The Madison Square Garden Company $MSGS Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC reduced its holdings in The Madison Square Garden Company by 63.2%, selling 1,850 shares and now owning 1,076 shares valued at approximately $210,000.
• Institutional investors own 68.94% of Madison Square Garden's stock, with significant activity including new positions and growth in holdings by firms like T. Rowe Price and Northern Trust.
• Madison Square Garden's stock has a consensus rating of "Moderate Buy" with an average price target of $253.60 despite reporting a revenue decline of 10.3% year-over-year in its latest earnings.

AlphaQuest LLC lessened its holdings in The Madison Square Garden Company (NYSE:MSGS - Free Report) by 63.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,076 shares of the company's stock after selling 1,850 shares during the period. AlphaQuest LLC's holdings in Madison Square Garden were worth $210,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Putney Financial Group LLC purchased a new position in 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 fourth quarter valued at about $43,000. Covestor Ltd boosted its position in Madison Square Garden by 35.5% during the first 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. Obermeyer Wealth Partners bought a new stake in Madison Square Garden during the fourth quarter valued at about $202,000. Finally, Cetera Investment Advisers bought a new stake in Madison Square Garden during the fourth quarter valued at about $203,000. 68.94% of the stock is owned by hedge funds and other institutional investors.

Madison Square Garden Trading Down 0.2%

Shares of MSGS stock traded down $0.35 during trading hours on Friday, reaching $195.74. 19,319 shares of the company's stock were exchanged, compared to its average volume of 156,309. The stock's 50 day moving average is $201.79 and its 200-day moving average is $196.38. The company has a market cap of $4.70 billion, a price-to-earnings ratio of -212.83 and a beta of 0.78. The Madison Square Garden Company has a fifty-two week low of $173.26 and a fifty-two week high of $237.99.

Madison Square Garden (NYSE:MSGS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping 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 business had revenue of $203.96 million for the quarter, compared to the consensus estimate of $151.00 million. During the same period in the prior year, the firm posted $1.06 earnings per share. The business's quarterly revenue was down 10.3% on a year-over-year basis. Equities analysts anticipate that The Madison Square Garden Company will post 0.73 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.