Rockefeller Capital Management L.P. Grows Stake in The Madison Square Garden Company $MSGS

Rockefeller Capital Management L.P. grew its stake in shares of The Madison Square Garden Company (NYSE:MSGS) by 4.0% during the second quarter, HoldingsChannel reports. The firm owned 17,623 shares of the company’s stock after buying an additional 679 shares during the period. Rockefeller Capital Management L.P.’s holdings in Madison Square Garden were worth $3,682,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Atria Wealth Solutions Inc. lifted its position in Madison Square Garden by 100.0% during the 1st quarter. Atria Wealth Solutions Inc. now owns 3,100 shares of the company’s stock worth $604,000 after acquiring an additional 1,550 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Madison Square Garden during the first quarter valued at approximately $575,000. Inspire Trust Co. N.A. raised its stake in shares of Madison Square Garden by 28.6% during the first quarter. Inspire Trust Co. N.A. now owns 9,000 shares of the company’s stock valued at $1,752,000 after purchasing an additional 2,000 shares during the period. Royal Bank of Canada lifted its position in shares of Madison Square Garden by 5.4% during the first quarter. Royal Bank of Canada now owns 54,949 shares of the company’s stock worth $10,701,000 after purchasing an additional 2,818 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Madison Square Garden by 16.7% in the first quarter. Invesco Ltd. now owns 97,121 shares of the company’s stock valued at $18,911,000 after purchasing an additional 13,863 shares during the period. Institutional investors and hedge funds own 68.94% of the company’s stock.

Analyst Upgrades and Downgrades

MSGS has been the topic of several analyst reports. BTIG Research started coverage on shares of Madison Square Garden in a research note on Tuesday, October 7th. They set a “neutral” rating on the stock. Zacks Research raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Morgan Stanley boosted their price target on Madison Square Garden from $215.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 13th. Citigroup began coverage on Madison Square Garden in a research note on Tuesday, September 9th. They set a “buy” rating and a $285.00 price objective for the company. Finally, Wolfe Research restated an “outperform” rating on shares of Madison Square Garden in a report on Monday, November 3rd. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Madison Square Garden presently has a consensus rating of “Moderate Buy” and a consensus price target of $260.50.

Madison Square Garden Stock Up 1.4%

Shares of Madison Square Garden stock opened at $216.67 on Friday. The firm has a market cap of $5.20 billion, a P/E ratio of -221.09 and a beta of 0.77. The Madison Square Garden Company has a fifty-two week low of $173.26 and a fifty-two week high of $237.99. The business has a 50-day moving average price of $220.62 and a 200 day moving average price of $206.41.

Madison Square Garden (NYSE:MSGS) last released its earnings results on Friday, October 31st. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.67. The company had revenue of $39.45 million for the quarter, compared to the consensus estimate of $41.41 million. Madison Square Garden had a negative return on equity of 1.76% and a negative net margin of 2.31%.Madison Square Garden’s quarterly revenue was down 26.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.31) EPS. As a group, equities research analysts anticipate that The Madison Square Garden Company will post 0.73 earnings per share for the current year.

Madison Square Garden Profile

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.