Alberta Investment Management Corp Takes $604,000 Position in The Madison Square Garden Company (NYSE:MSGS)

Key Points

• Alberta Investment Management Corp purchased 3,100 shares of The Madison Square Garden Company (NYSE:MSGS) valued at approximately $604,000 in its first quarter.
• Madison Square Garden reported a loss of $0.59 EPS for the last quarter, significantly missing the consensus estimate of $1.48, with revenue down 1.3% year-over-year.
• Wall Street analysts have mixed views on MSGS, with price targets ranging from $215.00 to $314.00, indicating varying levels of confidence in its future performance.

Alberta Investment Management Corp purchased a new stake in The Madison Square Garden Company (NYSE:MSGS - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,100 shares of the company's stock, valued at approximately $604,000.

A number of other large investors have also recently bought and sold shares of the company. Advisors Capital Management LLC grew its stake in Madison Square Garden by 0.5% during the 4th quarter. Advisors Capital Management LLC now owns 10,606 shares of the company's stock valued at $2,394,000 after acquiring an additional 48 shares in the last quarter. Treasurer of the State of North Carolina raised its position in Madison Square Garden by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 8,172 shares of the company's stock valued at $1,844,000 after purchasing an additional 50 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Madison Square Garden by 9.2% during the 4th quarter. Quadrant Capital Group LLC now owns 650 shares of the company's stock worth $147,000 after buying an additional 55 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Madison Square Garden by 2.2% during the 4th quarter. NewEdge Advisors LLC now owns 2,914 shares of the company's stock worth $658,000 after purchasing an additional 62 shares in the last quarter. Finally, Marest Capital LLC grew its position in shares of Madison Square Garden by 4.1% in the first quarter. Marest Capital LLC now owns 1,751 shares of the company's stock valued at $341,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 68.94% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Guggenheim reissued a "buy" rating and issued a $314.00 target price on shares of Madison Square Garden in a report on Tuesday, May 6th. Morgan Stanley reduced their target price on Madison Square Garden from $235.00 to $215.00 and set an "equal weight" rating on the stock in a report on Monday, May 5th. Susquehanna started 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. Finally, JPMorgan Chase & Co. lowered their target price on shares of Madison Square Garden from $240.00 to $230.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. 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 company presently has a consensus rating of "Moderate Buy" and an average target price of $252.60.

Madison Square Garden Stock Performance

NYSE:MSGS traded down $0.93 during trading hours on Friday, reaching $201.04. The stock had a trading volume of 61,400 shares, compared to its average volume of 147,482. The stock has a market cap of $4.83 billion, a P/E ratio of 957.52 and a beta of 0.79. The Madison Square Garden Company has a 12-month low of $173.26 and a 12-month high of $237.99. The stock has a 50 day simple moving average of $200.52 and a 200 day simple moving average of $198.79.

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.