Selz Capital LLC trimmed its position in shares of Madison Square Garden Co (NYSE:MSG) by 18.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,080 shares of the company’s stock after selling 7,304 shares during the period. Madison Square Garden makes up about 2.1% of Selz Capital LLC’s holdings, making the stock its 15th biggest holding. Selz Capital LLC’s holdings in Madison Square Garden were worth $8,453,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc acquired a new stake in Madison Square Garden in the 2nd quarter valued at $30,000. Advisory Services Network LLC increased its holdings in Madison Square Garden by 850.0% in the 2nd quarter. Advisory Services Network LLC now owns 171 shares of the company’s stock valued at $48,000 after purchasing an additional 153 shares in the last quarter. Trust Co. of Vermont acquired a new stake in Madison Square Garden in the 2nd quarter valued at $49,000. Seeyond increased its holdings in Madison Square Garden by 105.4% in the 2nd quarter. Seeyond now owns 267 shares of the company’s stock valued at $75,000 after purchasing an additional 137 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in Madison Square Garden by 87.6% in the 2nd quarter. Parallel Advisors LLC now owns 362 shares of the company’s stock valued at $101,000 after purchasing an additional 169 shares in the last quarter. Institutional investors and hedge funds own 73.10% of the company’s stock.
Shares of Madison Square Garden stock traded up $2.03 during trading hours on Friday, hitting $265.58. 3,336 shares of the company’s stock traded hands, compared to its average volume of 188,214. The stock has a 50 day simple moving average of $260.34 and a 200-day simple moving average of $285.76. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.02. The company has a market cap of $6.23 billion, a PE ratio of 553.83 and a beta of 0.55. Madison Square Garden Co has a twelve month low of $240.33 and a twelve month high of $315.95.
Madison Square Garden (NYSE:MSG) last announced its earnings results on Tuesday, August 20th. The company reported ($3.08) earnings per share for the quarter, missing the consensus estimate of ($2.34) by ($0.74). The business had revenue of $263.56 million for the quarter, compared to analyst estimates of $270.09 million. Madison Square Garden had a net margin of 0.70% and a return on equity of 0.43%. The firm’s revenue was down 17.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.94) earnings per share. As a group, equities research analysts predict that Madison Square Garden Co will post 0.55 EPS for the current year.
Several brokerages recently issued reports on MSG. ValuEngine upgraded Madison Square Garden from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Guggenheim set a $350.00 price target on Madison Square Garden and gave the company a “buy” rating in a report on Wednesday, August 21st. Morgan Stanley lowered their price target on Madison Square Garden from $340.00 to $320.00 and set an “equal weight” rating for the company in a report on Thursday, August 22nd. Finally, Imperial Capital lowered their price target on Madison Square Garden from $377.00 to $362.00 and set an “outperform” rating for the company in a report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $346.60.
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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