The Madison Square Garden Company $MSGS Stock Holdings Increased by Clearline Capital LP

Clearline Capital LP increased its holdings in The Madison Square Garden Company (NYSE:MSGS) by 2.3% during the fourth quarter, Holdings Channel reports. The firm owned 123,880 shares of the company’s stock after purchasing an additional 2,764 shares during the period. Madison Square Garden makes up 1.6% of Clearline Capital LP’s portfolio, making the stock its 14th largest holding. Clearline Capital LP’s holdings in Madison Square Garden were worth $32,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Madison Square Garden in the 4th quarter worth approximately $26,000. Global Retirement Partners LLC raised its holdings in shares of Madison Square Garden by 1,150.0% during the fourth quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock valued at $32,000 after acquiring an additional 115 shares during the period. Accredited Wealth Management LLC raised its holdings in shares of Madison Square Garden by 524.0% during the third quarter. Accredited Wealth Management LLC now owns 156 shares of the company’s stock valued at $35,000 after acquiring an additional 131 shares during the period. Salomon & Ludwin LLC raised its holdings in shares of Madison Square Garden by 33.1% during the fourth quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock valued at $40,000 after acquiring an additional 39 shares during the period. Finally, Sound Income Strategies LLC acquired a new stake in shares of Madison Square Garden during the fourth quarter valued at approximately $45,000. 68.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MSGS. Guggenheim boosted their price target on shares of Madison Square Garden from $422.00 to $470.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Susquehanna boosted their price target on shares of Madison Square Garden from $404.00 to $429.00 and gave the company a “positive” rating in a report on Thursday, May 28th. Weiss Ratings upgraded shares of Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, March 27th. Seaport Research Partners boosted their price target on shares of Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Finally, Wall Street Zen lowered shares of Madison Square Garden from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Madison Square Garden has an average rating of “Hold” and a consensus price target of $356.80.

Madison Square Garden Stock Performance

Madison Square Garden stock opened at $360.94 on Thursday. The firm has a market cap of $8.69 billion, a PE ratio of -388.10 and a beta of 0.61. The firm’s 50 day moving average price is $351.94 and its two-hundred day moving average price is $307.56. The Madison Square Garden Company has a twelve month low of $186.21 and a twelve month high of $397.00.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $429.66 million. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.59) EPS. Equities analysts anticipate that The Madison Square Garden Company will post -0.5 EPS for the current fiscal year.

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.