214,891 Shares in The Madison Square Garden Company $MSGS Purchased by Reinhart Partners LLC.

Reinhart Partners LLC. acquired a new position in The Madison Square Garden Company (NYSE:MSGS) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 214,891 shares of the company’s stock, valued at approximately $55,586,000. Madison Square Garden comprises approximately 1.7% of Reinhart Partners LLC.’s investment portfolio, making the stock its 29th largest holding.

Several other hedge funds have also recently bought and sold shares of the business. Norges Bank purchased a new stake in Madison Square Garden in the 4th quarter worth about $51,107,000. Inspire Trust Co. N.A. lifted its stake in Madison Square Garden by 10.0% in the 4th quarter. Inspire Trust Co. N.A. now owns 11,000 shares of the company’s stock worth $2,845,000 after acquiring an additional 1,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in Madison Square Garden by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 291,057 shares of the company’s stock worth $75,301,000 after acquiring an additional 3,705 shares in the last quarter. Steel Grove Capital Advisors LLC purchased a new stake in Madison Square Garden in the 4th quarter worth about $231,000. Finally, Roundview Capital LLC purchased a new stake in Madison Square Garden in the 4th quarter worth about $894,000. 68.94% of the stock is owned by hedge funds and other institutional investors.

Madison Square Garden Price Performance

Shares of MSGS stock opened at $382.24 on Wednesday. The Madison Square Garden Company has a fifty-two week low of $186.00 and a fifty-two week high of $384.70. The stock’s 50-day moving average is $336.36 and its two-hundred day moving average is $293.77. The firm has a market cap of $9.20 billion, a P/E ratio of -411.01 and a beta of 0.61.

Madison Square Garden (NYSE:MSGS) last issued its 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 business had revenue of $432.20 million during the quarter, compared to the consensus estimate of $429.66 million. During the same quarter in the prior year, the firm posted ($0.59) earnings per share. Madison Square Garden’s revenue was up 1.9% on a year-over-year basis. As a group, research analysts expect that The Madison Square Garden Company will post -0.5 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MSGS shares. Susquehanna increased their price objective on Madison Square Garden from $404.00 to $429.00 and gave the stock a “positive” rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. increased their price objective on Madison Square Garden from $240.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Wall Street Zen downgraded Madison Square Garden from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Citigroup increased their price objective on Madison Square Garden from $355.00 to $360.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Finally, Seaport Research Partners upped their target price on Madison Square Garden from $430.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Madison Square Garden has a consensus rating of “Hold” and an average price target of $356.80.

About Madison Square Garden

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.