Ameriprise Financial Inc. Cuts Holdings in The Madison Square Garden Company (MSG)

Ameriprise Financial Inc. cut its stake in The Madison Square Garden Company (NYSE:MSG) by 3.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,589 shares of the company’s stock after selling 2,015 shares during the period. Ameriprise Financial Inc. owned approximately 0.24% of The Madison Square Garden worth $12,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of The Madison Square Garden by 8.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 712 shares of the company’s stock valued at $140,000 after purchasing an additional 58 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of The Madison Square Garden by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 751 shares of the company’s stock valued at $148,000 after purchasing an additional 40 shares in the last quarter. Maverick Capital Ltd. purchased a new stake in shares of The Madison Square Garden in the second quarter valued at approximately $176,000. Investment House LLC purchased a new stake in shares of The Madison Square Garden in the third quarter valued at approximately $203,000. Finally, CAPROCK Group Inc. purchased a new stake in shares of The Madison Square Garden in the third quarter valued at approximately $221,000. Institutional investors and hedge funds own 71.28% of the company’s stock.

A number of research firms have recently issued reports on MSG. BTIG Research set a $260.00 price target on The Madison Square Garden and gave the company a “buy” rating in a research report on Monday, September 11th. ValuEngine lowered The Madison Square Garden from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Loop Capital upped their price target on The Madison Square Garden from $266.00 to $268.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Zacks Investment Research lowered The Madison Square Garden from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Finally, Morgan Stanley lowered The Madison Square Garden from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $218.50 to $245.00 in a research report on Tuesday, December 5th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The Madison Square Garden currently has a consensus rating of “Hold” and an average price target of $217.78.

The Madison Square Garden Company (NYSE MSG) opened at $210.13 on Monday. The Madison Square Garden Company has a twelve month low of $166.86 and a twelve month high of $231.44. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.92 and a quick ratio of 1.92.

The Madison Square Garden (NYSE:MSG) last released its quarterly earnings data on Friday, November 3rd. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.18. The Madison Square Garden had a negative return on equity of 1.75% and a negative net margin of 4.00%. The firm had revenue of $245.04 million for the quarter, compared to analysts’ expectations of $237.06 million. During the same period in the prior year, the firm posted ($1.19) earnings per share. The firm’s quarterly revenue was up 34.9% on a year-over-year basis. research analysts anticipate that The Madison Square Garden Company will post 0.66 EPS for the current year.

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The Madison Square Garden Company Profile

The Madison Square Garden Company is a holding company, which is engaged in live experiences consisting of celebrated venues, sports teams, and entertainment productions. The Company operates in two segments, which include MSG Entertainment and MSG Sports. The MSG Sports segment includes the Company’s professional sports franchises, which include the New York Knicks (the Knicks) of the National Basketball Association (the NBA), the New York Rangers (the Rangers) of the National Hockey League (the NHL), the New York Liberty (the Liberty) of the Women’s National Basketball Association (the WNBA), the Hartford Wolf Pack of the American Hockey League (the AHL), which is the primary player development team for the Rangers, and the Westchester Knicks, an NBA Development League team.

Institutional Ownership by Quarter for The Madison Square Garden (NYSE:MSG)

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