Corient Private Wealth LLC Boosts Stock Holdings in The Madison Square Garden Company $MSGS

Corient Private Wealth LLC raised its stake in The Madison Square Garden Company (NYSE:MSGS) by 255.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,565 shares of the company’s stock after acquiring an additional 2,561 shares during the period. Corient Private Wealth LLC’s holdings in Madison Square Garden were worth $922,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Aster Capital Management DIFC Ltd purchased a new position in shares of Madison Square Garden during the fourth quarter valued at about $26,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Madison Square Garden by 67.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 122 shares of the company’s stock worth $32,000 after buying an additional 49 shares in the last quarter. Global Retirement Partners LLC boosted its stake in 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 buying an additional 115 shares during the last quarter. Salomon & Ludwin LLC grew its holdings in Madison Square Garden by 33.1% during the 4th quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock valued at $40,000 after buying an additional 39 shares in the last quarter. Finally, Sound Income Strategies LLC purchased a new position in Madison Square Garden during the 4th quarter valued at approximately $45,000. Institutional investors own 68.94% of the company’s stock.

Analysts Set New Price Targets

MSGS has been the topic of several recent research reports. Susquehanna upped their price objective on Madison Square Garden from $429.00 to $430.00 and gave the stock a “positive” rating in a report on Tuesday, June 23rd. Guggenheim lifted their price target on Madison Square Garden from $422.00 to $470.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Seaport Research Partners upped their price objective on Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Citigroup lifted 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, Wall Street Zen downgraded Madison Square Garden from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. 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, the stock has an average rating of “Hold” and an average target price of $357.00.

Madison Square Garden Price Performance

Shares of NYSE MSGS opened at $395.98 on Friday. The Madison Square Garden Company has a 1 year low of $188.60 and a 1 year high of $411.73. The firm has a 50-day simple moving average of $363.38 and a two-hundred day simple moving average of $319.64. The company has a market cap of $9.53 billion, a P/E ratio of -425.78 and a beta of 0.61.

Madison Square Garden (NYSE:MSGS) last issued its quarterly earnings results 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 firm had revenue of $432.20 million during the quarter, compared to analysts’ expectations of $429.66 million. During the same quarter last year, the firm posted ($0.59) EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities research analysts expect that The Madison Square Garden Company will post -0.5 EPS for the current year.

Madison Square Garden 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.