New Age Alpha Advisors LLC Purchases 24,983 Shares of The Madison Square Garden Company $MSGS

New Age Alpha Advisors LLC boosted its position in shares of The Madison Square Garden Company (NYSE:MSGS) by 3,115.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,785 shares of the company’s stock after buying an additional 24,983 shares during the period. New Age Alpha Advisors LLC owned approximately 0.11% of Madison Square Garden worth $5,853,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its holdings in shares of Madison Square Garden by 5,450.0% in 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 in the last quarter. Salomon & Ludwin LLC purchased a new position in shares of Madison Square Garden in the 3rd quarter worth $27,000. Accredited Wealth Management LLC grew its stake in shares of Madison Square Garden by 524.0% in the 3rd quarter. Accredited Wealth Management LLC now owns 156 shares of the company’s stock worth $35,000 after buying an additional 131 shares in the last quarter. Hantz Financial Services Inc. bought a new stake in shares of Madison Square Garden in the 3rd quarter worth about $80,000. Finally, Tower Research Capital LLC TRC raised its position 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. Institutional investors own 68.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MSGS shares. Wolfe Research lowered Madison Square Garden from an “outperform” rating to a “hold” rating in a research report on Monday, December 15th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Madison Square Garden in a research note on Monday, December 29th. JPMorgan Chase & Co. boosted their target price on Madison Square Garden from $240.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Guggenheim reaffirmed a “buy” rating on shares of Madison Square Garden in a research note on Thursday, February 5th. Finally, Citigroup boosted their price objective on shares of Madison Square Garden from $290.00 to $337.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $286.00.

Insider Buying and Selling

In other news, Director Charles P. Dolan sold 5,659 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $325.26, for a total transaction of $1,840,646.34. Following the transaction, the director directly owned 435 shares of the company’s stock, valued at approximately $141,488.10. This trade represents a 92.86% decrease in their ownership of the stock. The sale 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.

Madison Square Garden Stock Up 3.0%

MSGS stock opened at $331.28 on Friday. The Madison Square Garden Company has a twelve month low of $173.26 and a twelve month high of $345.46. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of -480.12 and a beta of 0.61. The business’s fifty day simple moving average is $282.76 and its two-hundred day simple moving average is $240.14.

Madison Square Garden (NYSE:MSGS) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). The firm had revenue of $403.42 million for the quarter, compared to analysts’ expectations of $394.58 million. During the same quarter in the previous year, the firm posted $0.05 EPS. The company’s revenue was up 12.7% on a year-over-year basis. Research analysts expect that The Madison Square Garden Company will post 0.73 EPS for the current 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.