Greystone Investment Management LLC Trims Position in Madison Square Garden Co (MSG)

Greystone Investment Management LLC decreased its stake in shares of Madison Square Garden Co (NYSE:MSG) by 46.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,734 shares of the company’s stock after selling 9,288 shares during the period. Madison Square Garden accounts for approximately 1.5% of Greystone Investment Management LLC’s holdings, making the stock its 29th biggest holding. Greystone Investment Management LLC’s holdings in Madison Square Garden were worth $3,385,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MSG. Partner Fund Management L.P. acquired a new position in Madison Square Garden during the 2nd quarter worth about $48,929,000. Millennium Management LLC lifted its position in Madison Square Garden by 78.5% during the 1st quarter. Millennium Management LLC now owns 218,369 shares of the company’s stock worth $53,675,000 after buying an additional 96,037 shares in the last quarter. Scout Investments Inc. acquired a new position in Madison Square Garden during the 3rd quarter worth about $18,377,000. Renaissance Technologies LLC lifted its position in Madison Square Garden by 13.2% during the 2nd quarter. Renaissance Technologies LLC now owns 436,199 shares of the company’s stock valued at $135,305,000 after purchasing an additional 50,999 shares during the period. Finally, Sei Investments Co. lifted its position in Madison Square Garden by 325.4% during the 2nd quarter. Sei Investments Co. now owns 54,341 shares of the company’s stock valued at $16,855,000 after purchasing an additional 41,566 shares during the period. Institutional investors and hedge funds own 70.42% of the company’s stock.

Shares of MSG stock traded down $6.20 on Thursday, reaching $285.96. The company had a trading volume of 247,700 shares, compared to its average volume of 211,533. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.85 and a quick ratio of 1.85. The stock has a market cap of $7.46 billion, a PE ratio of 48.91, a price-to-earnings-growth ratio of 17.34 and a beta of 0.36. Madison Square Garden Co has a 12 month low of $205.22 and a 12 month high of $330.00.

Madison Square Garden (NYSE:MSG) last announced its quarterly earnings results on Thursday, August 16th. The company reported ($1.94) EPS for the quarter, beating analysts’ consensus estimates of ($2.00) by $0.06. The company had revenue of $318.00 million during the quarter, compared to analysts’ expectations of $293.32 million. Madison Square Garden had a return on equity of 1.10% and a net margin of 9.08%. Madison Square Garden’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted ($3.58) EPS. As a group, research analysts anticipate that Madison Square Garden Co will post 0.71 earnings per share for the current year.

MSG has been the topic of a number of research reports. Imperial Capital initiated coverage on shares of Madison Square Garden in a research report on Tuesday, August 21st. They set an “outperform” rating and a $372.00 target price on the stock. Jefferies Financial Group upgraded shares of Madison Square Garden from a “hold” rating to a “buy” rating and upped their target price for the company from $233.00 to $350.00 in a research report on Thursday, June 28th. Zacks Investment Research upgraded shares of Madison Square Garden from a “sell” rating to a “hold” rating in a research report on Wednesday. ValuEngine upgraded shares of Madison Square Garden from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 28th. Finally, Morgan Stanley upped their target price on shares of Madison Square Garden from $260.00 to $315.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 1st. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Madison Square Garden has a consensus rating of “Buy” and a consensus target price of $322.17.

About Madison Square Garden

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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