AXQ Capital LP Purchases New Shares in The Madison Square Garden Company $MSGS

Key Points

• AXQ Capital LP acquired 6,564 MSGS shares during the second quarter, valued at approximately $2.64 million. Institutional investors collectively own 68.94% of the company.
• Analyst sentiment is mixed, with four Buy ratings and five Holds; the consensus rating is Hold and the average price target is $471.20, while Guggenheim raised its target to $584.
• MSGS reported quarterly EPS of $1.16 versus the $0.64 consensus estimate, while revenue rose 36.6% year over year to $278.75 million. Shares opened at $387.25, with a 52-week range of $194.25 to $438.93.

AXQ Capital LP acquired a new stake in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 6,564 shares of the company's stock, valued at approximately $2,638,000.

A number of other hedge funds have also recently bought and sold shares of MSGS. Nykredit A S purchased a new stake in Madison Square Garden in the 2nd quarter valued at about $339,000. BTG Pactual Asset Management US LLC bought a new stake in shares of Madison Square Garden during the 2nd quarter worth $423,000. Public Employees Retirement System of Ohio purchased a new position in shares of Madison Square Garden in the 2nd quarter worth about $1,838,000. Robotti Robert bought a new stake in Madison Square Garden in the second quarter worth about $201,000. Finally, Handelsbanken Fonder AB boosted its stake in Madison Square Garden by 29.7% in the second quarter. Handelsbanken Fonder AB now owns 4,892 shares of the company's stock valued at $1,966,000 after acquiring an additional 1,120 shares during the last quarter. 68.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MSGS has been the subject of a number of research reports. Wall Street Zen raised shares of Madison Square Garden from a "sell" rating to a "hold" rating in a research report on Sunday, August 23rd. Guggenheim raised their target price on Madison Square Garden from $522.00 to $584.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. JPMorgan Chase & Co. boosted their target price on Madison Square Garden from $450.00 to $485.00 and gave the company an "overweight" rating in a research note on Friday, August 14th. Weiss Ratings raised Madison Square Garden from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 14th. Finally, Seaport Research Partners increased their price target on Madison Square Garden from $430.00 to $435.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Madison Square Garden has an average rating of "Hold" and a consensus price target of $471.20.

Madison Square Garden Stock Performance

Shares of NYSE MSGS opened at $387.25 on Friday. The stock has a fifty day moving average of $395.49 and a 200-day moving average of $359.24. The Madison Square Garden Company has a fifty-two week low of $194.25 and a fifty-two week high of $438.93. The stock has a market cap of $9.32 billion, a PE ratio of 1,290.88 and a beta of 0.60.

Madison Square Garden (NYSE:MSGS - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.52. The business had revenue of $278.75 million for the quarter, compared to analyst estimates of $227.67 million. Madison Square Garden had a net margin of 0.67% and a negative return on equity of 3.47%. Madison Square Garden's revenue was up 36.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.07) EPS. On average, sell-side analysts predict that The Madison Square Garden Company will post -0.8 EPS for the current year.

Madison Square Garden Profile

Madison Square Garden Sports Corp NYSE: MSGS is a leading sports and entertainment holding company focused on professional sports franchises and related media assets. The company owns and operates teams such as the NBA's New York Knicks, the NHL's New York Rangers and the WNBA's New York Liberty. Through these flagship franchises, MSG Sports offers a range of products and services including ticketing, premium seating and sponsorship opportunities, targeting fans in the New York metropolitan area and beyond.

In addition to team operations, Madison Square Garden Sports Corp holds a majority stake in MSG Networks, a regional cable network that broadcasts live sporting events, news and original programming.

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