Stocks: Madison Square Garden Co (MSG) Shares Sold by Bbva Compass Bancshares Inc.

Stocks: Madison Square Garden Co (MSG) Shares Sold by Bbva Compass Bancshares Inc.

Bbva Compass Bancshares Inc. reduced its position in Madison Square Garden Co (NYSE:MSG) by 27.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,463 shares of the company’s stock after selling 549 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Madison Square Garden were worth $292,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the company. First Trust Advisors LP raised its position in shares of Madison Square Garden by 14.7% in the first quarter. First Trust Advisors LP now owns 16,279 shares of the company’s stock worth $3,251,000 after buying an additional 2,085 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Madison Square Garden by 1.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 25,276 shares of the company’s stock worth $5,048,000 after buying an additional 358 shares in the last quarter. ING Groep NV purchased a new position in shares of Madison Square Garden during the first quarter worth approximately $8,133,000. Russell Investments Group Ltd. raised its position in shares of Madison Square Garden by 70.0% in the first quarter. Russell Investments Group Ltd. now owns 68,635 shares of the company’s stock worth $13,705,000 after buying an additional 28,273 shares in the last quarter. Finally, Greystone Investment Management LLC raised its position in shares of Madison Square Garden by 17.0% in the first quarter. Greystone Investment Management LLC now owns 22,601 shares of the company’s stock worth $4,514,000 after buying an additional 3,286 shares in the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

Shares of Madison Square Garden Co (NYSE:MSG) traded down 0.43% during midday trading on Friday, hitting $201.63. 28,845 shares of the stock were exchanged. The firm’s market cap is $4.75 billion. The stock’s 50 day moving average is $199.76 and its 200 day moving average is $182.00. Madison Square Garden Co has a 12-month low of $156.60 and a 12-month high of $206.60.

Madison Square Garden (NYSE:MSG) last announced its quarterly earnings results on Thursday, May 4th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by $0.33. Madison Square Garden had a negative net margin of 7.63% and a negative return on equity of 2.55%. The firm had revenue of $386 million for the quarter, compared to the consensus estimate of $365.57 million. During the same period in the prior year, the business earned ($2.47) earnings per share. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities research analysts forecast that Madison Square Garden Co will post ($0.81) earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on MSG. Zacks Investment Research lowered shares of Madison Square Garden from a “buy” rating to a “hold” rating in a research note on Tuesday. Citigroup Inc cut their target price on shares of Madison Square Garden from $102.00 to $93.00 and set a “buy” rating on the stock in a research note on Monday. Jefferies Group LLC restated a “hold” rating and issued a $185.00 target price on shares of Madison Square Garden in a research note on Friday, May 5th. Bank of America Corp began coverage on shares of Madison Square Garden in a research note on Tuesday, May 2nd. They issued a “buy” rating and a $243.00 target price on the stock. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $245.00 target price on shares of Madison Square Garden in a research note on Thursday, April 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $196.40.

In related news, SVP Joseph F. Yospe sold 1,500 shares of Madison Square Garden stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $204.17, for a total transaction of $306,255.00. Following the completion of the transaction, the senior vice president now directly owns 7,433 shares of the company’s stock, valued at approximately $1,517,595.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 18.64% of the company’s stock.

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.

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