8,784 Shares in The Madison Square Garden Company $MSGS Acquired by Robertson Stephens Wealth Management LLC

Key Points

• Robertson Stephens Wealth Management bought a new position of 8,784 shares (~$2.27M) in The Madison Square Garden Company in Q4; institutional investors now own about 68.94% of the stock while insiders hold 19.07% after director Charles P. Dolan sold 5,659 shares.
• Analysts are mixed — several firms recently raised price targets (Seaport to $430, Guggenheim to $401, JPMorgan to $305), but the consensus rating remains a Hold with an average target of $333.80 (3 Buy, 6 Hold).
• MSG reported Q4 EPS of $0.34, missing estimates of $0.66 while revenue rose to $403.4M; the stock trades around $340.72 with a market cap of $8.2B and a deeply negative P/E.

Robertson Stephens Wealth Management LLC bought a new position in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,784 shares of the company's stock, valued at approximately $2,272,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MSGS. Amundi lifted its stake in Madison Square Garden by 4.7% in the first quarter. Amundi now owns 5,643 shares of the company's stock valued at $1,091,000 after buying an additional 252 shares during the last quarter. Millennium Management LLC lifted its stake in Madison Square Garden by 8.0% in the first quarter. Millennium Management LLC now owns 27,147 shares of the company's stock valued at $5,286,000 after buying an additional 2,006 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Madison Square Garden by 28.2% in the first quarter. Goldman Sachs Group Inc. now owns 24,807 shares of the company's stock valued at $4,830,000 after buying an additional 5,452 shares during the last quarter. United Services Automobile Association purchased a new stake in Madison Square Garden in the first quarter valued at approximately $210,000. Finally, Empowered Funds LLC lifted its stake in Madison Square Garden by 10.8% in the first quarter. Empowered Funds LLC now owns 2,055 shares of the company's stock valued at $400,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 68.94% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MSGS shares. Seaport Research Partners raised Madison Square Garden from a "neutral" rating to a "buy" rating and set a $430.00 target price on the stock in a report on Friday, April 10th. Guggenheim boosted their price target on shares of Madison Square Garden from $355.00 to $401.00 and gave the stock a "buy" rating in a research note on Tuesday, April 21st. Citigroup lowered shares of Madison Square Garden from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $337.00 to $355.00 in a research note on Thursday, April 23rd. Wall Street Zen upgraded shares of Madison Square Garden from a "strong sell" rating to a "hold" rating in a research note on Saturday, February 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Madison Square Garden from $240.00 to $305.00 and gave the stock an "overweight" rating in a research note on Friday, February 6th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $333.80.

Madison Square Garden Stock Performance

NYSE:MSGS opened at $340.72 on Friday. The stock has a fifty day moving average price of $322.96 and a two-hundred day moving average price of $275.11. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of -493.80 and a beta of 0.59. The Madison Square Garden Company has a 1 year low of $184.63 and a 1 year high of $345.50.

Madison Square Garden (NYSE:MSGS - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.32). The business had revenue of $403.42 million during the quarter, compared to analysts' expectations of $394.58 million. The business's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the firm earned $0.05 EPS. On average, analysts predict that The Madison Square Garden Company will post -0.34 EPS for the current year.

Insider Transactions at Madison Square Garden

In other Madison Square Garden news, Director Charles P. Dolan sold 5,659 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $325.26, for a total value of $1,840,646.34. Following the completion of the transaction, the director owned 435 shares in the company, valued at approximately $141,488.10. This represents a 92.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 19.07% of the company's stock.

Madison Square Garden Profile

Madison Square Garden Sports Corp NYSE: MSGS is a leading sports and entertainment holding company focused on professional sports franchises and related media assets. The company owns and operates teams such as the NBA's New York Knicks, the NHL's New York Rangers and the WNBA's New York Liberty. Through these flagship franchises, MSG Sports offers a range of products and services including ticketing, premium seating and sponsorship opportunities, targeting fans in the New York metropolitan area and beyond.

In addition to team operations, Madison Square Garden Sports Corp holds a majority stake in MSG Networks, a regional cable network that broadcasts live sporting events, news and original programming.

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