Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

The Madison Square Garden Co (MSG): Mason Capital Management Starts 8.14% Stake

Kenneth Mario Garschina’s Mason Capital Management disclosed today a new position in The Madison Square Garden Co (NASDAQ:MSG). According to a Schedule 13G filed with the Securities and Exchange Commission, the fund owns almost 5.18 million shares of Class A Common Stock, which represent about 8.14% of the company’s outstanding stock.

As we reported last week, John Thaler’s JAT Capital Management also seems bullish about The Madison Square Garden Co (NASDAQ:MSG). On September 24, the fund disclosed that it had upped its stake to 5.96 million shares of Class A Common Stock, up from 4.93 million shares held previously. This position, which has an activist nature, accounts for 9.36% of the company’s shares outstanding, and makes of JAT Capital Management the largest institutional shareholder in the company, amongst those we keep track of.

The Madison Square Garden Co (NASDAQ:MSG)

Other major funds betting on The Madison Square Garden Co (NASDAQ:MSG) are Christian Leone’s Luxor Capital Group and Mario Gabelli’s GAMCO Investors. According to their latest 13F filings, Luxor Capital holds approximately 4.87 million shares, worth more than $300 million, while GAMCO Investors owns 2.95 million shares, worth more than $184 million.

The Madison Square Garden Co (NASDAQ:MSG) is a $5 billion market cap company engaged in the sports, entertainment and media businesses. Its sporting division includes ownership of teams like New York Knicks and the New York Rangers. In addition, its media business contains the MSG Network, and its entertainment segment, the Madison Square Garden Arena, the Radio City Music Hall, and the Beacon Theatre, amongst others.

The company appointed, a few weeks ago, a new CFO and Executive Vice President, Sean Creamer, who had previously served as Arbitron Inc’s President. According to the management, the new CFO should help create value for the company and its shareholders, and explore new business opportunities. Most recently, The Madison Square Garden Co (NASDAQ:MSG) re-appointed Richard D. Parsons as a Board Director, and a man decided to sue the company arguing that he was ejected from a Knicks game for saying “Carmelo, you stink.”


Disclosure: Javier Hasse holds no positions in any stocks or funds mentioned

Warren Buffett and BillionairesFree Report: Warren Buffett and 12 Billionaires Are Crazy About These 7 Stocks

Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!