Tabor Asset Management LP Decreases Stock Holdings in The Madison Square Garden Company $MSGS

Tabor Asset Management LP lowered its stake in shares of The Madison Square Garden Company (NYSE:MSGS) by 53.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 10,263 shares of the company’s stock after selling 11,842 shares during the quarter. Madison Square Garden makes up approximately 1.5% of Tabor Asset Management LP’s portfolio, making the stock its 26th largest holding. Tabor Asset Management LP’s holdings in Madison Square Garden were worth $2,144,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MSGS. Gamco Investors INC. ET AL raised its holdings in shares of Madison Square Garden by 2.5% during the first quarter. Gamco Investors INC. ET AL now owns 603,324 shares of the company’s stock valued at $117,479,000 after purchasing an additional 14,669 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Madison Square Garden by 6.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 528,545 shares of the company’s stock worth $102,919,000 after purchasing an additional 29,938 shares during the last quarter. Greenhouse Funds LLLP grew its position in Madison Square Garden by 3.5% in the 1st quarter. Greenhouse Funds LLLP now owns 408,327 shares of the company’s stock worth $79,509,000 after purchasing an additional 13,707 shares during the period. Victory Capital Management Inc. raised its stake in Madison Square Garden by 523.2% during the 1st quarter. Victory Capital Management Inc. now owns 347,800 shares of the company’s stock valued at $67,724,000 after buying an additional 291,989 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Madison Square Garden by 15.9% during the 1st quarter. Northern Trust Corp now owns 135,191 shares of the company’s stock valued at $26,324,000 after buying an additional 18,529 shares during the last quarter. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Madison Square Garden Trading Up 1.9%

Shares of NYSE:MSGS opened at $219.82 on Friday. The stock has a 50 day moving average of $217.66 and a 200 day moving average of $204.53. The company has a market cap of $5.28 billion, a PE ratio of -224.30 and a beta of 0.77. The Madison Square Garden Company has a 12-month low of $173.26 and a 12-month high of $237.99.

Madison Square Garden (NYSE:MSGS) last issued its quarterly earnings results on Friday, October 31st. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($1.04) by $0.67. The business had revenue of $39.45 million for the quarter, compared to the consensus estimate of $41.41 million. Madison Square Garden had a negative net margin of 2.31% and a negative return on equity of 1.76%. The company’s revenue for the quarter was down 26.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.31) earnings per share. Equities research analysts predict that The Madison Square Garden Company will post 0.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MSGS shares. Wolfe Research restated an “outperform” rating on shares of Madison Square Garden in a research note on Monday. Zacks Research raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Weiss Ratings raised Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday, October 25th. Citigroup started coverage on Madison Square Garden in a research note on Tuesday, September 9th. They set a “buy” rating and a $285.00 price target for the company. Finally, BTIG Research started coverage on shares of Madison Square Garden in a research note on Tuesday, October 7th. They issued a “neutral” rating on the stock. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.50.

About Madison Square Garden

Madison Square Garden Sports Corp. operates as a professional sports company in the United States. The company owns and operates a portfolio of assets that consists of the New York Knickerbockers of the National Basketball Association (NBA) and the New York Rangers of the National Hockey League. Its other professional franchises include development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.