Hsbc Holdings PLC Acquires Shares of 21,421 The Madison Square Garden Company $MSGS

Hsbc Holdings PLC bought a new position in The Madison Square Garden Company (NYSE:MSGS) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 21,421 shares of the company’s stock, valued at approximately $5,596,000.

Several other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised 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 purchasing an additional 282,318 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of Madison Square Garden by 8.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 648,515 shares of the company’s stock worth $167,739,000 after buying an additional 49,412 shares during the period. Gamco Investors INC. ET AL increased its stake in shares of Madison Square Garden by 1.1% in the 4th quarter. Gamco Investors INC. ET AL now owns 613,391 shares of the company’s stock worth $158,654,000 after acquiring an additional 6,873 shares in the last quarter. State Street Corp lifted its position in Madison Square Garden by 3.0% during the 4th quarter. State Street Corp now owns 538,404 shares of the company’s stock valued at $139,258,000 after acquiring an additional 15,656 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Madison Square Garden by 0.4% during the third quarter. Victory Capital Management Inc. now owns 455,042 shares of the company’s stock worth $103,295,000 after acquiring an additional 1,688 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors.

Madison Square Garden Stock Up 3.7%

NYSE:MSGS opened at $392.73 on Friday. The stock has a market cap of $9.46 billion, a price-to-earnings ratio of -422.28 and a beta of 0.61. The company’s 50 day moving average price is $358.13 and its 200-day moving average price is $314.27. The Madison Square Garden Company has a 52 week low of $188.60 and a 52 week 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 for the quarter, missing analysts’ consensus estimates of $0.56 by ($1.39). The company had revenue of $432.20 million for the quarter, compared to the consensus estimate of $429.66 million. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.59) EPS. As a group, sell-side analysts anticipate that The Madison Square Garden Company will post -0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MSGS shares. Seaport Research Partners raised their target price on shares of Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Susquehanna boosted their price target on Madison Square Garden from $429.00 to $430.00 and gave the stock a “positive” rating in a research report on Tuesday, June 23rd. Wall Street Zen lowered Madison Square Garden from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Citigroup boosted their target price on Madison Square Garden from $355.00 to $360.00 and gave the stock a “neutral” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Madison Square Garden in a research note on Wednesday. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $357.00.

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.