Sei Investments Co. Has $2.80 Million Stock Holdings in The Madison Square Garden Company $MSGS

Sei Investments Co. grew its stake in shares of The Madison Square Garden Company (NYSE:MSGS) by 36.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 8,718 shares of the company’s stock after acquiring an additional 2,352 shares during the quarter. Sei Investments Co.’s holdings in Madison Square Garden were worth $2,802,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Gabelli Funds LLC increased its holdings in Madison Square Garden by 0.9% in the 4th quarter. Gabelli Funds LLC now owns 394,292 shares of the company’s stock valued at $101,984,000 after buying an additional 3,607 shares during the period. M&T Bank Corp lifted its holdings in shares of Madison Square Garden by 1,394.6% during the 4th quarter. M&T Bank Corp now owns 16,396 shares of the company’s stock worth $4,241,000 after acquiring an additional 15,299 shares during the period. Assetmark Inc. lifted 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 worth $3,051,000 after acquiring an additional 3,288 shares during the period. Gamco Investors INC. ET AL boosted its position in shares of Madison Square Garden by 1.1% during the 4th quarter. Gamco Investors INC. ET AL now owns 613,391 shares of the company’s stock worth $158,654,000 after acquiring an additional 6,873 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new position in Madison Square Garden in the fourth quarter valued at approximately $5,596,000. 68.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Morgan Stanley upgraded Madison Square Garden from an “equal weight” rating to an “overweight” rating and set a $450.00 target price for the company in a research note on Wednesday, July 15th. Citigroup lifted their price target on Madison Square Garden from $355.00 to $360.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Madison Square Garden in a report on Wednesday, June 24th. JPMorgan Chase & Co. upped their price objective on Madison Square Garden from $400.00 to $450.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Finally, Zacks Research lowered Madison Square Garden from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 16th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $442.40.

Madison Square Garden Price Performance

Shares of Madison Square Garden stock opened at $390.52 on Friday. The company’s 50 day moving average price is $387.63 and its two-hundred day moving average price is $343.48. The firm has a market capitalization of $9.40 billion, a P/E ratio of -419.91 and a beta of 0.62. The Madison Square Garden Company has a fifty-two week low of $188.60 and a fifty-two week high of $411.73.

Madison Square Garden (NYSE:MSGS) last announced its quarterly 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 firm had revenue of $432.20 million for the quarter, compared to the consensus estimate of $429.66 million. During the same period in the previous year, the business earned ($0.59) EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. On average, analysts expect that The Madison Square Garden Company will post -0.06 earnings per share for the current 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.