Janney Montgomery Scott LLC Boosts Holdings in The Madison Square Garden Company $MSGS

Janney Montgomery Scott LLC increased its position in The Madison Square Garden Company (NYSE:MSGS) by 53.0% during the first quarter, HoldingsChannel.com reports. The firm owned 13,588 shares of the company’s stock after acquiring an additional 4,708 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Madison Square Garden were worth $4,367,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of 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 buying an additional 282,318 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Madison Square Garden by 8.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 648,515 shares of the company’s stock valued at $167,739,000 after buying an additional 49,412 shares during the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of Madison Square Garden by 1.1% during the fourth quarter. Gamco Investors INC. ET AL now owns 613,391 shares of the company’s stock valued at $158,654,000 after buying an additional 6,873 shares during the last quarter. State Street Corp increased its position in shares of Madison Square Garden by 3.0% during the fourth 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 in the last quarter. Finally, Gabelli Funds LLC raised its holdings in Madison Square Garden by 0.9% in the 4th quarter. Gabelli Funds LLC now owns 394,292 shares of the company’s stock worth $101,984,000 after acquiring an additional 3,607 shares during the last quarter. 68.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on MSGS. Guggenheim increased their target price on Madison Square Garden from $422.00 to $470.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Citigroup boosted 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. Wall Street Zen downgraded Madison Square Garden from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Susquehanna increased their price objective on Madison Square Garden from $429.00 to $430.00 and gave the company a “positive” rating in a research report on Tuesday, June 23rd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Madison Square Garden in a report on Wednesday, June 24th. 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 $357.00.

Madison Square Garden Trading Up 0.2%

NYSE:MSGS opened at $395.98 on Monday. The company has a market cap of $9.54 billion, a PE ratio of -425.78 and a beta of 0.61. The company has a 50 day simple moving average of $364.60 and a two-hundred day simple moving average of $320.76. The Madison Square Garden Company has a 12 month low of $188.60 and a 12 month high of $411.73.

Madison Square Garden (NYSE:MSGS) last released 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. Madison Square Garden’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.59) earnings per share. Research analysts forecast that The Madison Square Garden Company will post -0.5 earnings per share 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.