First Quadrant L P CA continued to hold its position in shares of The Madison Square Garden Company (NYSE:MSG) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,866 shares of the company’s stock at the end of the second quarter. First Quadrant L P CA’s holdings in The Madison Square Garden were worth $367,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Norman Fields Gottscho Capital Management LLC increased its position in shares of The Madison Square Garden by 4.5% in the first quarter. Norman Fields Gottscho Capital Management LLC now owns 19,252 shares of the company’s stock worth $3,845,000 after buying an additional 828 shares in the last quarter. Bank of Montreal Can increased its position in shares of The Madison Square Garden by 5.5% in the first quarter. Bank of Montreal Can now owns 20,258 shares of the company’s stock worth $4,045,000 after buying an additional 1,050 shares in the last quarter. CGOV Asset Management bought a new position in shares of The Madison Square Garden during the first quarter worth about $266,000. Telemus Capital LLC bought a new position in shares of The Madison Square Garden during the first quarter worth about $1,389,000. Finally, State of Alaska Department of Revenue increased its position in shares of The Madison Square Garden by 4.6% in the first quarter. State of Alaska Department of Revenue now owns 2,306 shares of the company’s stock worth $460,000 after buying an additional 102 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.
Shares of The Madison Square Garden Company (NYSE MSG) traded up 0.80% during midday trading on Friday, reaching $209.82. 51,328 shares of the company were exchanged. The firm’s 50 day moving average is $208.08 and its 200-day moving average is $197.08. The Madison Square Garden Company has a 52-week low of $160.96 and a 52-week high of $223.06. The company’s market capitalization is $4.94 billion.
The Madison Square Garden (NYSE:MSG) last issued its quarterly earnings results on Thursday, August 17th. The company reported ($3.58) EPS for the quarter, missing the consensus estimate of ($1.10) by $2.48. The Madison Square Garden had a negative return on equity of 1.57% and a negative net margin of 3.81%. The business had revenue of $305.60 million during the quarter, compared to the consensus estimate of $279.19 million. During the same quarter last year, the firm posted ($2.39) earnings per share. The Madison Square Garden’s revenue was up 40.3% compared to the same quarter last year. On average, equities analysts forecast that The Madison Square Garden Company will post ($0.78) earnings per share for the current fiscal year.
MSG has been the subject of a number of research analyst reports. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $245.00 price target on shares of The Madison Square Garden in a report on Thursday, April 20th. Bank of America Corporation initiated coverage on shares of The Madison Square Garden in a report on Tuesday, May 2nd. They issued a “buy” rating and a $243.00 price target for the company. Jefferies Group LLC reiterated a “hold” rating and issued a $185.00 price target on shares of The Madison Square Garden in a report on Friday, May 5th. Citigroup Inc. cut their price target on shares of The Madison Square Garden from $102.00 to $93.00 and set a “buy” rating for the company in a report on Monday, May 8th. Finally, Zacks Investment Research downgraded shares of The Madison Square Garden from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $204.91.
About The Madison Square Garden
The Madison Square Garden Company is a holding company, which is engaged in live experiences consisting of celebrated venues, sports teams, and entertainment productions. The Company operates in two segments, which include MSG Entertainment and MSG Sports. The MSG Sports segment includes the Company’s professional sports franchises, which include the New York Knicks (the Knicks) of the National Basketball Association (the NBA), the New York Rangers (the Rangers) of the National Hockey League (the NHL), the New York Liberty (the Liberty) of the Women’s National Basketball Association (the WNBA), the Hartford Wolf Pack of the American Hockey League (the AHL), which is the primary player development team for the Rangers, and the Westchester Knicks, an NBA Development League team.
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