Cowen Inc. lessened its holdings in shares of Madison Square Garden Co (NYSE:MSG) by 81.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,419 shares of the company’s stock after selling 19,220 shares during the period. Cowen Inc.’s holdings in Madison Square Garden were worth $1,371,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Partner Fund Management L.P. acquired a new position in shares of Madison Square Garden during the second quarter valued at approximately $48,929,000. Scopus Asset Management L.P. increased its stake in shares of Madison Square Garden by 65.9% during the first quarter. Scopus Asset Management L.P. now owns 365,000 shares of the company’s stock valued at $89,717,000 after acquiring an additional 145,000 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Madison Square Garden by 170.2% during the first quarter. JPMorgan Chase & Co. now owns 155,002 shares of the company’s stock valued at $38,100,000 after acquiring an additional 97,644 shares during the period. Millennium Management LLC increased its stake in shares of Madison Square Garden by 78.5% during the first quarter. Millennium Management LLC now owns 218,369 shares of the company’s stock valued at $53,675,000 after acquiring an additional 96,037 shares during the period. Finally, Atalan Capital Partners LP increased its stake in shares of Madison Square Garden by 77.4% during the first quarter. Atalan Capital Partners LP now owns 173,003 shares of the company’s stock valued at $42,524,000 after acquiring an additional 75,503 shares during the period. 70.45% of the stock is currently owned by institutional investors.

Madison Square Garden stock opened at $304.43 on Tuesday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $7.37 billion, a price-to-earnings ratio of 51.37, a price-to-earnings-growth ratio of 17.14 and a beta of 0.37. Madison Square Garden Co has a 1 year low of $205.22 and a 1 year high of $330.00.

Madison Square Garden (NYSE:MSG) last posted its quarterly earnings results on Thursday, August 16th. The company reported ($1.94) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.00) by $0.06. The firm had revenue of $318.00 million for the quarter, compared to analyst estimates of $293.32 million. Madison Square Garden had a net margin of 9.08% and a return on equity of 1.10%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($3.58) earnings per share. sell-side analysts predict that Madison Square Garden Co will post 0.71 earnings per share for the current year.

A number of research firms recently commented on MSG. Jefferies Financial Group upgraded shares of Madison Square Garden from a “hold” rating to a “buy” rating and raised their price objective for the company from $233.00 to $350.00 in a research note on Thursday, June 28th. ValuEngine upgraded shares of Madison Square Garden from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 28th. Macquarie upgraded shares of Madison Square Garden from a “neutral” rating to an “outperform” rating in a research note on Friday, June 29th. Guggenheim raised their price objective on shares of Madison Square Garden to $350.00 and gave the company a “buy” rating in a research note on Thursday, August 23rd. Finally, Morgan Stanley raised their price objective on shares of Madison Square Garden from $260.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 1st. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $322.17.

Madison Square Garden Profile

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.

Read More: Price to Earnings Ratio (PE)

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

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