BlackRock Inc. Has $153.22 Million Position in The Madison Square Garden Company (NYSE:MSG)

BlackRock Inc. boosted its stake in shares of The Madison Square Garden Company (NYSE:MSG) by 13,915.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 767,202 shares of the company’s stock after buying an additional 761,728 shares during the period. BlackRock Inc.’s holdings in The Madison Square Garden were worth $153,216,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Lee Capital Management LP purchased a new stake in shares of The Madison Square Garden during the first quarter valued at $400,000. Renaissance Technologies LLC boosted its stake in shares of The Madison Square Garden by 149.2% in the first quarter. Renaissance Technologies LLC now owns 113,900 shares of the company’s stock valued at $22,747,000 after buying an additional 68,202 shares during the period. Morgan Stanley boosted its stake in shares of The Madison Square Garden by 398.8% in the first quarter. Morgan Stanley now owns 131,570 shares of the company’s stock valued at $26,276,000 after buying an additional 105,192 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of The Madison Square Garden by 10.7% in the first quarter. Dimensional Fund Advisors LP now owns 481,679 shares of the company’s stock valued at $96,196,000 after buying an additional 46,665 shares during the period. Finally, Becker Capital Management Inc. purchased a new stake in shares of The Madison Square Garden during the first quarter valued at $14,964,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

The Madison Square Garden Company (NYSE:MSG) opened at 210.64 on Monday. The firm has a 50-day moving average of $196.91 and a 200 day moving average of $191.11. The Madison Square Garden Company has a 52 week low of $160.96 and a 52 week high of $213.80. The stock’s market capitalization is $4.96 billion.

The Madison Square Garden (NYSE:MSG) last announced its earnings results on Thursday, May 4th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.41) by $0.33. The Madison Square Garden had a negative net margin of 3.81% and a negative return on equity of 1.57%. The business had revenue of $386 million during the quarter, compared to analyst estimates of $365.57 million. During the same period in the previous year, the company earned ($2.47) earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, analysts anticipate that The Madison Square Garden Company will post ($0.72) EPS for the current year.

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Several brokerages recently weighed in on MSG. Zacks Investment Research cut shares of The Madison Square Garden from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 18th. ValuEngine raised shares of The Madison Square Garden from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Citigroup Inc. reduced their target price on shares of The Madison Square Garden from $102.00 to $93.00 and set a “buy” rating on the stock in a report on Monday, May 15th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $185.00 target price on shares of The Madison Square Garden in a report on Monday, May 15th. Finally, Bank of America Corporation began coverage on shares of The Madison Square Garden in a report on Tuesday, May 2nd. They issued a “buy” rating and a $243.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $195.90.

The Madison Square Garden Company Profile

The Madison Square Garden Company is a holding company, which is engaged in live experiences consisting of celebrated venues, sports teams, and entertainment productions. The Company operates in two segments, which include MSG Entertainment and MSG Sports. The MSG Sports segment includes the Company’s professional sports franchises, which include the New York Knicks (the Knicks) of the National Basketball Association (the NBA), the New York Rangers (the Rangers) of the National Hockey League (the NHL), the New York Liberty (the Liberty) of the Women’s National Basketball Association (the WNBA), the Hartford Wolf Pack of the American Hockey League (the AHL), which is the primary player development team for the Rangers, and the Westchester Knicks, an NBA Development League team.

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Institutional Ownership by Quarter for The Madison Square Garden (NYSE:MSG)

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