Levin Capital Strategies L.P. Has $250,000 Stock Position in The Madison Square Garden Company (NYSE:MSGS)

Key Points

• Levin Capital Strategies L.P. reduced its stake in The Madison Square Garden Company by 57.8%, selling 1,756 shares and retaining a total of 1,283 shares valued at $250,000.
• Several institutional investors have increased their stakes significantly, with T. Rowe Price raising its stake by 1,854% in the previous quarter, reaching a total of 498,607 shares worth over $112 million.
• Analysts offer mixed forecasts for Madison Square Garden, with Morgan Stanley lowering its price target to $215, while other firms set targets as high as $314, resulting in a consensus rating of "Moderate Buy."

Levin Capital Strategies L.P. cut its position in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) by 57.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,283 shares of the company's stock after selling 1,756 shares during the period. Levin Capital Strategies L.P.'s holdings in Madison Square Garden were worth $250,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of MSGS. LPL Financial LLC boosted its holdings in shares of Madison Square Garden by 12.0% during the 4th quarter. LPL Financial LLC now owns 2,272 shares of the company's stock worth $513,000 after buying an additional 244 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Madison Square Garden by 76.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 10,258 shares of the company's stock worth $2,315,000 after buying an additional 4,455 shares during the period. Franklin Resources Inc. boosted its holdings in Madison Square Garden by 8.4% in the 4th quarter. Franklin Resources Inc. now owns 108,205 shares of the company's stock valued at $24,420,000 after purchasing an additional 8,358 shares during the period. National Bank of Canada FI boosted its holdings in Madison Square Garden by 155.8% in the 4th quarter. National Bank of Canada FI now owns 25,427 shares of the company's stock valued at $5,738,000 after purchasing an additional 15,486 shares during the period. Finally, Headlands Technologies LLC boosted its holdings in Madison Square Garden by 1,016.7% in the 4th quarter. Headlands Technologies LLC now owns 268 shares of the company's stock valued at $60,000 after purchasing an additional 244 shares during the period. Institutional investors own 68.94% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Madison Square Garden from $240.00 to $230.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Susquehanna assumed coverage on shares of Madison Square Garden in a report on Monday, April 28th. They set a "positive" rating and a $254.00 price target for the company. Guggenheim reaffirmed a "buy" rating and set a $314.00 price target on shares of Madison Square Garden in a report on Tuesday, May 6th. Finally, Morgan Stanley cut their price target on shares of Madison Square Garden from $235.00 to $215.00 and set an "equal weight" rating for the company in a report on Monday, May 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $252.60.

Madison Square Garden Price Performance

MSGS stock traded down $2.54 during trading on Friday, reaching $199.42. 190,942 shares of the company were exchanged, compared to its average volume of 149,445. The company has a 50-day moving average of $200.71 and a two-hundred day moving average of $198.65. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of 949.67 and a beta of 0.79. The Madison Square Garden Company has a twelve month low of $173.26 and a twelve month high of $237.99.

About Madison Square Garden

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.