SG Americas Securities LLC Lowers Position in The Madison Square Garden Company $MSGS

SG Americas Securities LLC decreased its holdings in shares of The Madison Square Garden Company (NYSE:MSGS) by 76.3% in the 3rd quarter, Holdings Channel reports. The firm owned 11,477 shares of the company’s stock after selling 36,856 shares during the period. SG Americas Securities LLC’s holdings in Madison Square Garden were worth $2,605,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MSGS. Farther Finance Advisors LLC lifted its position in Madison Square Garden by 5,450.0% during the third quarter. Farther Finance Advisors LLC now owns 111 shares of the company’s stock valued at $25,000 after purchasing an additional 109 shares during the last quarter. Salomon & Ludwin LLC bought a new position in Madison Square Garden in the third quarter valued at $27,000. Fifth Third Bancorp increased its position in shares of Madison Square Garden by 59.5% during the 2nd quarter. Fifth Third Bancorp now owns 185 shares of the company’s stock valued at $39,000 after purchasing an additional 69 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Madison Square Garden by 313.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 401 shares of the company’s stock valued at $84,000 after buying an additional 304 shares in the last quarter. Finally, CWM LLC lifted its position in Madison Square Garden by 407.7% in the 2nd quarter. CWM LLC now owns 528 shares of the company’s stock worth $110,000 after buying an additional 424 shares during the last quarter. 68.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. BTIG Research assumed coverage on shares of Madison Square Garden in a research report on Tuesday, October 7th. They set a “neutral” rating on the stock. Wolfe Research downgraded shares of Madison Square Garden from an “outperform” rating to a “hold” rating in a research note on Monday, December 15th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Madison Square Garden in a research report on Monday, December 29th. Citigroup upped their target price on Madison Square Garden from $285.00 to $290.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Finally, Zacks Research raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $261.33.

Madison Square Garden Stock Performance

Shares of NYSE:MSGS opened at $278.01 on Wednesday. The firm has a market capitalization of $6.68 billion, a P/E ratio of -283.68 and a beta of 0.63. The stock has a 50 day moving average price of $236.76 and a 200-day moving average price of $219.47. The Madison Square Garden Company has a 52-week low of $173.26 and a 52-week high of $278.49.

Madison Square Garden (NYSE:MSGS) last issued its quarterly earnings results on Friday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($1.04) by $0.67. The firm had revenue of $39.45 million during the quarter, compared to analysts’ expectations of $41.41 million. Madison Square Garden’s revenue for the quarter was down 26.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.31) earnings per share. On average, equities analysts forecast that The Madison Square Garden Company will post 0.73 EPS for the current fiscal 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.