Selz Capital LLC Trims Stake in Madison Square Garden Co (NYSE:MSG)

Selz Capital LLC reduced its position in Madison Square Garden Co (NYSE:MSG) by 18.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 32,080 shares of the company’s stock after selling 7,304 shares during the period. Madison Square Garden accounts for about 2.1% of Selz Capital LLC’s holdings, making the stock its 15th biggest holding. Selz Capital LLC owned 0.14% of Madison Square Garden worth $8,453,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. AdvisorNet Financial Inc acquired a new position in Madison Square Garden in the 2nd quarter valued at about $30,000. Advisory Services Network LLC increased its position in Madison Square Garden by 850.0% in the 2nd quarter. Advisory Services Network LLC now owns 171 shares of the company’s stock valued at $48,000 after acquiring an additional 153 shares during the period. Trust Co. of Vermont acquired a new position in Madison Square Garden in the 2nd quarter valued at about $49,000. Seeyond increased its position in Madison Square Garden by 105.4% in the 2nd quarter. Seeyond now owns 267 shares of the company’s stock valued at $75,000 after acquiring an additional 137 shares during the period. Finally, Parallel Advisors LLC increased its position in Madison Square Garden by 87.6% in the 2nd quarter. Parallel Advisors LLC now owns 362 shares of the company’s stock valued at $101,000 after acquiring an additional 169 shares during the period. 73.10% of the stock is owned by institutional investors and hedge funds.

NYSE MSG traded up $2.03 on Friday, hitting $265.58. 3,336 shares of the company’s stock were exchanged, compared to its average volume of 188,214. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.86 and a quick ratio of 1.86. The firm’s 50-day moving average price is $260.34 and its two-hundred day moving average price is $285.76. Madison Square Garden Co has a fifty-two week low of $240.33 and a fifty-two week high of $315.95. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of 553.83 and a beta of 0.55.

Madison Square Garden (NYSE:MSG) last released its earnings results on Tuesday, August 20th. The company reported ($3.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.34) by ($0.74). Madison Square Garden had a return on equity of 0.43% and a net margin of 0.70%. The business had revenue of $263.56 million for the quarter, compared to analyst estimates of $270.09 million. During the same quarter in the previous year, the firm posted ($1.94) EPS. The business’s revenue for the quarter was down 17.1% on a year-over-year basis. On average, research analysts predict that Madison Square Garden Co will post 0.55 earnings per share for the current fiscal year.

Several brokerages recently issued reports on MSG. Imperial Capital dropped their price target on Madison Square Garden from $377.00 to $362.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 21st. Guggenheim set a $350.00 price target on Madison Square Garden and gave the company a “buy” rating in a research report on Wednesday, August 21st. Morgan Stanley dropped their price target on Madison Square Garden from $340.00 to $320.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. Finally, ValuEngine upgraded Madison Square Garden from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $346.60.

Madison Square Garden Profile

The Madison Square Garden Company, together with its subsidiaries, engages in live sports and entertainment businesses in the United States. The company operates in two segments, MSG Sports and MSG Entertainment. The MSG Sports segment owns and operates professional sports franchises; and promotes, produces, and/or presents an array of other live sporting events, including professional boxing, college basketball, college hockey, professional bull riding, mixed martial arts, esports, tennis, and college wrestling.

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

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