Pullen Investment Management LLC Has $2.09 Million Stake in The Madison Square Garden Company (NYSE:MSGS)

Pullen Investment Management LLC increased its holdings in The Madison Square Garden Company (NYSE:MSGS - Free Report) by 44.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,744 shares of the company's stock after buying an additional 3,313 shares during the quarter. Madison Square Garden comprises 1.3% of Pullen Investment Management LLC's portfolio, making the stock its 19th largest holding. Pullen Investment Management LLC's holdings in Madison Square Garden were worth $2,092,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MSGS. Vanguard Group Inc. grew its stake in shares of Madison Square Garden by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 1,945,194 shares of the company's stock worth $438,991,000 after purchasing an additional 33,641 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Madison Square Garden by 1,854.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 498,607 shares of the company's stock worth $112,526,000 after purchasing an additional 473,090 shares during the period. The Manufacturers Life Insurance Company grew its position in Madison Square Garden by 16.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 255,339 shares of the company's stock valued at $57,625,000 after buying an additional 36,799 shares in the last quarter. Norges Bank acquired a new position in Madison Square Garden during the 4th quarter valued at about $54,052,000. Finally, Dimensional Fund Advisors LP increased its stake in Madison Square Garden by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 222,090 shares of the company's stock valued at $50,124,000 after buying an additional 9,979 shares during the period. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Price Performance

Shares of NYSE:MSGS traded down $3.92 on Tuesday, reaching $186.82. 196,525 shares of the company traded hands, compared to its average volume of 115,318. The stock has a market capitalization of $4.49 billion, a PE ratio of 889.66 and a beta of 0.77. The company's 50 day moving average is $191.17 and its 200-day moving average is $203.60. The Madison Square Garden Company has a fifty-two week low of $173.26 and a fifty-two week high of $237.99.

Madison Square Garden (NYSE:MSGS - Get Free Report) last announced 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). Madison Square Garden had a negative return on equity of 1.76% and a net margin of 0.45%. The company had revenue of $424.20 million for the quarter, compared to analyst estimates of $436.84 million. During the same period last year, the firm earned $1.57 earnings per share. The firm's revenue for the quarter was down 1.3% on a year-over-year basis. As a group, analysts expect that The Madison Square Garden Company will post 0.73 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MSGS. Morgan Stanley decreased their price objective 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. Macquarie lifted their price target on Madison Square Garden from $240.00 to $250.00 and gave the company an "outperform" rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. cut their price objective on Madison Square Garden from $240.00 to $230.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Guggenheim reaffirmed a "buy" rating and set a $314.00 target price on shares of Madison Square Garden in a report on Tuesday, May 6th. Finally, Susquehanna assumed coverage on shares of Madison Square Garden in a report on Monday, April 28th. They issued a "positive" rating and a $254.00 price target for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $252.60.

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.