of $403.42 million during the quarter, compared to the consensus estimate of $394.58 million. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 EPS. Equities research analysts expect that The Madison Square Garden Company will post 0.73 EPS for the current year.

Madison Square Garden Profile

Madison Square Garden Sports Corp (NYSE: MSGS) is a leading sports and entertainment holding company focused on professional sports franchises and related media assets. The company owns and operates teams such as the NBA’s New York Knicks, the NHL’s New York Rangers and the WNBA’s New York Liberty. Through these flagship franchises, MSG Sports offers a range of products and services including ticketing, premium seating and sponsorship opportunities, targeting fans in the New York metropolitan area and beyond.

In addition to team operations, Madison Square Garden Sports Corp holds a majority stake in MSG Networks, a regional cable network that broadcasts live sporting events, news and original programming.