Gabelli Funds LLC Has $125.62 Million Holdings in The Madison Square Garden Company $MSGS

Gabelli Funds LLC trimmed its holdings in shares of The Madison Square Garden Company (NYSE:MSGS) by 0.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 390,862 shares of the company’s stock after selling 3,430 shares during the quarter. Madison Square Garden comprises 0.8% of Gabelli Funds LLC’s portfolio, making the stock its 14th biggest holding. Gabelli Funds LLC owned 1.62% of Madison Square Garden worth $125,623,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd acquired a new stake in shares of Madison Square Garden in the fourth quarter worth about $26,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Madison Square Garden by 67.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 122 shares of the company’s stock valued at $32,000 after acquiring an additional 49 shares during the last quarter. SJS Investment Consulting Inc. increased its holdings in shares of Madison Square Garden by 488.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 100 shares of the company’s stock valued at $32,000 after acquiring an additional 83 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Madison Square Garden by 1,150.0% in the 4th quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock valued at $32,000 after acquiring an additional 115 shares in the last quarter. Finally, Salomon & Ludwin LLC lifted its holdings in Madison Square Garden by 33.1% in the 4th quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock worth $40,000 after purchasing an additional 39 shares during the last quarter. 68.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MSGS has been the subject of a number of recent analyst reports. Guggenheim upped their target price on Madison Square Garden from $470.00 to $522.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings reissued a “hold (c-)” rating on shares of Madison Square Garden in a research report on Wednesday, June 24th. Zacks Research cut shares of Madison Square Garden from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 16th. Wall Street Zen raised shares of Madison Square Garden from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Susquehanna raised their target price on shares of Madison Square Garden from $429.00 to $430.00 and gave the company a “positive” rating in a research note on Tuesday, June 23rd. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Madison Square Garden presently has a consensus rating of “Hold” and an average target price of $442.40.

Madison Square Garden Trading Up 0.4%

Shares of Madison Square Garden stock opened at $396.01 on Friday. The Madison Square Garden Company has a 1 year low of $188.60 and a 1 year high of $411.73. The company’s fifty day simple moving average is $380.53 and its 200-day simple moving average is $334.74. The company has a market cap of $9.54 billion, a price-to-earnings ratio of -425.81 and a beta of 0.61.

Madison Square Garden (NYSE:MSGS) last released its 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 analysts’ expectations of $429.66 million. During the same period in the prior year, the firm posted ($0.59) EPS. Madison Square Garden’s revenue was up 1.9% on a year-over-year basis. As a group, research analysts forecast that The Madison Square Garden Company will post -0.06 earnings per share for the current fiscal year.

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.