The Madison Square Garden Company $MSGS Shares Bought by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL boosted its stake in The Madison Square Garden Company (NYSE:MSGS) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 613,391 shares of the company’s stock after purchasing an additional 6,873 shares during the quarter. Madison Square Garden comprises about 1.5% of Gamco Investors INC. ET AL’s holdings, making the stock its 4th biggest position. Gamco Investors INC. ET AL’s holdings in Madison Square Garden were worth $158,654,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of MSGS. Accredited Wealth Management LLC grew its holdings in Madison Square Garden by 524.0% in the third quarter. Accredited Wealth Management LLC now owns 156 shares of the company’s stock worth $35,000 after purchasing an additional 131 shares during the period. Salomon & Ludwin LLC grew its holdings in Madison Square Garden by 33.1% in the fourth quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock worth $40,000 after purchasing an additional 39 shares during the period. Sound Income Strategies LLC acquired a new stake in Madison Square Garden in the fourth quarter worth $45,000. Allworth Financial LP grew its holdings in Madison Square Garden by 26.5% in the fourth quarter. Allworth Financial LP now owns 196 shares of the company’s stock worth $51,000 after purchasing an additional 41 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in Madison Square Garden by 157.7% in the fourth quarter. Farther Finance Advisors LLC now owns 286 shares of the company’s stock worth $74,000 after purchasing an additional 175 shares during the period. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Trading Down 0.1%

Madison Square Garden stock opened at $351.33 on Monday. The Madison Square Garden Company has a 1-year low of $186.00 and a 1-year high of $357.42. The firm has a market capitalization of $8.46 billion, a price-to-earnings ratio of -377.77 and a beta of 0.59. The firm’s fifty day moving average price is $326.31 and its two-hundred day moving average price is $282.86.

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

Insider Buying and Selling at Madison Square Garden

In other Madison Square Garden news, Director Charles P. Dolan sold 5,659 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $325.26, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 19.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on MSGS. JPMorgan Chase & Co. raised their price target 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. Seaport Research Partners upgraded shares of Madison Square Garden from a “neutral” rating to a “buy” rating and set a $430.00 price target for the company in a report on Friday, April 10th. Weiss Ratings upgraded shares of Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, March 27th. Citigroup raised their price target on shares of Madison Square Garden from $355.00 to $360.00 and gave the stock a “neutral” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen lowered shares of Madison Square Garden from a “hold” rating to a “sell” rating in a research note on Saturday. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $342.20.

About Madison Square Garden

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.