Geode Capital Management LLC Acquires 3,705 Shares of The Madison Square Garden Company $MSGS

Geode Capital Management LLC grew its holdings in The Madison Square Garden Company (NYSE:MSGS) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 291,057 shares of the company’s stock after purchasing an additional 3,705 shares during the period. Geode Capital Management LLC’s holdings in Madison Square Garden were worth $75,301,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Steel Grove Capital Advisors LLC bought a new stake in shares of Madison Square Garden in the 4th quarter worth $231,000. Roundview Capital LLC bought a new stake in shares of Madison Square Garden in the 4th quarter worth $894,000. Systematic Financial Management LP increased its holdings in shares of Madison Square Garden by 3.6% in the 4th quarter. Systematic Financial Management LP now owns 156,489 shares of the company’s stock worth $40,476,000 after purchasing an additional 5,450 shares in the last quarter. Insight Inv LLC increased its holdings in shares of Madison Square Garden by 9.1% in the 4th quarter. Insight Inv LLC now owns 9,510 shares of the company’s stock worth $2,460,000 after purchasing an additional 795 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of Madison Square Garden by 1,150.0% in the 4th quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares in the last quarter. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Stock Performance

NYSE MSGS opened at $383.65 on Tuesday. The company has a market capitalization of $9.24 billion, a PE ratio of -412.52 and a beta of 0.61. The business’s fifty day moving average is $343.48 and its 200 day moving average is $299.67. The Madison Square Garden Company has a fifty-two week low of $186.00 and a fifty-two week high of $392.56.

Madison Square Garden (NYSE:MSGS) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of $0.56 by ($1.39). The firm had revenue of $432.20 million during the quarter, compared to analysts’ expectations of $429.66 million. During the same quarter in the prior year, the business earned ($0.59) earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, sell-side analysts forecast that The Madison Square Garden Company will post -0.5 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on the company. Susquehanna lifted their target price on Madison Square Garden from $404.00 to $429.00 and gave the stock a “positive” rating in a report on Thursday, May 28th. Citigroup raised their price target 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. Weiss Ratings upgraded Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, March 27th. Seaport Research Partners raised their price target on Madison Square Garden from $430.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Finally, Wall Street Zen downgraded Madison Square Garden from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $356.80.

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.