Charles Schwab Investment Management Inc. Buys 2,640 Shares of The Madison Square Garden Company $MSGS

Charles Schwab Investment Management Inc. boosted its stake in shares of The Madison Square Garden Company (NYSE:MSGS) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,995 shares of the company’s stock after purchasing an additional 2,640 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Madison Square Garden were worth $33,106,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in shares of Madison Square Garden by 11.8% in the third quarter. JPMorgan Chase & Co. now owns 117,905 shares of the company’s stock valued at $26,764,000 after acquiring an additional 12,412 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Madison Square Garden by 30.6% in the third quarter. Envestnet Asset Management Inc. now owns 15,776 shares of the company’s stock valued at $3,581,000 after acquiring an additional 3,700 shares during the period. Citigroup Inc. boosted its position in shares of Madison Square Garden by 294.7% in the third quarter. Citigroup Inc. now owns 39,718 shares of the company’s stock valued at $9,016,000 after acquiring an additional 29,656 shares during the period. TD Asset Management Inc bought a new stake in shares of Madison Square Garden in the third quarter valued at approximately $2,052,000. Finally, Assetmark Inc. boosted its position in shares of Madison Square Garden by 65,330.8% in the third quarter. Assetmark Inc. now owns 8,506 shares of the company’s stock valued at $1,931,000 after acquiring an additional 8,493 shares during the period. Institutional investors own 68.94% of the company’s stock.

Insider Transactions at Madison Square Garden

In other Madison Square Garden news, Director Charles P. Dolan sold 5,659 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $325.26, for a total transaction of $1,840,646.34. Following the completion of the transaction, the director directly owned 435 shares in the company, valued at $141,488.10. This represents a 92.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 19.07% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MSGS has been the subject of several research reports. Wall Street Zen cut Madison Square Garden from a “hold” rating to a “sell” rating in a research report on Saturday. Guggenheim upped their target price on Madison Square Garden from $401.00 to $422.00 and gave the company a “buy” rating in a research note on Friday. Weiss Ratings upgraded Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, March 27th. Susquehanna upped their target price on Madison Square Garden from $388.00 to $404.00 and gave the company a “positive” rating in a research note on Thursday. Finally, Seaport Research Partners upgraded Madison Square Garden from a “neutral” rating to a “buy” rating and set a $430.00 target price for the company in a research note on Friday, April 10th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Madison Square Garden has a consensus rating of “Hold” and a consensus target price of $342.20.

Madison Square Garden Price Performance

Madison Square Garden stock opened at $351.33 on Friday. The stock has a fifty day moving average price of $326.31 and a two-hundred day moving average price of $282.47. The Madison Square Garden Company has a 52-week low of $186.00 and a 52-week high of $357.42. The firm has a market capitalization of $8.46 billion, a P/E ratio of -377.77 and a beta of 0.59.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($1.39). The business had revenue of $432.20 million during the quarter, compared to analysts’ expectations of $429.66 million. During the same period in the prior year, the company earned ($0.59) EPS. Madison Square Garden’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities research analysts predict that The Madison Square Garden Company will post -0.5 EPS for the current fiscal year.

Madison Square Garden Company 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.