Marshall Wace LLP Trims Holdings in Madison Square Garden Co (NYSE:MSG)

Marshall Wace LLP decreased its stake in shares of Madison Square Garden Co (NYSE:MSG) by 74.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,194 shares of the company’s stock after selling 14,805 shares during the quarter. Marshall Wace LLP’s holdings in Madison Square Garden were worth $1,523,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MSG. Clarfeld Financial Advisors LLC purchased a new stake in Madison Square Garden during the fourth quarter worth $27,000. Citizens Financial Group Inc RI purchased a new position in Madison Square Garden during the first quarter valued at $29,000. Quadrant Capital Group LLC lifted its holdings in Madison Square Garden by 1,226.7% during the first quarter. Quadrant Capital Group LLC now owns 199 shares of the company’s stock valued at $57,000 after purchasing an additional 184 shares in the last quarter. QS Investors LLC acquired a new stake in shares of Madison Square Garden in the fourth quarter valued at about $134,000. Finally, Ffcm LLC raised its position in shares of Madison Square Garden by 229.9% in the fourth quarter. Ffcm LLC now owns 508 shares of the company’s stock valued at $136,000 after buying an additional 354 shares during the last quarter. Institutional investors and hedge funds own 72.83% of the company’s stock.

MSG stock traded down $1.87 during midday trading on Thursday, reaching $285.10. 92,120 shares of the company were exchanged, compared to its average volume of 174,167. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.03. Madison Square Garden Co has a 1-year low of $240.33 and a 1-year high of $325.96. The company’s 50-day moving average price is $288.56. The company has a market capitalization of $6.77 billion, a P/E ratio of 48.00 and a beta of 0.48.

Madison Square Garden (NYSE:MSG) last announced its earnings results on Wednesday, May 8th. The company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.10. The business had revenue of $517.19 million for the quarter, compared to analysts’ expectations of $525.06 million. Madison Square Garden had a net margin of 2.29% and a return on equity of 1.48%. The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 EPS. As a group, sell-side analysts predict that Madison Square Garden Co will post 1.13 EPS for the current year.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Hess Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. ValuEngine raised shares of Xylem from a “hold” rating to a “buy” rating in a research note on Friday, June 21st. Imperial Capital increased their target price on shares of PARKER DRILLING/SH PAR $ from $20.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Morgan Stanley lowered their price objective on shares of RPC from $12.00 to $9.50 and set an “underperform” rating for the company in a research note on Thursday, April 25th. Finally, TheStreet lowered shares of Select Medical from a “b-” rating to a “c+” rating in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Madison Square Garden currently has a consensus rating of “Buy” and an average price target of $353.40.

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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