Becker Capital Management Inc. lowered its holdings in shares of Madison Square Garden Co (NYSE:MSG) by 2.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,385 shares of the company’s stock after selling 2,370 shares during the quarter. Becker Capital Management Inc. owned about 0.36% of Madison Square Garden worth $24,736,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Samlyn Capital LLC bought a new position in Madison Square Garden in the 4th quarter worth $73,639,000. Norges Bank bought a new position in Madison Square Garden in the 4th quarter worth $60,308,000. Gluskin Sheff & Assoc Inc. raised its holdings in Madison Square Garden by 84.4% in the 4th quarter. Gluskin Sheff & Assoc Inc. now owns 225,531 shares of the company’s stock worth $60,375,000 after acquiring an additional 103,244 shares during the period. Westfield Capital Management Co. LP raised its holdings in Madison Square Garden by 36.0% in the 4th quarter. Westfield Capital Management Co. LP now owns 327,899 shares of the company’s stock worth $87,779,000 after acquiring an additional 86,764 shares during the period. Finally, Vanguard Group Inc raised its holdings in Madison Square Garden by 5.2% in the 3rd quarter. Vanguard Group Inc now owns 1,637,350 shares of the company’s stock worth $516,290,000 after acquiring an additional 81,581 shares during the period. Institutional investors and hedge funds own 73.22% of the company’s stock.
Several analysts have issued reports on the stock. TheStreet upgraded shares of Madison Square Garden from a “c” rating to a “b-” rating in a research report on Thursday, February 14th. Zacks Investment Research upgraded shares of Madison Square Garden from a “hold” rating to a “buy” rating and set a $345.00 price target on the stock in a research report on Monday, April 22nd. Imperial Capital restated a “buy” rating and issued a $383.00 price target on shares of Madison Square Garden in a research report on Friday, March 29th. Finally, Morgan Stanley raised their price target on shares of Madison Square Garden from $310.00 to $340.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $352.83.
Shares of Madison Square Garden stock traded up $0.08 during trading on Friday, hitting $292.50. 180,200 shares of the company’s stock traded hands, compared to its average volume of 178,225. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.07 and a current ratio of 2.07. Madison Square Garden Co has a twelve month low of $240.33 and a twelve month high of $330.00. The firm has a market cap of $6.95 billion, a P/E ratio of 49.24 and a beta of 0.60.
Madison Square Garden (NYSE:MSG) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.10. Madison Square Garden had a net margin of 2.29% and a return on equity of 1.48%. The firm had revenue of $517.19 million during the quarter, compared to the consensus estimate of $525.06 million. During the same period last year, the firm posted $0.38 EPS. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. On average, equities analysts forecast that Madison Square Garden Co will post 1.25 earnings per share for the current fiscal year.
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Madison Square Garden Profile
The Madison Square Garden Company, together with its subsidiaries, engages in live sports and entertainment businesses in the United States. The company operates in two segments, MSG Sports and MSG Entertainment. The MSG Sports segment owns and operates professional sports franchises; and promotes, produces, and/or presents an array of other live sporting events, including professional boxing, college basketball, college hockey, professional bull riding, mixed martial arts, esports, tennis, and college wrestling.
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