Cutting position of Madison Square Garden Co (MSG) by Ariel Investments LLC



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Other large investors have also modified their holdings in the company. Nordea Investment Management AB increased its stake in Madison Square Garden shares by 1.8% in the third quarter. Nordea Investment Management AB now owns 80,279 shares of the company worth $ 13,600,000 after buying 1,390 additional shares during the period. First Eagle Investment Management LLC increased its stake in Madison Square Garden shares by 10.6% in the third quarter. First Eagle Investment Management LLC now owns 1,030,277 shares of the company's stock worth $ 174,539,000 after buying 99,071 additional shares during the period. BlackRock Fund Advisors raised its stake in Madison Square Garden shares by 3.2% in the third quarter. BlackRock Fund Advisors now owns 187,916 shares of the company's stock worth $ 31,835,000 after buying another 5,759 shares during the period. BlackRock Group LTD increased its stake in Madison Square Garden shares by 2.8% in the third quarter. BlackRock Group LTD now owns 12,714 shares of the company worth $ 2,154,000 after buying 351 additional shares during the period. Finally, Pacer Advisors Inc. increased its stake in Madison Square Garden shares by 9.3% in the third quarter. Pacer Advisors Inc. now owns 1,983 shares of the company's stock worth $ 336,000 after buying 168 additional shares during the period. Hedge funds and other institutional investors hold 86.31% of the company's shares.

Ariel Investments LLC lowered its position in shares of Madison Square Garden Co (NYSE: MSG) by 5.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund held 433,379 shares of the company after selling 23,446 shares during the period. Ariel Investments LLC owned 1.81% of Madison Square Garden with a value of $ 86,551,000 at the end of the most recent quarter.

Shares of Madison Square Garden Co (NYSE: MSG) fell 0.32% on Thursday, reaching $ 194.54. The share had a trading volume of 82,416 shares. Madison Square Garden Co has a minimum of 1 year of $ 160.96 and a maximum of 1 year of $ 206.60. The stock market capitalization of the shares is $ 4.58 billion. The company's 50-day moving average is $ 199.75 and its 200-day moving average is $ 184.52.

MSG has been the subject of several recent badyst reports. Morgan Stanley improved Madison Square Garden from an "equal weight" rating to an "overweight" rating and set a price target of $ 210.00 for the company in a research note on Sunday, January 29. They noticed that the move was a valuation call. Bank of America Corp began coverage at Madison Square Garden in a research note on Tuesday, January 31. They established a "purchase" rating for the company. Zacks Investment Research improved Madison Square Garden from a "suspension" rating to a "buy" rating and set a target price of $ 197.00 for the company in a research report on Thursday, February 2. Jefferies Group LLC reiterated a "suspension" rating and issued a target price of $ 185.00 on shares of Madison Square Garden in a research report on Monday, February 6. Finally, Macquarie reiterated a "suspension" rating and issued a target price of $ 182.00 on Madison Square Garden shares in a research report on Monday, February 6. One badyst has rated the stock with a sale rating, five have given a suspension rating and six have granted a purchase rating to the share. Madison Square Garden has an average "Hold" rating and an average price target of $ 196.40. In related news, SVP Joseph F. Yospe sold 1,500 shares of the company in a transaction on Friday, March 10. The stock was sold at an average price of $ 204.17, for a total transaction of $ 306,255.00. After the transaction, the senior vice president is now the direct owner of 7,433 shares of the company, valued at $ 1,517,595.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available in this hyperlink. Insiders own 18.64% of the company's shares.

Company Profile Madison Square Garden The company Madison Square Garden Company is a holding company that participates in live experiences consisting of famous 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 (Knicks) of the National Basketball Association (NBA), the New York Rangers (Rangers) of the National Hockey League (NHL), the New York Liberty (Liberty) of the National Women's Basketball Association (WNBA), the Hartford Wolf Pack of the American Hockey League (AHL), which is the Rangers' main player development team, and Westchester Knicks, a NBA Development League team.

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