The Madison Square Garden Company $MSGS Shares Sold by CastleKnight Management LP

CastleKnight Management LP trimmed its holdings in The Madison Square Garden Company (NYSE:MSGS) by 58.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,200 shares of the company’s stock after selling 157,100 shares during the quarter. Madison Square Garden accounts for about 0.6% of CastleKnight Management LP’s portfolio, making the stock its 17th biggest holding. CastleKnight Management LP owned 0.46% of Madison Square Garden worth $28,503,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MSGS. Price T Rowe Associates Inc. MD increased its holdings in Madison Square Garden by 67.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 699,378 shares of the company’s stock worth $180,895,000 after buying an additional 282,318 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in Madison Square Garden by 1.1% in the fourth quarter. Gamco Investors INC. ET AL now owns 613,391 shares of the company’s stock worth $158,654,000 after buying an additional 6,873 shares during the last quarter. State Street Corp increased its holdings in Madison Square Garden by 3.0% in the fourth quarter. State Street Corp now owns 538,404 shares of the company’s stock worth $139,258,000 after buying an additional 15,656 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Madison Square Garden by 0.4% in the third quarter. Victory Capital Management Inc. now owns 455,042 shares of the company’s stock worth $103,295,000 after buying an additional 1,688 shares during the last quarter. Finally, Gabelli Funds LLC increased its holdings in Madison Square Garden by 0.9% in the fourth quarter. Gabelli Funds LLC now owns 394,292 shares of the company’s stock worth $101,984,000 after buying an additional 3,607 shares during the last quarter. 68.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MSGS has been the topic of a number of research reports. Citigroup increased their price objective on Madison Square Garden from $355.00 to $360.00 and gave the stock a “neutral” rating in a report on Wednesday, May 13th. Wall Street Zen downgraded Madison Square Garden from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings upgraded Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, March 27th. Seaport Research Partners increased their price objective on Madison Square Garden from $430.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, Susquehanna increased their price objective on Madison Square Garden from $404.00 to $429.00 and gave the stock a “positive” rating in a report on Thursday, May 28th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Madison Square Garden currently has an average rating of “Hold” and a consensus price target of $356.80.

Madison Square Garden Trading Down 4.0%

Shares of Madison Square Garden stock opened at $360.94 on Thursday. The company’s fifty day simple moving average is $351.94 and its 200-day simple moving average is $307.56. The company has a market cap of $8.69 billion, a price-to-earnings ratio of -388.10 and a beta of 0.61. The Madison Square Garden Company has a 1 year low of $186.21 and a 1 year high of $397.00.

Madison Square Garden (NYSE:MSGS) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($1.39). The firm had revenue of $432.20 million for the quarter, compared to analyst estimates of $429.66 million. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.59) EPS. As a group, research analysts forecast that The Madison Square Garden Company will post -0.5 earnings per share for the current fiscal year.

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.