The Madison Square Garden Company $MSGS Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in The Madison Square Garden Company (NYSE:MSGS) by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 455,042 shares of the company’s stock after purchasing an additional 1,688 shares during the period. Victory Capital Management Inc. owned about 1.89% of Madison Square Garden worth $103,295,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its holdings in 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Madison Square Garden during the 2nd quarter worth approximately $288,000. Advisors Capital Management LLC increased its position in shares of Madison Square Garden by 12.2% in the 2nd quarter. Advisors Capital Management LLC now owns 11,861 shares of the company’s stock valued at $2,478,000 after purchasing an additional 1,291 shares during the last quarter. Vise Technologies Inc. acquired a new stake in shares of Madison Square Garden in the 2nd quarter valued at $437,000. Finally, Greenland Capital Management LP acquired a new stake in shares of Madison Square Garden in the 2nd quarter valued at $468,000. Institutional investors and hedge funds own 68.94% of the company’s stock.

Madison Square Garden Trading Down 0.2%

MSGS stock opened at $321.16 on Thursday. The company has a market capitalization of $7.73 billion, a P/E ratio of -465.45 and a beta of 0.56. The business has a 50 day simple moving average of $286.82 and a 200-day simple moving average of $242.83. The Madison Square Garden Company has a twelve month low of $173.26 and a twelve month high of $345.46.

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

Analyst Ratings Changes

A number of equities analysts recently commented on MSGS shares. JPMorgan Chase & Co. boosted their target price on shares of Madison Square Garden from $240.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Guggenheim reissued a “buy” rating on shares of Madison Square Garden in a research report on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Madison Square Garden in a report on Monday, December 29th. Wall Street Zen raised shares of Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Wolfe Research downgraded shares of Madison Square Garden from an “outperform” rating to a “hold” rating in a research report on Monday, December 15th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $286.00.

Insider Activity at Madison Square Garden

In other news, Director Charles P. Dolan sold 5,659 shares of the company’s stock in a transaction dated 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 completion of the sale, the director directly owned 435 shares of the company’s stock, valued at approximately $141,488.10. This represents a 92.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 19.07% of the company’s stock.

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.