The Madison Square Garden Company $MSGS Shares Purchased by Concentric Capital Strategies LP

Concentric Capital Strategies LP lifted its position in The Madison Square Garden Company (NYSE:MSGS) by 10.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 120,256 shares of the company’s stock after buying an additional 11,019 shares during the period. Madison Square Garden makes up 1.5% of Concentric Capital Strategies LP’s holdings, making the stock its 7th largest position. Concentric Capital Strategies LP owned about 0.50% of Madison Square Garden worth $31,104,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new position in Madison Square Garden during the fourth quarter worth about $26,000. Global Retirement Partners LLC lifted its holdings in Madison Square Garden by 1,150.0% in the 4th 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 last quarter. Accredited Wealth Management LLC boosted its position in shares of Madison Square Garden by 524.0% during the 3rd quarter. Accredited Wealth Management LLC now owns 156 shares of the company’s stock valued at $35,000 after purchasing an additional 131 shares in the last quarter. Salomon & Ludwin LLC boosted its position in shares of 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 purchasing an additional 39 shares in the last quarter. Finally, Sound Income Strategies LLC acquired a new position in shares of Madison Square Garden in the 4th quarter worth approximately $45,000. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Stock Down 4.0%

Shares of Madison Square Garden stock opened at $360.94 on Thursday. The Madison Square Garden Company has a 12 month low of $186.21 and a 12 month high of $397.00. The stock has a market cap of $8.69 billion, a PE ratio of -388.10 and a beta of 0.61. The business has a fifty day simple moving average of $351.94 and a 200-day simple moving average of $307.56.

Madison Square Garden (NYSE:MSGS) last posted 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 company had revenue of $432.20 million during the quarter, compared to analysts’ expectations of $429.66 million. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.59) earnings per share. Analysts expect that The Madison Square Garden Company will post -0.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Guggenheim lifted their price target on shares of 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 lifted their target price on Madison Square Garden from $430.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Wall Street Zen downgraded Madison Square Garden from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Susquehanna lifted their price target on Madison Square Garden from $404.00 to $429.00 and gave the stock a “positive” rating in a research note on Thursday, May 28th. Finally, Weiss Ratings raised shares of Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, March 27th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $356.80.

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.