Madison Square Garden Co (MSG) Shares Bought by CI Investments Inc.

CI Investments Inc. raised its position in shares of Madison Square Garden Co (NYSE:MSG) by 14.6% in the third quarter, HoldingsChannel reports. The firm owned 1,570 shares of the company’s stock after acquiring an additional 200 shares during the period. CI Investments Inc.’s holdings in Madison Square Garden were worth $495,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MSG. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in Madison Square Garden during the 2nd quarter valued at $118,000. Sageworth Trust Co raised its position in Madison Square Garden by 1,257.5% during the 3rd quarter. Sageworth Trust Co now owns 543 shares of the company’s stock valued at $171,000 after purchasing an additional 503 shares in the last quarter. Massey Quick Simon & CO. LLC bought a new stake in Madison Square Garden during the 2nd quarter valued at $206,000. BNP Paribas Arbitrage SA raised its position in Madison Square Garden by 837.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 759 shares of the company’s stock valued at $235,000 after purchasing an additional 678 shares in the last quarter. Finally, Comerica Bank bought a new position in shares of Madison Square Garden in the 2nd quarter worth $237,000. 70.02% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently commented on the company. Macquarie reissued a “buy” rating and issued a $356.00 price target on shares of Madison Square Garden in a research report on Tuesday, October 30th. Guggenheim boosted their price target on Madison Square Garden to $350.00 and gave the stock a “buy” rating in a research report on Thursday, August 23rd. Morgan Stanley boosted their price target on Madison Square Garden from $260.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 1st. Zacks Investment Research raised Madison Square Garden from a “sell” rating to a “hold” rating in a research report on Wednesday, October 17th. Finally, Imperial Capital assumed coverage on Madison Square Garden in a research report on Tuesday, August 21st. They issued an “outperform” rating and a $372.00 price target for the company. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $344.33.

MSG opened at $261.13 on Friday. The firm has a market capitalization of $6.15 billion, a PE ratio of 43.96, a P/E/G ratio of 24.20 and a beta of 0.70. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.72. Madison Square Garden Co has a 12 month low of $205.22 and a 12 month high of $330.00.

Madison Square Garden (NYSE:MSG) last released its quarterly earnings results on Thursday, November 1st. The company reported ($1.36) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.13) by $0.77. The firm had revenue of $218.14 million during the quarter, compared to analyst estimates of $211.48 million. Madison Square Garden had a return on equity of 0.27% and a net margin of 7.86%. The business’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.47) EPS. Research analysts expect that Madison Square Garden Co will post 0.42 earnings per share for the current year.

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About Madison Square Garden

The Madison Square Garden Company, together with its subsidiaries, engages in live sports and entertainment businesses in the United States. The company operates in two segments, MSG Sports and MSG Entertainment. The MSG Sports segment owns and operates professional sports franchises; and promotes, produces, and/or presents an array of other live sporting events, including professional boxing, college basketball, college hockey, professional bull riding, mixed martial arts, esports, tennis, and college wrestling.

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

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