The Madison Square Garden Company (MSG) Shares Sold by CI Investments Inc.

CI Investments Inc. cut its stake in shares of The Madison Square Garden Company (NYSE:MSG) by 26.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,070 shares of the company’s stock after selling 1,800 shares during the quarter. CI Investments Inc.’s holdings in The Madison Square Garden were worth $998,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in The Madison Square Garden by 8.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 712 shares of the company’s stock worth $140,000 after acquiring an additional 58 shares in the last quarter. Westside Investment Management Inc. boosted its stake in The Madison Square Garden by 137.3% during the first quarter. Westside Investment Management Inc. now owns 719 shares of the company’s stock worth $141,000 after acquiring an additional 416 shares in the last quarter. CGOV Asset Management bought a new position in The Madison Square Garden during the first quarter worth $266,000. CIBC World Markets Inc. bought a new position in The Madison Square Garden during the first quarter worth $209,000. Finally, Princeton Alpha Management LP bought a new position in The Madison Square Garden during the first quarter worth $240,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently issued reports on the stock. Morgan Stanley reissued an “overweight” rating and set a $245.00 target price (up from $215.00) on shares of The Madison Square Garden in a research note on Tuesday, July 25th. BTIG Research reissued a “buy” rating and set a $260.00 target price (up from $240.00) on shares of The Madison Square Garden in a research note on Tuesday, July 25th. Jefferies Group LLC increased their target price on shares of The Madison Square Garden from $185.00 to $200.00 and gave the stock a “hold” rating in a research note on Friday, August 18th. Citigroup Inc. cut 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 research note on Monday, May 15th. Finally, Zacks Investment Research lowered shares of The Madison Square Garden from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 18th. One investment 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. The Madison Square Garden currently has a consensus rating of “Hold” and a consensus price target of $204.67.

ILLEGAL ACTIVITY WARNING: “The Madison Square Garden Company (MSG) Shares Sold by CI Investments Inc.” was originally reported by Markets Daily and is the property of of Markets Daily. If you are reading this piece on another domain, it was illegally stolen and republished in violation of US and international copyright legislation. The original version of this piece can be accessed at https://www.themarketsdaily.com/2017/09/10/the-madison-square-garden-company-msg-shares-sold-by-ci-investments-inc.html.

The Madison Square Garden Company (MSG) traded down 0.22% on Friday, hitting $220.01. 189,381 shares of the company’s stock were exchanged. The Madison Square Garden Company has a 52-week low of $160.96 and a 52-week high of $226.95. The firm has a 50 day moving average price of $215.64 and a 200-day moving average price of $201.38. The stock’s market cap is $5.18 billion.

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

The Madison Square Garden 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.

Want to see what other hedge funds are holding MSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Madison Square Garden Company (NYSE:MSG).

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

Receive News & Ratings for The Madison Square Garden Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Madison Square Garden Company and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply