CastleKnight Management LP Sells 157,100 Shares of The Madison Square Garden Company $MSGS

CastleKnight Management LP reduced its position in The Madison Square Garden Company (NYSE:MSGS) by 58.8% in the 4th quarter, Holdings Channel reports. The firm owned 110,200 shares of the company’s stock after selling 157,100 shares during the quarter. Madison Square Garden comprises approximately 0.6% of CastleKnight Management LP’s investment portfolio, making the stock its 17th biggest position. CastleKnight Management LP’s holdings in Madison Square Garden were worth $28,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in Madison Square Garden by 67.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 699,378 shares of the company’s stock worth $180,895,000 after purchasing an additional 282,318 shares during the period. Gamco Investors INC. ET AL lifted its position in Madison Square Garden by 1.1% in the fourth quarter. Gamco Investors INC. ET AL now owns 613,391 shares of the company’s stock worth $158,654,000 after purchasing an additional 6,873 shares during the period. State Street Corp lifted its position in Madison Square Garden by 3.0% in the fourth quarter. State Street Corp now owns 538,404 shares of the company’s stock worth $139,258,000 after purchasing an additional 15,656 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Madison Square Garden by 0.4% during the third quarter. Victory Capital Management Inc. now owns 455,042 shares of the company’s stock valued at $103,295,000 after acquiring an additional 1,688 shares during the period. Finally, Gabelli Funds LLC lifted 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 valued at $101,984,000 after acquiring an additional 3,607 shares during the period. 68.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

MSGS has been the subject of a number of analyst reports. Weiss Ratings raised Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, March 27th. Seaport Research Partners lifted their price objective on Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Guggenheim lifted their price objective on Madison Square Garden from $422.00 to $470.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Wall Street Zen lowered shares of Madison Square Garden from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Citigroup raised their price objective 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. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Madison Square Garden has a consensus rating of “Hold” and a consensus price target of $356.80.

Madison Square Garden Stock Down 4.0%

Madison Square Garden stock opened at $360.94 on Thursday. The stock has a 50-day simple moving average of $351.94 and a 200 day simple moving average of $307.56. The Madison Square Garden Company has a 12-month low of $186.21 and a 12-month high of $397.00. The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of -388.10 and a beta of 0.61.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. During the same period last year, the company earned ($0.59) earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Madison Square Garden Company will post -0.5 EPS for the current year.

Madison Square Garden Company 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.