Fox Run Management L.L.C. Makes New $810,000 Investment in The Madison Square Garden Company $MSGS

Fox Run Management L.L.C. bought a new position in shares of The Madison Square Garden Company (NYSE:MSGS) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,133 shares of the company’s stock, valued at approximately $810,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MSGS. Reinhart Partners LLC. bought a new stake in shares of Madison Square Garden during the fourth quarter worth $55,586,000. Norges Bank bought a new stake in shares of Madison Square Garden during the fourth quarter worth $51,107,000. Scopus Asset Management L.P. bought a new stake in shares of Madison Square Garden during the second quarter worth $14,787,000. Citigroup Inc. grew its stake in shares of Madison Square Garden by 294.7% during the third quarter. Citigroup Inc. now owns 39,718 shares of the company’s stock worth $9,016,000 after buying an additional 29,656 shares during the last quarter. Finally, New Age Alpha Advisors LLC grew its stake in shares of Madison Square Garden by 3,115.1% during the third quarter. New Age Alpha Advisors LLC now owns 25,785 shares of the company’s stock worth $5,853,000 after buying an additional 24,983 shares during the last quarter. Institutional investors own 68.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MSGS. Citigroup lifted their price target on shares of Madison Square Garden from $355.00 to $360.00 and gave the stock a “neutral” rating in a report on Wednesday, May 13th. Wall Street Zen lowered shares of Madison Square Garden from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Susquehanna lifted their price target on shares of Madison Square Garden from $404.00 to $429.00 and gave the stock a “positive” rating in a report on Thursday, May 28th. Seaport Research Partners lifted their price target on shares of Madison Square Garden from $430.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, Weiss Ratings upgraded shares of Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $356.80.

Madison Square Garden Stock Performance

Shares of NYSE:MSGS opened at $385.69 on Thursday. The firm has a market cap of $9.29 billion, a PE ratio of -414.71 and a beta of 0.61. The firm’s fifty day moving average is $346.40 and its 200-day moving average is $302.06. The Madison Square Garden Company has a 52 week low of $186.00 and a 52 week high of $392.56.

Madison Square Garden (NYSE:MSGS) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates 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. The business’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 business posted ($0.59) EPS. Sell-side analysts forecast that The Madison Square Garden Company will post -0.5 EPS 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.