Cookson Peirce & Co. Inc. Acquires New Stake in The Madison Square Garden Company $MSGS

Cookson Peirce & Co. Inc. acquired a new stake in shares of The Madison Square Garden Company (NYSE:MSGS) in the third quarter, Holdings Channel reports. The firm acquired 6,652 shares of the company’s stock, valued at approximately $1,510,000.

Other institutional investors have also recently modified their holdings of the company. Assetmark Inc. raised its position in shares of Madison Square Garden by 65,330.8% in the 3rd quarter. Assetmark Inc. now owns 8,506 shares of the company’s stock worth $1,931,000 after purchasing an additional 8,493 shares during the last quarter. Public Sector Pension Investment Board increased its stake in Madison Square Garden by 22.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 69,960 shares of the company’s stock valued at $15,881,000 after purchasing an additional 12,861 shares in the last quarter. Wedbush Securities Inc. raised its holdings in Madison Square Garden by 4.2% in the third quarter. Wedbush Securities Inc. now owns 7,129 shares of the company’s stock worth $1,618,000 after buying an additional 290 shares during the last quarter. Westover Capital Advisors LLC bought a new position in shares of Madison Square Garden in the third quarter worth approximately $204,000. Finally, Cibc World Market Inc. grew its holdings in shares of Madison Square Garden by 2.8% during the third quarter. Cibc World Market Inc. now owns 1,881 shares of the company’s stock valued at $427,000 after buying an additional 51 shares during the last quarter. 68.94% of the stock is owned by hedge funds and other institutional investors.

Madison Square Garden Stock Performance

Madison Square Garden stock opened at $291.51 on Friday. The stock has a market cap of $7.00 billion, a PE ratio of -422.48 and a beta of 0.61. The Madison Square Garden Company has a one year low of $173.26 and a one year high of $298.97. The stock has a fifty day moving average of $266.20 and a 200 day moving average of $231.80.

Madison Square Garden (NYSE:MSGS) last announced its earnings results on Thursday, February 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.32). The business had revenue of $403.42 million during the quarter, compared to analyst estimates of $394.58 million. During the same quarter last year, the firm earned $0.05 earnings per share. The business’s revenue was up 12.7% on a year-over-year basis. As a group, sell-side analysts predict that The Madison Square Garden Company will post 0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Madison Square Garden from $240.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Citigroup boosted their price target on Madison Square Garden from $290.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday. Guggenheim reaffirmed a “buy” rating on shares of Madison Square Garden in a report on Thursday, February 5th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Madison Square Garden in a report on Monday, December 29th. Finally, Wolfe Research cut shares of Madison Square Garden from an “outperform” rating to a “hold” rating in a research note on Monday, December 15th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $280.00.

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.