The Manufacturers Life Insurance Company Sells 39,673 Shares of The Madison Square Garden Company $MSGS

The Manufacturers Life Insurance Company decreased its position in The Madison Square Garden Company (NYSE:MSGS) by 25.1% in the first quarter, Holdings Channel reports. The firm owned 118,157 shares of the company’s stock after selling 39,673 shares during the period. The Manufacturers Life Insurance Company’s holdings in Madison Square Garden were worth $37,976,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Madison Square Garden during the fourth quarter valued at $26,000. Global Retirement Partners LLC grew its holdings in Madison Square Garden by 1,150.0% during the 4th quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock worth $32,000 after acquiring an additional 115 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Madison Square Garden by 67.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 122 shares of the company’s stock worth $32,000 after acquiring an additional 49 shares in the last quarter. SJS Investment Consulting Inc. increased its position in Madison Square Garden by 488.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 100 shares of the company’s stock valued at $32,000 after purchasing an additional 83 shares during the period. Finally, Salomon & Ludwin LLC raised its holdings in shares of Madison Square Garden by 33.1% in 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. 68.94% of the stock is owned by institutional investors.

Madison Square Garden Stock Performance

MSGS stock opened at $405.62 on Friday. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of -436.15 and a beta of 0.61. The firm has a 50-day simple moving average of $384.33 and a two-hundred day simple moving average of $339.26. The Madison Square Garden Company has a one year low of $188.60 and a one year 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 analysts’ consensus estimates 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. During the same quarter in the prior year, the company earned ($0.59) EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, equities analysts predict that The Madison Square Garden Company will post -0.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MSGS shares. Susquehanna upped their price target on shares of Madison Square Garden from $429.00 to $430.00 and gave the stock a “positive” rating in a research report on Tuesday, June 23rd. Guggenheim boosted their price objective on shares of Madison Square Garden from $470.00 to $522.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Seaport Research Partners upped 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. Citigroup increased their target price on Madison Square Garden from $355.00 to $360.00 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Madison Square Garden in a research report on Wednesday, June 24th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Madison Square Garden currently has an average rating of “Hold” and an average price target of $442.40.

About Madison Square Garden

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.