9,910 Shares in The Madison Square Garden Company $MSGS Purchased by Almitas Capital LLC

Key Points

• Almitas Capital LLC acquired a new stake in The Madison Square Garden Company (NYSE:MSGS), purchasing 9,910 shares valued at approximately $1.93 million in the 1st quarter.
• Victory Capital Management Inc. and GAMMA Investing LLC significantly increased their positions in Madison Square Garden, with increases of 523.2% and 14,886.7%, respectively.
• The company's shares currently have an average price target of $253.60, with a "Moderate Buy" rating overall from research analysts, despite a recent 0.8% drop in stock price.

Almitas Capital LLC acquired a new position in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,910 shares of the company's stock, valued at approximately $1,930,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MSGS. Marest Capital LLC boosted its stake in shares of Madison Square Garden by 4.1% during the first quarter. Marest Capital LLC now owns 1,751 shares of the company's stock valued at $341,000 after acquiring an additional 69 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its stake in shares of Madison Square Garden by 2.8% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 2,873 shares of the company's stock valued at $559,000 after purchasing an additional 79 shares in the last quarter. Covestor Ltd lifted its stake 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 purchasing an additional 109 shares in the last quarter. Putney Financial Group LLC purchased a new position in Madison Square Garden in the fourth quarter valued at about $28,000. Finally, Captrust Financial Advisors lifted its position in Madison Square Garden by 12.4% during the 4th quarter. Captrust Financial Advisors now owns 1,442 shares of the company's stock worth $325,000 after acquiring an additional 159 shares in the last quarter. Institutional investors and hedge funds own 68.94% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley boosted their price target on Madison Square Garden from $215.00 to $220.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 13th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $253.60.

Madison Square Garden Stock Performance

Shares of NYSE:MSGS traded up $0.07 on Friday, hitting $196.16. The company's stock had a trading volume of 157,689 shares, compared to its average volume of 216,822. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of -213.22 and a beta of 0.78. The stock's 50-day moving average is $201.55 and its two-hundred day moving average is $196.24. The Madison Square Garden Company has a 12 month low of $173.26 and a 12 month high of $237.99.

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

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.