New Age Alpha Advisors LLC Cuts Stock Holdings in The Madison Square Garden Company $MSGS

New Age Alpha Advisors LLC trimmed its position in shares of The Madison Square Garden Company (NYSE:MSGS) by 19.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 20,798 shares of the company’s stock after selling 4,987 shares during the period. New Age Alpha Advisors LLC’s holdings in Madison Square Garden were worth $5,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Global Retirement Partners LLC increased its holdings in shares of Madison Square Garden by 1,150.0% during the 4th quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares in the last quarter. Accredited Wealth Management LLC increased its holdings in shares of Madison Square Garden by 524.0% during the 3rd quarter. Accredited Wealth Management LLC now owns 156 shares of the company’s stock valued at $35,000 after purchasing an additional 131 shares in the last quarter. Salomon & Ludwin LLC increased its holdings in shares of Madison Square Garden by 33.1% during the 4th quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock valued at $40,000 after purchasing an additional 39 shares in the last quarter. Sound Income Strategies LLC purchased a new position in shares of Madison Square Garden during the 4th quarter valued at approximately $45,000. Finally, Allworth Financial LP increased its holdings in shares of Madison Square Garden by 26.5% during the 4th quarter. Allworth Financial LP now owns 196 shares of the company’s stock valued at $51,000 after purchasing an additional 41 shares in the last quarter. 68.94% of the stock is owned by hedge funds and other institutional investors.

Madison Square Garden Stock Down 0.0%

Shares of MSGS opened at $353.80 on Monday. The Madison Square Garden Company has a 52-week low of $186.00 and a 52-week high of $360.45. The firm’s fifty day moving average is $329.99 and its two-hundred day moving average is $287.47. The stock has a market cap of $8.52 billion, a PE ratio of -380.42 and a beta of 0.59.

Madison Square Garden (NYSE:MSGS) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of $0.56 by ($1.39). The firm had revenue of $432.20 million for the quarter, compared to analysts’ expectations of $429.66 million. The company’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.59) earnings per share. As a group, research analysts anticipate that The Madison Square Garden Company will post -0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Madison Square Garden from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Guggenheim lifted their price target on shares of Madison Square Garden from $401.00 to $422.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Weiss Ratings raised shares of Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, March 27th. Citigroup lifted their price target on shares of Madison Square Garden from $355.00 to $360.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Madison Square Garden from $240.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Madison Square Garden presently has an average rating of “Hold” and a consensus target price of $342.20.

Madison Square Garden Company 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.