Bank of New York Mellon Corp Has $20.26 Million Holdings in The Madison Square Garden Company (NYSE:MSGS)

Bank of New York Mellon Corp decreased its position in The Madison Square Garden Company (NYSE:MSGS - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 104,048 shares of the company's stock after selling 6,090 shares during the quarter. Bank of New York Mellon Corp owned 0.43% of Madison Square Garden worth $20,260,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in Madison Square Garden in the 4th quarter valued at $4,425,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Madison Square Garden by 28.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,983 shares of the company's stock worth $899,000 after purchasing an additional 892 shares during the period. Swiss National Bank lifted its stake in shares of Madison Square Garden by 1.0% in the fourth quarter. Swiss National Bank now owns 30,633 shares of the company's stock valued at $6,913,000 after purchasing an additional 300 shares during the period. Xponance Inc. lifted its stake in shares of Madison Square Garden by 8.4% in the fourth quarter. Xponance Inc. now owns 1,105 shares of the company's stock valued at $249,000 after purchasing an additional 86 shares during the period. Finally, Teacher Retirement System of Texas lifted its stake in shares of Madison Square Garden by 342.5% in the fourth quarter. Teacher Retirement System of Texas now owns 14,343 shares of the company's stock valued at $3,237,000 after purchasing an additional 11,102 shares during the period. Institutional investors and hedge funds own 68.94% of the company's stock.

Madison Square Garden Stock Performance

Shares of MSGS stock traded up $0.64 during mid-day trading on Tuesday, reaching $205.26. 148,907 shares of the company were exchanged, compared to its average volume of 126,713. The Madison Square Garden Company has a fifty-two week low of $173.26 and a fifty-two week high of $237.99. The company has a market capitalization of $4.93 billion, a P/E ratio of 977.47 and a beta of 0.79. The business's 50 day simple moving average is $197.88 and its 200 day simple moving average is $199.84.

Madison Square Garden (NYSE:MSGS - Get Free Report) last posted its earnings results on Friday, May 2nd. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.48 by ($2.07). The company had revenue of $424.20 million during the quarter, compared to the consensus estimate of $436.84 million. Madison Square Garden had a net margin of 0.45% and a negative return on equity of 1.76%. The business's quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.57 earnings per share. On average, analysts forecast that The Madison Square Garden Company will post 0.73 EPS for the current year.

Analysts Set New Price Targets

MSGS has been the topic of a number of research reports. Susquehanna initiated coverage on shares of Madison Square Garden in a research note on Monday, April 28th. They issued a "positive" rating and a $254.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Madison Square Garden from $240.00 to $230.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Morgan Stanley lowered their price objective on shares of Madison Square Garden from $235.00 to $215.00 and set an "equal weight" rating on the stock in a research note on Monday, May 5th. Finally, Guggenheim reissued a "buy" rating and issued a $314.00 price objective on shares of Madison Square Garden in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Madison Square Garden presently has an average rating of "Moderate Buy" and an average target price of $252.60.

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.