2,955 Shares in The Madison Square Garden Company $MSGS Purchased by Virtu Financial LLC

Key Points

• Virtu Financial LLC has acquired 2,955 shares of The Madison Square Garden Company, valued at approximately $575,000, as reported in its Form 13F filing.
• Institutional investors have significantly increased their stakes, with T. Rowe Price boosting its holdings by 1,854.0% in the fourth quarter, now owning 498,607 shares valued at $112.5 million.
• Analysts have mixed views on the stock, with price targets ranging from $220.00 to $314.00, and an average rating of "Moderate Buy" based on recent evaluations.

Virtu Financial LLC bought a new stake in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,955 shares of the company's stock, valued at approximately $575,000.

A number of other institutional investors have also added to or reduced their stakes in MSGS. Putney Financial Group LLC bought a new position in shares of Madison Square Garden during the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC bought a new stake in Madison Square Garden during the 4th quarter valued at $43,000. Covestor Ltd increased its holdings in shares of Madison Square Garden by 35.5% in the 1st quarter. Covestor Ltd now owns 416 shares of the company's stock valued at $81,000 after acquiring an additional 109 shares during the period. Kapitalo Investimentos Ltda bought a new position in shares of Madison Square Garden in the 4th quarter worth $92,000. Finally, Obermeyer Wealth Partners purchased a new stake in shares of Madison Square Garden during the 4th quarter worth $202,000. Hedge funds and other institutional investors own 68.94% of the company's stock.

Madison Square Garden Price Performance

Madison Square Garden stock traded up $1.08 during trading hours on Monday, hitting $198.69. 75,281 shares of the stock traded hands, compared to its average volume of 155,837. The firm's 50 day moving average price is $201.44 and its 200-day moving average price is $197.56. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of -216.18 and a beta of 0.79. The Madison Square Garden Company has a 1 year low of $173.26 and a 1 year high of $237.99.

Madison Square Garden (NYSE:MSGS - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.42) by $0.35. Madison Square Garden had a negative return on equity of 1.76% and a negative net margin of 2.16%. The firm had revenue of $203.96 million for the quarter, compared to analyst estimates of $151.00 million. During the same quarter in the prior year, the firm earned $1.06 earnings per share. Madison Square Garden's revenue for the quarter was down 10.3% on a year-over-year basis. Research analysts forecast that The Madison Square Garden Company will post 0.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MSGS shares. Susquehanna assumed coverage on Madison Square Garden in a research note on Monday, April 28th. They issued a "positive" rating and a $254.00 target price on the stock. JPMorgan Chase & Co. cut their price objective 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. Guggenheim reissued a "buy" rating and set a $314.00 target price on shares of Madison Square Garden in a research report on Tuesday, May 6th. Finally, Morgan Stanley lifted their price target on shares of Madison Square Garden from $215.00 to $220.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $253.60.

Madison Square Garden Company 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.