Banque Pictet & Cie SA Takes $467,000 Position in The Madison Square Garden Company (NYSE:MSGS)

Banque Pictet & Cie SA bought a new stake in The Madison Square Garden Company (NYSE:MSGS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,400 shares of the company's stock, valued at approximately $467,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Systematic Financial Management LP boosted its stake in shares of Madison Square Garden by 1.5% in the 4th quarter. Systematic Financial Management LP now owns 126,249 shares of the company's stock valued at $28,492,000 after purchasing an additional 1,922 shares in the last quarter. Principal Financial Group Inc. lifted its position in Madison Square Garden by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 83,241 shares of the company's stock worth $16,209,000 after buying an additional 1,989 shares in the last quarter. QRG Capital Management Inc. acquired a new position in Madison Square Garden during the 1st quarter worth about $250,000. Central Pacific Bank Trust Division lifted its position in Madison Square Garden by 29.4% during the 1st quarter. Central Pacific Bank Trust Division now owns 6,600 shares of the company's stock worth $1,285,000 after buying an additional 1,500 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Madison Square Garden during the 4th quarter worth about $3,413,000. Institutional investors and hedge funds own 68.94% of the company's stock.

Madison Square Garden Stock Performance

NYSE:MSGS traded up $2.62 on Monday, hitting $208.50. 211,425 shares of the stock were exchanged, compared to its average volume of 124,599. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of 992.89 and a beta of 0.79. The Madison Square Garden Company has a 52 week low of $173.26 and a 52 week high of $237.99. The company's 50-day moving average price is $196.15 and its 200 day moving average price is $200.43.

Madison Square Garden (NYSE:MSGS - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of $1.48 by ($2.07). The firm had revenue of $424.20 million for the quarter, compared to the consensus estimate of $436.84 million. Madison Square Garden had a negative return on equity of 1.76% and a net margin of 0.45%. The business's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.57 earnings per share. As a group, equities research analysts predict that The Madison Square Garden Company will post 0.73 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on MSGS. Morgan Stanley reduced their price target on shares of Madison Square Garden from $235.00 to $215.00 and set an "equal weight" rating on the stock in a research report on Monday, May 5th. JPMorgan Chase & Co. reduced their price target on shares of Madison Square Garden from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Susquehanna began coverage on shares of Madison Square Garden in a research report on Monday, April 28th. They set a "positive" rating and a $254.00 price target on the stock. Finally, Guggenheim reiterated a "buy" rating and set a $314.00 price target on shares of Madison Square Garden in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Madison Square Garden currently has a consensus rating of "Moderate Buy" and a consensus target price of $252.60.

Madison Square Garden Profile

Madison Square Garden Sports Corp. operates as a professional sports company in the United States. The company owns and operates a portfolio of assets that consists of the New York Knickerbockers of the National Basketball Association (NBA) and the New York Rangers of the National Hockey League. Its other professional franchises include development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.