The Madison Square Garden Company $MSGS Shares Acquired by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC significantly increased its stake in The Madison Square Garden Company by 111.1%, owning 49,502 shares valued at approximately $9.5 million after acquiring an additional 26,049 shares.
• Analysts have a favorable outlook on Madison Square Garden, with a consensus rating of "Moderate Buy" and an average price target of $258.83, reflecting confidence in the company's growth potential.
• The company's recent quarterly earnings exceeded expectations, reporting ($0.07) EPS versus a consensus estimate of ($0.42), driven by revenues of $203.96 million that also surpassed estimates.

AQR Capital Management LLC boosted its position in The Madison Square Garden Company (NYSE:MSGS - Free Report) by 111.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,502 shares of the company's stock after purchasing an additional 26,049 shares during the quarter. AQR Capital Management LLC owned approximately 0.21% of Madison Square Garden worth $9,518,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MSGS. Captrust Financial Advisors boosted its position in shares of Madison Square Garden by 12.4% in the 4th quarter. Captrust Financial Advisors now owns 1,442 shares of the company's stock worth $325,000 after purchasing an additional 159 shares in the last quarter. Cetera Investment Advisers purchased a new stake in Madison Square Garden in the fourth quarter valued at about $203,000. Deutsche Bank AG grew its stake in shares of Madison Square Garden by 0.5% during the fourth quarter. Deutsche Bank AG now owns 75,812 shares of the company's stock worth $17,109,000 after acquiring an additional 375 shares during the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of Madison Square Garden by 56.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 18,237 shares of the company's stock valued at $4,116,000 after acquiring an additional 6,606 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Madison Square Garden in the 4th quarter valued at approximately $1,374,000. 68.94% of the stock is currently owned by institutional investors.

Madison Square Garden Trading Up 1.9%

MSGS traded up $4.05 during midday trading on Tuesday, hitting $215.00. 237,708 shares of the company were exchanged, compared to its average volume of 176,314. The company's 50 day simple moving average is $201.95 and its 200 day simple moving average is $196.54. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of -233.70 and a beta of 0.78. 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, 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 firm had revenue of $203.96 million for the quarter, compared to the consensus estimate of $151.00 million. During the same quarter in the prior year, the business earned $1.06 earnings per share. The company's revenue was down 10.3% compared to the same quarter last year. On average, equities analysts anticipate that The Madison Square Garden Company will post 0.73 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on MSGS shares. Citigroup began coverage on shares of Madison Square Garden in a research report on Tuesday, September 9th. They set a "buy" rating and a $285.00 target price on the stock. Morgan Stanley boosted their price objective on shares of Madison Square Garden from $215.00 to $220.00 and gave the company an "equal weight" rating in a report on Wednesday, August 13th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $258.83.

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.