Dimensional Fund Advisors LP Reduces Stock Holdings in The Madison Square Garden Company $MSGS

Key Points

• Dimensional Fund Advisors reduced its MSGS stake by 24.9% in the first quarter, selling 31,081 shares and retaining 93,720 shares worth approximately $30.1 million.
• MSGS shares traded at $396.44, up 3.0%, near their 12-month high of $411.73. Institutional investors collectively owned 68.94% of the stock.
• The company reported quarterly revenue of $432.2 million, slightly above expectations, but missed earnings estimates with a loss of $0.83 per share. Analysts’ consensus rating remains “Hold,” with an average price target of $442.40.

Dimensional Fund Advisors LP reduced its stake in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) by 24.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 93,720 shares of the company's stock after selling 31,081 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.39% of Madison Square Garden worth $30,122,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MSGS. Aster Capital Management DIFC Ltd bought a new position in shares of Madison Square Garden in the 4th quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Madison Square Garden by 67.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 122 shares of the company's stock valued at $32,000 after purchasing an additional 49 shares in the last quarter. SJS Investment Consulting Inc. grew its stake in Madison Square Garden by 488.2% in the first quarter. SJS Investment Consulting Inc. now owns 100 shares of the company's stock worth $32,000 after purchasing an additional 83 shares during the period. Global Retirement Partners LLC raised its holdings in Madison Square Garden by 1,150.0% in the fourth quarter. Global Retirement Partners LLC now owns 125 shares of the company's stock worth $32,000 after purchasing an additional 115 shares in the last quarter. Finally, Salomon & Ludwin LLC raised its holdings in Madison Square Garden by 33.1% in the fourth quarter. Salomon & Ludwin LLC now owns 157 shares of the company's stock worth $40,000 after purchasing an additional 39 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors.

Madison Square Garden Trading Up 3.0%

NYSE:MSGS opened at $396.44 on Wednesday. The company has a market cap of $9.55 billion, a PE ratio of -426.27 and a beta of 0.62. The company has a 50 day simple moving average of $386.34 and a two-hundred day simple moving average of $341.67. The Madison Square Garden Company has a 12 month low of $188.60 and a 12 month high of $411.73.

Madison Square Garden (NYSE:MSGS - Get Free Report) last announced its earnings results on Friday, May 8th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($1.39). The company had revenue of $432.20 million for the quarter, compared to the consensus estimate of $429.66 million. During the same period last year, the business earned ($0.59) EPS. The company's revenue for the quarter was up 1.9% compared to the same quarter last year. Research analysts forecast that The Madison Square Garden Company will post -0.06 earnings per share for the current year.

Analyst Ratings Changes

MSGS has been the subject of a number of recent research reports. Susquehanna lifted their price target on shares of Madison Square Garden from $429.00 to $430.00 and gave the company a "positive" rating in a research report on Tuesday, June 23rd. Zacks Research cut shares of Madison Square Garden from a "hold" rating to a "strong sell" rating in a report on Thursday, July 16th. Seaport Research Partners raised their target price on shares of Madison Square Garden from $430.00 to $435.00 and gave the company a "buy" rating in a research note on Wednesday, May 27th. Wall Street Zen upgraded shares of Madison Square Garden from a "sell" rating to a "hold" rating in a report on Saturday, July 18th. Finally, Guggenheim boosted their price target on Madison Square Garden from $470.00 to $522.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $442.40.

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.

Want to see what other hedge funds are holding MSGS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Madison Square Garden Company (NYSE:MSGS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source