Bayforest Capital Ltd Takes Position in The Madison Square Garden Company $MSGS

Key Points

• Bayforest Capital Ltd has acquired a new stake in The Madison Square Garden Company, purchasing 2,909 shares valued at approximately $566,000 during the first quarter.
• Institutional investors now own 68.94% of Madison Square Garden's stock, with significant stakes also increased by firms like Goldman Sachs and UBS.
• The company reported earnings of ($0.07) EPS, which beat analysts' expectations, and its revenue for the quarter was $203.96 million, exceeding forecasts of $151 million.

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

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Madison Square Garden by 13.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,822 shares of the company's stock valued at $9,701,000 after purchasing an additional 5,896 shares during the last quarter. Empowered Funds LLC grew its position in shares of Madison Square Garden by 10.8% in the first quarter. Empowered Funds LLC now owns 2,055 shares of the company's stock valued at $400,000 after purchasing an additional 200 shares during the last quarter. United Services Automobile Association acquired a new stake in shares of Madison Square Garden in the first quarter valued at about $210,000. Clearline Capital LP grew its position in Madison Square Garden by 3.6% during the first quarter. Clearline Capital LP now owns 97,691 shares of the company's stock worth $19,022,000 after buying an additional 3,400 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Madison Square Garden by 28.2% during the first quarter. Goldman Sachs Group Inc. now owns 24,807 shares of the company's stock worth $4,830,000 after buying an additional 5,452 shares in the last quarter. 68.94% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden Trading Up 1.5%

Shares of Madison Square Garden stock opened at $205.99 on Wednesday. The Madison Square Garden Company has a 12 month low of $173.26 and a 12 month high of $237.99. The company has a market capitalization of $4.95 billion, a PE ratio of -223.91 and a beta of 0.78. The stock's fifty day simple moving average is $201.45 and its 200 day simple moving average is $196.24.

Madison Square Garden (NYSE:MSGS - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.42) by $0.35. The firm had revenue of $203.96 million during the quarter, compared to analysts' expectations 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 period in the previous year, the firm earned $1.06 earnings per share. Analysts predict that The Madison Square Garden Company will post 0.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MSGS shares. Morgan Stanley lifted their target price 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. Citigroup started coverage on Madison Square Garden in a research report on Tuesday. They set a "buy" rating and a $285.00 target price on the stock. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Madison Square Garden has a consensus 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.

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