Ariel Investments LLC Decreases Position in The Madison Square Garden Company $MSGS

Key Points

• Ariel Investments LLC has reduced its stake in The Madison Square Garden Company by 5.9%, holding 838,943 shares valued at approximately $163.36 million.
• Institutional investors currently own 68.94% of the company's stock, indicating strong institutional interest.
• Analysts have rated Madison Square Garden as a "Moderate Buy," with an average price target of $253.60, reflecting positive market sentiment.

Ariel Investments LLC decreased its holdings in The Madison Square Garden Company (NYSE:MSGS - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 838,943 shares of the company's stock after selling 52,686 shares during the quarter. Madison Square Garden accounts for approximately 1.9% of Ariel Investments LLC's investment portfolio, making the stock its 27th biggest holding. Ariel Investments LLC owned 3.49% of Madison Square Garden worth $163,359,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Gamco Investors INC. ET AL lifted its position in Madison Square Garden by 2.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 603,324 shares of the company's stock valued at $117,479,000 after acquiring an additional 14,669 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Madison Square Garden by 6.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 528,545 shares of the company's stock valued at $102,919,000 after acquiring an additional 29,938 shares in the last quarter. Victory Capital Management Inc. lifted its position in Madison Square Garden by 523.2% in the 1st quarter. Victory Capital Management Inc. now owns 347,800 shares of the company's stock valued at $67,724,000 after acquiring an additional 291,989 shares in the last quarter. GAMMA Investing LLC lifted its position in Madison Square Garden by 14,886.7% in the 1st quarter. GAMMA Investing LLC now owns 137,278 shares of the company's stock valued at $26,731,000 after acquiring an additional 136,362 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Madison Square Garden by 15.9% in the 1st quarter. Northern Trust Corp now owns 135,191 shares of the company's stock valued at $26,324,000 after acquiring an additional 18,529 shares in the last quarter. Institutional investors own 68.94% of the company's stock.

Madison Square Garden Stock Performance

NYSE:MSGS traded up $0.07 on Friday, hitting $196.16. The stock had a trading volume of 157,689 shares, compared to its average volume of 216,822. The stock has a market cap of $4.71 billion, a P/E ratio of -213.22 and a beta of 0.78. The Madison Square Garden Company has a 1 year low of $173.26 and a 1 year high of $237.99. The firm's fifty day simple moving average is $201.55 and its two-hundred day simple moving average is $196.24.

Madison Square Garden (NYSE:MSGS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.35. The firm had revenue of $203.96 million during the quarter, compared to analyst estimates of $151.00 million. Madison Square Garden had a negative net margin of 2.16% and a negative return on equity of 1.76%. The company's revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter last year, the business posted $1.06 EPS. Equities research analysts predict that The Madison Square Garden Company will post 0.73 EPS for the current year.

Analyst Ratings Changes

Separately, Morgan Stanley raised their price target on shares of Madison Square Garden from $215.00 to $220.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 13th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $253.60.

Madison Square Garden Company Profile

Madison Square Garden Sports Corp. operates as a professional sports company in the United States. The company owns and operates a portfolio of assets that consists of the New York Knickerbockers of the National Basketball Association (NBA) and the New York Rangers of the National Hockey League. Its other professional franchises include development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.