CI Investments Inc. decreased its position in Madison Square Garden Co (NYSE:MSG) by 55.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,270 shares of the company’s stock after selling 2,800 shares during the quarter. CI Investments Inc.’s holdings in Madison Square Garden were worth $479,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. increased its holdings in Madison Square Garden by 78.9% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 592 shares of the company’s stock valued at $127,000 after buying an additional 261 shares during the period. Cerebellum GP LLC acquired a new stake in shares of Madison Square Garden in the 4th quarter valued at $127,000. The Manufacturers Life Insurance Company boosted its stake in shares of Madison Square Garden by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 751 shares of the company’s stock valued at $148,000 after purchasing an additional 40 shares in the last quarter. Investment House LLC acquired a new stake in shares of Madison Square Garden in the 3rd quarter valued at $203,000. Finally, Bluestein R H & Co. acquired a new stake in shares of Madison Square Garden in the 3rd quarter valued at $214,000. 69.05% of the stock is currently owned by institutional investors.
Shares of Madison Square Garden Co (MSG) traded up $4.05 during mid-day trading on Wednesday, hitting $214.08. The stock had a trading volume of 254,292 shares, compared to its average volume of 193,732. Madison Square Garden Co has a one year low of $173.56 and a one year high of $231.44. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.04. The company has a market cap of $4,916.87, a PE ratio of 67.31 and a beta of 0.99.
Madison Square Garden (NYSE:MSG) last posted its earnings results on Friday, February 2nd. The company reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $1.32. Madison Square Garden had a negative return on equity of 1.00% and a net margin of 5.21%. The business had revenue of $536.30 million during the quarter, compared to analysts’ expectations of $523.45 million. During the same period in the prior year, the business earned $2.39 EPS. Madison Square Garden’s revenue for the quarter was up 20.5% compared to the same quarter last year. analysts anticipate that Madison Square Garden Co will post 0.75 EPS for the current year.
MSG has been the topic of several research reports. Zacks Investment Research downgraded shares of Madison Square Garden from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Jefferies Group reiterated a “hold” rating and set a $200.00 price target on shares of Madison Square Garden in a research report on Tuesday, October 24th. Loop Capital upped their price target on shares of Madison Square Garden from $266.00 to $268.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. ValuEngine downgraded shares of Madison Square Garden from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Finally, Morgan Stanley downgraded shares of Madison Square Garden from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $218.50 to $245.00 in a research report on Tuesday, December 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Madison Square Garden currently has a consensus rating of “Hold” and a consensus target price of $223.63.
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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.
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