Rhumbline Advisers Sells 347 Shares of Madison Square Garden Co (MSG)

Rhumbline Advisers lessened its holdings in Madison Square Garden Co (NYSE:MSG) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,967 shares of the company’s stock after selling 347 shares during the period. Rhumbline Advisers’ holdings in Madison Square Garden were worth $5,981,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Aperio Group LLC lifted its stake in shares of Madison Square Garden by 3.2% in the 2nd quarter. Aperio Group LLC now owns 5,741 shares of the company’s stock worth $1,781,000 after purchasing an additional 177 shares during the period. Xact Kapitalforvaltning AB increased its holdings in Madison Square Garden by 7.8% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 2,772 shares of the company’s stock worth $874,000 after acquiring an additional 200 shares in the last quarter. Brown Advisory Inc. increased its holdings in Madison Square Garden by 6.7% in the 2nd quarter. Brown Advisory Inc. now owns 3,446 shares of the company’s stock worth $1,069,000 after acquiring an additional 215 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Madison Square Garden by 5.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 7,622 shares of the company’s stock worth $2,402,000 after acquiring an additional 365 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in Madison Square Garden in the 2nd quarter worth approximately $118,000. Hedge funds and other institutional investors own 69.86% of the company’s stock.

Madison Square Garden stock opened at $262.00 on Thursday. The company has a market capitalization of $6.20 billion, a P/E ratio of 44.11, a PEG ratio of 43.38 and a beta of 0.68. Madison Square Garden Co has a 12-month low of $205.22 and a 12-month high of $330.00. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Madison Square Garden (NYSE:MSG) last announced its quarterly earnings data on Thursday, November 1st. The company reported ($1.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.13) by $0.77. Madison Square Garden had a net margin of 7.86% and a return on equity of 0.27%. The business had revenue of $218.14 million during the quarter, compared to analyst estimates of $211.48 million. During the same period last year, the firm posted ($0.47) EPS. The company’s revenue was down 11.0% on a year-over-year basis. Analysts forecast that Madison Square Garden Co will post 0.24 EPS for the current year.

Several equities research analysts recently issued reports on the stock. Guggenheim increased their target price on shares of Madison Square Garden to $350.00 and gave the stock a “buy” rating in a report on Thursday, August 23rd. Imperial Capital assumed coverage on shares of Madison Square Garden in a report on Tuesday, August 21st. They issued an “outperform” rating and a $372.00 target price for the company. Zacks Investment Research raised shares of Madison Square Garden from a “sell” rating to a “hold” rating in a report on Wednesday, October 17th. Morgan Stanley increased their target price on shares of Madison Square Garden from $315.00 to $320.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 31st. Finally, Macquarie reissued a “buy” rating and issued a $356.00 target price on shares of Madison Square Garden in a report on Tuesday, October 30th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $342.67.

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Madison Square Garden Company 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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