CIBC Asset Management Inc decreased its stake in The Madison Square Garden Company (NYSE:MSG) by 30.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,389 shares of the company’s stock after selling 1,033 shares during the period. CIBC Asset Management Inc’s holdings in The Madison Square Garden were worth $511,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of The Madison Square Garden by 8.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 712 shares of the company’s stock worth $140,000 after acquiring an additional 58 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of The Madison Square Garden by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 751 shares of the company’s stock worth $148,000 after acquiring an additional 40 shares during the last quarter. Maverick Capital Ltd. acquired a new stake in shares of The Madison Square Garden in the second quarter worth $176,000. Investment House LLC acquired a new stake in shares of The Madison Square Garden in the third quarter worth $203,000. Finally, CAPROCK Group Inc. acquired a new stake in shares of The Madison Square Garden in the third quarter worth $221,000. Institutional investors and hedge funds own 68.49% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2017/11/20/the-madison-square-garden-company-msg-shares-sold-by-cibc-asset-management-inc.html.

The Madison Square Garden Company (NYSE:MSG) opened at $218.46 on Monday. The Madison Square Garden Company has a 12-month low of $166.86 and a 12-month high of $231.44. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.04.

The Madison Square Garden (NYSE:MSG) last issued its quarterly earnings data on Friday, November 3rd. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.65) by $0.18. The company had revenue of $245.04 million during the quarter, compared to analysts’ expectations of $237.06 million. The Madison Square Garden had a negative return on equity of 1.75% and a negative net margin of 4.00%. The business’s revenue was up 34.9% on a year-over-year basis. During the same period last year, the business earned ($1.19) earnings per share. research analysts predict that The Madison Square Garden Company will post 0.66 EPS for the current fiscal year.

MSG has been the topic of several research analyst reports. Jefferies Group LLC restated a “hold” rating and issued a $200.00 price objective on shares of The Madison Square Garden in a research note on Tuesday, October 24th. Zacks Investment Research downgraded shares of The Madison Square Garden from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Morgan Stanley reaffirmed an “overweight” rating and issued a $245.00 target price (up from $215.00) on shares of The Madison Square Garden in a research report on Tuesday, July 25th. Loop Capital raised their target price on The Madison Square Garden from $266.00 to $268.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $260.00 target price (up from $240.00) on shares of The Madison Square Garden in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $217.78.

About The Madison Square Garden

The Madison Square Garden Company is a holding company, which is engaged in live experiences consisting of celebrated venues, sports teams, and entertainment productions. The Company operates in two segments, which include MSG Entertainment and MSG Sports. The MSG Sports segment includes the Company’s professional sports franchises, which include the New York Knicks (the Knicks) of the National Basketball Association (the NBA), the New York Rangers (the Rangers) of the National Hockey League (the NHL), the New York Liberty (the Liberty) of the Women’s National Basketball Association (the WNBA), the Hartford Wolf Pack of the American Hockey League (the AHL), which is the primary player development team for the Rangers, and the Westchester Knicks, an NBA Development League team.

Want to see what other hedge funds are holding MSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Madison Square Garden Company (NYSE:MSG).

Institutional Ownership by Quarter for The Madison Square Garden (NYSE:MSG)

Receive News & Stock Ratings for The Madison Square Garden Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Madison Square Garden Company and related stocks with our FREE daily email newsletter.