The Madison Square Garden Company $MSGS Shares Acquired by Harbor Capital Advisors Inc.

Key Points

• Harbor Capital Advisors increased its stake in The Madison Square Garden Company by 46% in Q4, buying 6,041 shares to hold 19,162 shares worth about $4.96 million (roughly a 0.08% ownership).
• Insider sale: Director Charles P. Dolan sold 5,659 shares at an average price of $325.26 (≈$1.84 million), cutting his ownership to 435 shares—a 92.86% reduction.
• MSGS missed Q4 EPS estimates ($0.34 vs. $0.66) despite revenue rising 12.7% to $403.42 million; analysts’ consensus rating is a Hold with an average price target of $286.00.

Harbor Capital Advisors Inc. increased its position in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) by 46.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,162 shares of the company's stock after purchasing an additional 6,041 shares during the quarter. Harbor Capital Advisors Inc. owned 0.08% of Madison Square Garden worth $4,956,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Gamco Investors INC. ET AL boosted its position in shares of Madison Square Garden by 1.9% in the 2nd quarter. Gamco Investors INC. ET AL now owns 614,788 shares of the company's stock worth $128,460,000 after buying an additional 11,464 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Madison Square Garden by 0.4% during the 3rd quarter. Victory Capital Management Inc. now owns 455,042 shares of the company's stock valued at $103,295,000 after acquiring an additional 1,688 shares in the last quarter. Gabelli Funds LLC raised its position in Madison Square Garden by 0.6% during the third quarter. Gabelli Funds LLC now owns 390,685 shares of the company's stock worth $88,685,000 after acquiring an additional 2,370 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Madison Square Garden by 9.5% during the second quarter. The Manufacturers Life Insurance Company now owns 234,657 shares of the company's stock worth $49,032,000 after acquiring an additional 20,277 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Madison Square Garden in the second quarter valued at about $39,215,000. Institutional investors and hedge funds own 68.94% of the company's stock.

Insider Activity at Madison Square Garden

In related news, Director Charles P. Dolan sold 5,659 shares of the company's stock in a transaction on Friday, February 20th. The stock was sold at an average price of $325.26, for a total value of $1,840,646.34. Following the completion of the transaction, the director directly owned 435 shares in the company, valued at approximately $141,488.10. This represents a 92.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 19.07% of the stock is currently owned by corporate insiders.

Madison Square Garden Price Performance

NYSE:MSGS opened at $325.18 on Friday. The Madison Square Garden Company has a 1-year low of $173.26 and a 1-year high of $345.46. The firm has a 50 day simple moving average of $306.69 and a 200-day simple moving average of $260.19. The firm has a market cap of $7.83 billion, a PE ratio of -471.28 and a beta of 0.59.

Madison Square Garden (NYSE:MSGS - Get Free Report) last released its earnings results on Thursday, February 5th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.32). The business had revenue of $403.42 million for the quarter, compared to analysts' expectations of $394.58 million. During the same period in the prior year, the firm earned $0.05 earnings per share. The business's revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, sell-side analysts expect that The Madison Square Garden Company will post 0.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MSGS. Guggenheim reissued a "buy" rating on shares of Madison Square Garden in a research note on Thursday, February 5th. Wolfe Research lowered Madison Square Garden from an "outperform" rating to a "hold" rating in a research note on Monday, December 15th. Wall Street Zen raised Madison Square Garden from a "strong sell" rating to a "hold" rating in a research report on Saturday, February 14th. Weiss Ratings raised Madison Square Garden from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, March 27th. Finally, JPMorgan Chase & Co. upped their price objective on Madison Square Garden from $240.00 to $305.00 and gave the company an "overweight" rating in a research report on Friday, February 6th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Madison Square Garden presently has an average rating of "Hold" and a consensus price target of $286.00.

Madison Square Garden Company 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.

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