Bayforest Capital Ltd Acquires Shares of 2,909 The Madison Square Garden Company (NYSE:MSGS)

Key Points

• Bayforest Capital Ltd has invested $566,000 to acquire 2,909 shares in The Madison Square Garden Company (NYSE:MSGS) during the first quarter.
• The Madison Square Garden Company's last quarter reported earnings showed a loss of ($0.59) EPS, significantly missing analysts' estimates of $1.48.
• Equity analysts have differing views on MSGS stock, with a range of price targets from $215.00 to $314.00 and an average rating of "Moderate Buy."

Bayforest Capital Ltd purchased a new position in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,909 shares of the company's stock, valued at approximately $566,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Putney Financial Group LLC purchased a new stake in shares of Madison Square Garden during the fourth quarter worth about $28,000. Heck Capital Advisors LLC purchased a new position in shares of Madison Square Garden during the 4th quarter worth $43,000. Headlands Technologies LLC lifted its stake in shares of Madison Square Garden by 1,016.7% during the 4th quarter. Headlands Technologies LLC now owns 268 shares of the company's stock worth $60,000 after purchasing an additional 244 shares during the period. Covestor Ltd lifted its stake in shares of Madison Square Garden by 30,600.0% during the 4th quarter. Covestor Ltd now owns 307 shares of the company's stock worth $69,000 after purchasing an additional 306 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Madison Square Garden during the 4th quarter worth $92,000. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

Madison Square Garden Trading Down 1.1%

Shares of Madison Square Garden stock traded down $2.27 during trading hours on Friday, reaching $199.83. The stock had a trading volume of 143,448 shares, compared to its average volume of 152,246. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 951.62 and a beta of 0.79. The Madison Square Garden Company has a 1 year low of $173.26 and a 1 year high of $237.99. The firm has a 50 day simple moving average of $199.49 and a two-hundred day simple moving average of $199.16.

Madison Square Garden (NYSE:MSGS - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of $1.48 by ($2.07). Madison Square Garden had a net margin of 0.45% and a negative return on equity of 1.76%. The business had revenue of $424.20 million during the quarter, compared to analysts' expectations of $436.84 million. During the same quarter in the previous year, the business posted $1.57 EPS. The company's quarterly revenue was down 1.3% on a year-over-year basis. Sell-side analysts forecast that The Madison Square Garden Company will post 0.73 EPS for the current year.

Analyst Ratings Changes

MSGS has been the topic of a number of recent analyst reports. Susquehanna initiated coverage on Madison Square Garden in a research note on Monday, April 28th. They set a "positive" rating and a $254.00 price target on the stock. Guggenheim reissued a "buy" rating and set a $314.00 price target on shares of Madison Square Garden in a research note on Tuesday, May 6th. Morgan Stanley reduced their price target on Madison Square Garden from $235.00 to $215.00 and set an "equal weight" rating on the stock in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. reduced their price target on Madison Square Garden from $240.00 to $230.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $252.60.

About Madison Square Garden

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.