Mackenzie Financial Corp Sells 5,939 Shares of The Madison Square Garden Company $MSGS

Mackenzie Financial Corp cut its holdings in The Madison Square Garden Company (NYSE:MSGS) by 7.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 79,441 shares of the company’s stock after selling 5,939 shares during the quarter. Mackenzie Financial Corp’s holdings in Madison Square Garden were worth $16,599,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Gamco Investors INC. ET AL boosted its holdings in shares of Madison Square Garden by 2.5% in the first quarter. Gamco Investors INC. ET AL now owns 603,324 shares of the company’s stock valued at $117,479,000 after buying an additional 14,669 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Madison Square Garden by 6.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 528,545 shares of the company’s stock valued at $102,919,000 after acquiring an additional 29,938 shares in the last quarter. Greenhouse Funds LLLP boosted its stake 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. Norges Bank acquired a new position in Madison Square Garden in the 2nd quarter worth $39,215,000. Finally, Northern Trust Corp increased its holdings in Madison Square Garden by 15.9% during the 1st quarter. Northern Trust Corp now owns 135,191 shares of the company’s stock worth $26,324,000 after purchasing an additional 18,529 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Citigroup began coverage on Madison Square Garden in a research report on Tuesday, September 9th. They set a “buy” rating and a $285.00 price objective for the company. Morgan Stanley upped their price target on Madison Square Garden from $215.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 13th. Wolfe Research reaffirmed an “outperform” rating on shares of Madison Square Garden in a research note on Monday, November 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Madison Square Garden from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Madison Square Garden in a report on Tuesday, November 25th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.50.

Madison Square Garden Stock Down 0.9%

NYSE:MSGS opened at $226.02 on Tuesday. The Madison Square Garden Company has a twelve month low of $173.26 and a twelve month high of $237.99. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of -230.63 and a beta of 0.66. The stock’s 50 day moving average price is $221.79 and its two-hundred day moving average price is $207.80.

Madison Square Garden (NYSE:MSGS) last released its 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 during the quarter, compared to analysts’ expectations 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 firm’s revenue was down 26.0% on a year-over-year basis. During the same period last year, the business earned ($0.31) earnings per share. As a group, 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.