Gluskin Sheff & Assoc Inc. Acquires 21,857 Shares of The Madison Square Garden Company (MSG)

Gluskin Sheff & Assoc Inc. increased its holdings in shares of The Madison Square Garden Company (NYSE:MSG) by 5.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 397,128 shares of the company’s stock after buying an additional 21,857 shares during the period. The Madison Square Garden accounts for about 7.2% of Gluskin Sheff & Assoc Inc.’s investment portfolio, making the stock its biggest holding. Gluskin Sheff & Assoc Inc. owned approximately 2.09% of The Madison Square Garden worth $78,195,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MSG. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in The Madison Square Garden by 8.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 712 shares of the company’s stock valued at $140,000 after purchasing an additional 58 shares during the period. Westside Investment Management Inc. grew its holdings in The Madison Square Garden by 137.3% during the first quarter. Westside Investment Management Inc. now owns 719 shares of the company’s stock valued at $141,000 after purchasing an additional 416 shares during the period. CGOV Asset Management acquired a new position in The Madison Square Garden during the first quarter valued at approximately $266,000. South State Corp acquired a new position in The Madison Square Garden during the second quarter valued at approximately $203,000. Finally, CIBC World Markets Inc. acquired a new position in The Madison Square Garden during the first quarter valued at approximately $209,000. 87.71% of the stock is owned by institutional investors and hedge funds.

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MSG has been the subject of a number of analyst reports. BTIG Research set a $260.00 price objective on shares of The Madison Square Garden and gave the company a “buy” rating in a report on Monday, September 11th. Zacks Investment Research cut shares of The Madison Square Garden from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 18th. ValuEngine upgraded shares of The Madison Square Garden from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Jefferies Group LLC boosted their price objective on shares of The Madison Square Garden from $185.00 to $200.00 and gave the company a “hold” rating in a report on Friday, August 18th. Finally, Morgan Stanley restated an “overweight” rating and set a $245.00 price objective (up previously from $215.00) on shares of The Madison Square Garden in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. The Madison Square Garden currently has a consensus rating of “Hold” and an average price target of $204.67.

The Madison Square Garden Company (MSG) traded up 0.860% on Wednesday, hitting $216.355. 16,941 shares of the stock traded hands. The stock has a 50-day moving average price of $216.35 and a 200 day moving average price of $203.65. The company’s market cap is $5.09 billion. The Madison Square Garden Company has a 1-year low of $160.96 and a 1-year high of $226.95.

The Madison Square Garden (NYSE:MSG) last announced its quarterly earnings data on Thursday, August 17th. The company reported ($3.58) EPS for the quarter, missing the consensus estimate of ($1.10) by ($2.48). The company had revenue of $305.60 million for the quarter, compared to analyst estimates of $279.19 million. The Madison Square Garden had a negative return on equity of 2.43% and a negative net margin of 5.52%. The business’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same period last year, the business earned ($2.39) EPS. On average, analysts anticipate that The Madison Square Garden Company will post $0.71 EPS for the current fiscal year.

The 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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Institutional Ownership by Quarter for The Madison Square Garden (NYSE:MSG)

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