Columbia Asset Management Has $743,000 Position in The Madison Square Garden Company (MSG)

Columbia Asset Management boosted its position in shares of The Madison Square Garden Company (NYSE:MSG) by 142.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,777 shares of the company’s stock after purchasing an additional 2,222 shares during the period. Columbia Asset Management’s holdings in The Madison Square Garden were worth $743,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of MSG. BlackRock Inc. grew its holdings in The Madison Square Garden by 13,915.4% during the 1st quarter. BlackRock Inc. now owns 767,202 shares of the company’s stock valued at $153,216,000 after purchasing an additional 761,728 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its holdings in The Madison Square Garden by 1,731.6% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 146,583 shares of the company’s stock valued at $28,862,000 after purchasing an additional 138,580 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in The Madison Square Garden during the 1st quarter valued at about $25,097,000. Morgan Stanley grew its holdings in The Madison Square Garden by 398.8% during the 1st quarter. Morgan Stanley now owns 131,570 shares of the company’s stock valued at $26,276,000 after purchasing an additional 105,192 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in The Madison Square Garden by 268.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 118,256 shares of the company’s stock valued at $23,617,000 after purchasing an additional 86,155 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

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Shares of The Madison Square Garden Company (NYSE MSG) traded down 0.22% during trading on Friday, reaching $220.01. 189,381 shares of the company’s stock were exchanged. The Madison Square Garden Company has a 12-month low of $160.96 and a 12-month high of $226.95. The company has a 50 day moving average of $215.64 and a 200 day moving average of $201.38. The stock’s market cap is $5.18 billion.

The Madison Square Garden (NYSE:MSG) last released its quarterly earnings results on Thursday, August 17th. The company reported ($3.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.10) by $2.48. The company had revenue of $305.60 million during the quarter, compared to analysts’ expectations of $279.19 million. The Madison Square Garden had a negative net margin of 5.52% and a negative return on equity of 2.43%. The Madison Square Garden’s revenue was up 40.3% on a year-over-year basis. During the same period last year, the firm posted ($2.39) earnings per share. Equities research analysts anticipate that The Madison Square Garden Company will post $0.71 EPS for the current year.

Several equities analysts recently commented on the stock. Morgan Stanley reiterated an “overweight” rating and set a $245.00 price target (up from $215.00) on shares of The Madison Square Garden in a report on Tuesday, July 25th. BTIG Research reiterated a “buy” rating and set a $260.00 price target (up from $240.00) on shares of The Madison Square Garden in a report on Tuesday, July 25th. Jefferies Group LLC upped their price target on shares of The Madison Square Garden from $185.00 to $200.00 and gave the company a “hold” rating in a report on Friday, August 18th. Citigroup Inc. cut their price target 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. Finally, Zacks Investment Research downgraded shares of The Madison Square Garden from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $204.67.

About The Madison Square Garden

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.

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

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