The Madison Square Garden Company $MSGS Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in The Madison Square Garden Company by 2.9%, now holding approximately 112,183 shares valued at $21.84 million.
• Several other institutional investors see growth potential, with T. Rowe Price growing its stake by 1,854% and GAMMA Investing LLC by 14,886.7% in the latest quarter.
• Analysts have mixed opinions on MSGS, with a consensus rating of "Moderate Buy" and an average price target of $253.60, compared to recent performance figures including a negative EPS of ($0.07) for the last quarter.

Charles Schwab Investment Management Inc. decreased its stake in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) by 2.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,183 shares of the company's stock after selling 3,347 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.47% of Madison Square Garden worth $21,844,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Madison Square Garden by 1,854.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 498,607 shares of the company's stock valued at $112,526,000 after acquiring an additional 473,090 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Madison Square Garden by 523.2% in the 1st quarter. Victory Capital Management Inc. now owns 347,800 shares of the company's stock valued at $67,724,000 after acquiring an additional 291,989 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Madison Square Garden by 14,886.7% in the 1st quarter. GAMMA Investing LLC now owns 137,278 shares of the company's stock valued at $26,731,000 after acquiring an additional 136,362 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of Madison Square Garden by 89.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 127,556 shares of the company's stock valued at $28,787,000 after acquiring an additional 60,112 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Madison Square Garden by 377.1% in the 4th quarter. First Trust Advisors LP now owns 57,879 shares of the company's stock valued at $13,062,000 after acquiring an additional 45,748 shares during the last quarter. Institutional investors and hedge funds own 68.94% of the company's stock.

Madison Square Garden Stock Up 0.1%

Shares of NYSE MSGS traded up $0.1890 during trading on Monday, hitting $198.8390. The company had a trading volume of 177,457 shares, compared to its average volume of 156,512. The stock has a fifty day simple moving average of $202.14 and a two-hundred day simple moving average of $196.99. The Madison Square Garden Company has a fifty-two week low of $173.26 and a fifty-two week high of $237.99. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of -216.13 and a beta of 0.79.

Madison Square Garden (NYSE:MSGS - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.35. Madison Square Garden had a negative net margin of 2.16% and a negative return on equity of 1.76%. The business had revenue of $203.96 million for the quarter, compared to analyst estimates of $151.00 million. During the same quarter last year, the business earned $1.06 earnings per share. The company's revenue for the quarter was down 10.3% compared to the same quarter last year. On average, analysts anticipate that The Madison Square Garden Company will post 0.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MSGS. Morgan Stanley upped their price objective on shares of Madison Square Garden from $215.00 to $220.00 and gave the company an "equal weight" rating in a report on Wednesday, August 13th. Guggenheim reaffirmed a "buy" rating and issued a $314.00 price objective on shares of Madison Square Garden in a report on Tuesday, May 6th. Susquehanna started coverage on shares of Madison Square Garden in a report on Monday, April 28th. They issued a "positive" rating and a $254.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased their target price on shares of Madison Square Garden from $240.00 to $230.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Madison Square Garden presently has an average rating of "Moderate Buy" and a consensus target price of $253.60.

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.