The Madison Square Garden Company $MSGS Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP cut its stake in The Madison Square Garden Company (NYSE:MSGS) by 52.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,976 shares of the company’s stock after selling 3,226 shares during the quarter. Quantbot Technologies LP’s holdings in Madison Square Garden were worth $676,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Accredited Wealth Management LLC boosted its position in shares of Madison Square Garden by 524.0% in the third quarter. Accredited Wealth Management LLC now owns 156 shares of the company’s stock worth $35,000 after buying an additional 131 shares during the period. US Bancorp DE raised its holdings in shares of Madison Square Garden by 45.2% during the 3rd quarter. US Bancorp DE now owns 1,488 shares of the company’s stock valued at $338,000 after buying an additional 463 shares during the period. TD Asset Management Inc acquired a new position in Madison Square Garden during the 3rd quarter worth approximately $2,052,000. Inspire Trust Co. N.A. lifted its position in Madison Square Garden by 11.1% during the 3rd quarter. Inspire Trust Co. N.A. now owns 10,000 shares of the company’s stock worth $2,270,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in Madison Square Garden by 294.7% in the 3rd quarter. Citigroup Inc. now owns 39,718 shares of the company’s stock worth $9,016,000 after acquiring an additional 29,656 shares during the period. Institutional investors and hedge funds own 68.94% of the company’s stock.

Madison Square Garden Stock Down 1.5%

Shares of MSGS opened at $313.76 on Friday. The business’s 50 day moving average is $289.08 and its two-hundred day moving average is $244.50. The Madison Square Garden Company has a 52-week low of $173.26 and a 52-week high of $345.46. The firm has a market cap of $7.55 billion, a price-to-earnings ratio of -454.72 and a beta of 0.56.

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 analysts’ consensus estimates of $0.66 by ($0.32). The firm had revenue of $403.42 million for the quarter, compared to analyst estimates of $394.58 million. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 earnings per share. On average, equities analysts expect that The Madison Square Garden Company will post 0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Madison Square Garden news, Director Charles P. Dolan sold 5,659 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $325.26, for a total transaction of $1,840,646.34. Following the completion of the transaction, the director directly owned 435 shares of the company’s stock, valued at $141,488.10. This trade represents a 92.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 19.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MSGS shares. Citigroup lifted their price objective on shares of Madison Square Garden from $290.00 to $337.00 and gave the company a “buy” rating in a research note on Friday, February 13th. JPMorgan Chase & Co. upped their target price 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. Guggenheim reaffirmed a “buy” rating on shares of Madison Square Garden in a report on Thursday, February 5th. Wolfe Research downgraded shares of Madison Square Garden from an “outperform” rating to a “hold” rating in a research note on Monday, December 15th. Finally, Wall Street Zen upgraded shares of Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Saturday, February 14th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $286.00.

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.