Systematic Financial Management LP Sells 1,988 Shares of The Madison Square Garden Company $MSGS

Systematic Financial Management LP lessened its stake in shares of The Madison Square Garden Company (NYSE:MSGS) by 1.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 154,501 shares of the company’s stock after selling 1,988 shares during the period. Madison Square Garden makes up approximately 1.1% of Systematic Financial Management LP’s holdings, making the stock its 17th largest holding. Systematic Financial Management LP owned approximately 0.64% of Madison Square Garden worth $49,657,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Sei Investments Co. increased its position in Madison Square Garden by 36.9% during the first quarter. Sei Investments Co. now owns 8,718 shares of the company’s stock valued at $2,802,000 after acquiring an additional 2,352 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Madison Square Garden by 24.2% in the 1st quarter. First Trust Advisors LP now owns 16,254 shares of the company’s stock worth $5,224,000 after acquiring an additional 3,171 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Madison Square Garden by 2.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,490 shares of the company’s stock worth $800,000 after acquiring an additional 56 shares during the last quarter. KBC Group NV boosted its stake in shares of Madison Square Garden by 5,609.4% during the 1st quarter. KBC Group NV now owns 30,488 shares of the company’s stock worth $9,799,000 after purchasing an additional 29,954 shares during the period. Finally, Swiss National Bank boosted its stake in shares of Madison Square Garden by 0.7% during the 1st quarter. Swiss National Bank now owns 30,933 shares of the company’s stock worth $9,942,000 after purchasing an additional 200 shares during the period. 68.94% of the stock is currently owned by institutional investors.

Madison Square Garden Trading Down 0.5%

NYSE MSGS opened at $395.25 on Friday. The company’s 50-day moving average price is $379.64 and its 200-day moving average price is $334.31. The stock has a market cap of $9.52 billion, a PE ratio of -424.99 and a beta of 0.61. The Madison Square Garden Company has a 12 month low of $188.60 and a 12 month high of $411.73.

Madison Square Garden (NYSE:MSGS) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of $0.56 by ($1.39). The company had revenue of $432.20 million for the quarter, compared to the consensus estimate of $429.66 million. Madison Square Garden’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.59) earnings per share. As a group, sell-side analysts forecast that The Madison Square Garden Company will post -0.18 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on MSGS. Weiss Ratings reiterated a “hold (c-)” rating on shares of Madison Square Garden in a report on Wednesday, June 24th. Wall Street Zen upgraded Madison Square Garden from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Citigroup boosted their target price on Madison Square Garden from $355.00 to $360.00 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. Susquehanna upped their target price on Madison Square Garden from $429.00 to $430.00 and gave the company a “positive” rating in a research note on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. increased their price target on Madison Square Garden from $400.00 to $450.00 and gave the stock an “overweight” rating in a report on Tuesday. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $442.40.

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.