The Madison Square Garden Company (NYSE:MSGS) Shares Sold by Boyar Asset Management Inc.

Boyar Asset Management Inc. decreased its position in The Madison Square Garden Company (NYSE:MSGS - Free Report) by 6.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,256 shares of the company's stock after selling 1,403 shares during the period. Madison Square Garden makes up 2.9% of Boyar Asset Management Inc.'s portfolio, making the stock its 8th largest position. Boyar Asset Management Inc. owned approximately 0.08% of Madison Square Garden worth $3,944,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MSGS. Vanguard Group Inc. boosted its stake in Madison Square Garden by 1.8% in the 4th 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 during the period. T. Rowe Price Investment Management Inc. boosted its stake in 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 worth $112,526,000 after purchasing an additional 473,090 shares during the period. The Manufacturers Life Insurance Company boosted its stake 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 worth $57,625,000 after purchasing an additional 36,799 shares during the period. Norges Bank acquired a new position in Madison Square Garden in the 4th quarter worth $54,052,000. Finally, Dimensional Fund Advisors LP boosted its stake in Madison Square Garden by 4.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 222,090 shares of the company's stock worth $50,124,000 after purchasing an additional 9,979 shares during the period. Institutional investors and hedge funds own 68.94% of the company's stock.

Analyst Upgrades and Downgrades

MSGS has been the topic of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of Madison Square Garden from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Susquehanna initiated coverage on shares of Madison Square Garden in a research report on Monday, April 28th. They set a "positive" rating and a $254.00 price target on the stock. Guggenheim reissued a "buy" rating and set a $314.00 price target on shares of Madison Square Garden in a research 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 on the stock in a research report on Monday, May 5th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $252.60.

Madison Square Garden Price Performance

NYSE:MSGS traded up $1.30 on Friday, hitting $208.02. 426,741 shares of the company's stock were exchanged, compared to its average volume of 121,024. The firm has a 50-day moving average price of $193.17 and a 200-day moving average price of $201.86. The Madison Square Garden Company has a 52 week low of $173.26 and a 52 week high of $237.99. The company has a market cap of $4.99 billion, a P/E ratio of 990.60 and a beta of 0.77.

Madison Square Garden (NYSE:MSGS - Get Free Report) last issued its earnings results on Friday, May 2nd. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($2.07). Madison Square Garden had a net margin of 0.45% and a negative return on equity of 1.76%. The firm had revenue of $424.20 million during the quarter, compared to analyst estimates of $436.84 million. During the same quarter last year, the business posted $1.57 earnings per share. The company's revenue for the quarter was down 1.3% on a year-over-year basis. On average, research analysts expect that The Madison Square Garden Company will post 0.73 earnings per share for the current fiscal year.

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.