HighTower Advisors LLC Sells 9,322 Shares of The Madison Square Garden Company $MSGS

HighTower Advisors LLC trimmed its holdings in shares of The Madison Square Garden Company (NYSE:MSGS) by 47.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,164 shares of the company’s stock after selling 9,322 shares during the quarter. HighTower Advisors LLC’s holdings in Madison Square Garden were worth $2,629,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL grew its holdings in 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 during the last quarter. Gabelli Funds LLC grew its holdings in Madison Square Garden by 0.9% during the 4th quarter. Gabelli Funds LLC now owns 394,292 shares of the company’s stock worth $101,984,000 after acquiring an additional 3,607 shares during the last quarter. Requisite Capital Management LLC grew its holdings in Madison Square Garden by 14.2% during the 4th quarter. Requisite Capital Management LLC now owns 2,000 shares of the company’s stock worth $517,000 after acquiring an additional 248 shares during the last quarter. DNB Asset Management AS bought a new stake in Madison Square Garden during the 4th quarter worth approximately $690,000. Finally, Allworth Financial LP boosted its stake in shares of Madison Square Garden by 26.5% in the 4th quarter. Allworth Financial LP now owns 196 shares of the company’s stock valued at $51,000 after purchasing an additional 41 shares during the last quarter. 68.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MSGS shares. Seaport Research Partners upped their price objective on shares of Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Susquehanna upped their price objective on shares of Madison Square Garden from $404.00 to $429.00 and gave the company a “positive” rating in a research note on Thursday. Guggenheim upped their price objective on shares of Madison Square Garden from $401.00 to $422.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Weiss Ratings raised shares of Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, March 27th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Madison Square Garden from $240.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Madison Square Garden presently has a consensus rating of “Hold” and an average price target of $347.20.

Madison Square Garden Stock Down 0.1%

Shares of NYSE MSGS opened at $373.96 on Monday. The firm has a market cap of $9.00 billion, a PE ratio of -402.10 and a beta of 0.61. The Madison Square Garden Company has a 12-month low of $186.00 and a 12-month high of $376.24. The company’s fifty day simple moving average is $335.10 and its 200 day simple moving average is $292.66.

Madison Square Garden (NYSE:MSGS) last issued 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 for the quarter, compared to analyst estimates of $429.66 million. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.59) earnings per share. On average, equities analysts predict that The Madison Square Garden Company will post -0.5 earnings per share for the current 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.