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. reduced its holdings in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) by 2.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,183 shares of the company's stock after selling 3,347 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.47% of Madison Square Garden worth $21,844,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MSGS. Putney Financial Group LLC purchased a new position in shares of Madison Square Garden in the fourth quarter valued at $28,000. Heck Capital Advisors LLC purchased a new position in shares of Madison Square Garden in the fourth quarter valued at $43,000. Kapitalo Investimentos Ltda purchased a new position in shares of Madison Square Garden in the fourth quarter valued at $92,000. Obermeyer Wealth Partners purchased a new position in shares of Madison Square Garden in the fourth quarter valued at $202,000. Finally, Cetera Investment Advisers purchased a new position in shares of Madison Square Garden in the fourth quarter valued at $203,000. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MSGS. 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. Morgan Stanley increased 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 research note on Wednesday, August 13th. Finally, Guggenheim reiterated a "buy" rating and set a $314.00 price objective on shares of Madison Square Garden in a research note on Tuesday, May 6th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $253.60.

Madison Square Garden Stock Down 0.2%

Shares of NYSE:MSGS traded down $0.35 on Wednesday, reaching $196.64. 139,572 shares of the company's stock were exchanged, compared to its average volume of 210,383. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of -213.74 and a beta of 0.79. The Madison Square Garden Company has a fifty-two week low of $173.26 and a fifty-two week high of $237.99. The business's 50-day moving average is $202.62 and its two-hundred day moving average is $196.94.

Madison Square Garden (NYSE:MSGS - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates of ($0.42) by $0.35. The company had revenue of $203.96 million for the quarter, compared to analysts' expectations of $151.00 million. Madison Square Garden had a negative net margin of 2.16% and a negative return on equity of 1.76%. The firm's revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.06 earnings per share. Analysts predict that The Madison Square Garden Company will post 0.73 earnings per share for the current fiscal year.

Madison Square Garden 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.