TD Asset Management Inc Acquires Shares of 9,040 The Madison Square Garden Company $MSGS

TD Asset Management Inc bought a new stake in shares of The Madison Square Garden Company (NYSE:MSGS) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 9,040 shares of the company’s stock, valued at approximately $2,052,000.

Several other institutional investors have also recently made changes to their positions in MSGS. Independent Advisor Alliance lifted its position in Madison Square Garden by 2.7% during the third quarter. Independent Advisor Alliance now owns 1,765 shares of the company’s stock valued at $401,000 after buying an additional 46 shares during the period. Cibc World Market Inc. lifted its position in Madison Square Garden by 2.8% during the 3rd quarter. Cibc World Market Inc. now owns 1,881 shares of the company’s stock valued at $427,000 after acquiring an additional 51 shares during the period. Pinnacle Wealth Management Advisory Group LLC lifted its position in Madison Square Garden by 1.7% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,663 shares of the company’s stock valued at $765,000 after acquiring an additional 60 shares during the period. Smartleaf Asset Management LLC grew its holdings in Madison Square Garden by 19.2% in the third quarter. Smartleaf Asset Management LLC now owns 373 shares of the company’s stock worth $86,000 after purchasing an additional 60 shares during the period. Finally, Arizona State Retirement System lifted its holdings in shares of Madison Square Garden by 1.4% during the third quarter. Arizona State Retirement System now owns 4,613 shares of the company’s stock valued at $1,047,000 after purchasing an additional 64 shares during the last quarter. Institutional investors own 68.94% of the company’s stock.

Insider Activity at Madison Square Garden

In related news, Director Charles P. Dolan sold 5,659 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $325.26, for a total transaction of $1,840,646.34. Following the completion of the sale, the director owned 435 shares in the company, valued at approximately $141,488.10. This represents a 92.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.07% of the stock is owned by insiders.

Madison Square Garden Stock Down 0.2%

MSGS opened at $321.16 on Thursday. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of -465.45 and a beta of 0.56. The firm has a 50 day moving average price of $286.82 and a 200-day moving average price of $242.83. The Madison Square Garden Company has a twelve month low of $173.26 and a twelve month high of $345.46.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Citigroup upped their price target on Madison Square Garden from $290.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Guggenheim restated a “buy” rating on shares of Madison Square Garden in a report on Thursday, February 5th. Wall Street Zen raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 14th. Wolfe Research downgraded shares of Madison Square Garden from an “outperform” rating to a “hold” rating in a research report on Monday, December 15th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Madison Square Garden in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $286.00.

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.