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

Gamco Investors INC. ET AL lowered its stake in The Madison Square Garden Company (NYSE:MSGS) by 4.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 587,652 shares of the company’s stock after selling 25,739 shares during the quarter. Madison Square Garden makes up approximately 1.9% of Gamco Investors INC. ET AL’s investment portfolio, making the stock its largest position. Gamco Investors INC. ET AL owned 2.44% of Madison Square Garden worth $188,871,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in MSGS. Gabelli Funds LLC increased its holdings in shares of Madison Square Garden by 0.9% during the fourth quarter. Gabelli Funds LLC now owns 394,292 shares of the company’s stock worth $101,984,000 after buying an additional 3,607 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Madison Square Garden by 1,394.6% in the 4th quarter. M&T Bank Corp now owns 16,396 shares of the company’s stock valued at $4,241,000 after acquiring an additional 15,299 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Madison Square Garden by 38.7% during the 4th quarter. Assetmark Inc. now owns 11,794 shares of the company’s stock valued at $3,051,000 after acquiring an additional 3,288 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Madison Square Garden by 46.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 19,162 shares of the company’s stock valued at $4,956,000 after acquiring an additional 6,041 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in Madison Square Garden during the 4th quarter worth $5,596,000. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MSGS has been the subject of a number of recent research reports. Citigroup upped their target price on Madison Square Garden from $355.00 to $360.00 and gave the stock a “neutral” rating in a report on Wednesday, May 13th. Guggenheim lifted their price target on Madison Square Garden from $470.00 to $522.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley upgraded Madison Square Garden from an “equal weight” rating to an “overweight” rating and set a $450.00 price target on the stock in a report on Wednesday, July 15th. Susquehanna raised their price objective on shares of Madison Square Garden from $429.00 to $430.00 and gave the company a “positive” rating in a report on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Madison Square Garden from $400.00 to $450.00 and gave the company an “overweight” rating in a report on Tuesday. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $442.40.

Madison Square Garden Stock Up 0.4%

NYSE MSGS opened at $396.01 on Friday. The company has a market capitalization of $9.53 billion, a price-to-earnings ratio of -425.81 and a beta of 0.61. The Madison Square Garden Company has a twelve month low of $188.60 and a twelve month high of $411.73. The stock has a fifty day simple moving average of $380.53 and a 200 day simple moving average of $334.74.

Madison Square Garden (NYSE:MSGS) last announced its earnings results on Friday, May 8th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($1.39). The company had revenue of $432.20 million during the quarter, compared to analyst estimates of $429.66 million. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.59) earnings per share. Research analysts expect that The Madison Square Garden Company will post -0.06 earnings per share for the current fiscal year.

Madison Square Garden 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.