Bayforest Capital Ltd Makes New $566,000 Investment 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) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,909 shares of the company's stock, valued at approximately $566,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in Madison Square Garden by 2.4% in the first quarter. Principal Financial Group Inc. now owns 83,241 shares of the company's stock valued at $16,209,000 after purchasing an additional 1,989 shares in the last quarter. Atria Wealth Solutions Inc. boosted its holdings in Madison Square Garden by 100.0% in the first quarter. Atria Wealth Solutions Inc. now owns 3,100 shares of the company's stock valued at $604,000 after purchasing an additional 1,550 shares in the last quarter. Systematic Financial Management LP boosted its holdings in Madison Square Garden by 1.5% in the fourth quarter. Systematic Financial Management LP now owns 126,249 shares of the company's stock valued at $28,492,000 after purchasing an additional 1,922 shares in the last quarter. QRG Capital Management Inc. acquired a new position in Madison Square Garden in the first quarter valued at approximately $250,000. Finally, Virtu Financial LLC acquired a new stake in shares of Madison Square Garden in the first quarter valued at approximately $575,000. 68.94% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden Stock Down 0.1%

Shares of MSGS traded down $0.28 during trading hours on Monday, reaching $212.76. 66,919 shares of the company traded hands, compared to its average volume of 159,117. The stock has a market capitalization of $5.11 billion, a PE ratio of -230.78 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. The stock has a fifty day simple moving average of $201.58 and a 200 day simple moving average of $196.36.

Madison Square Garden (NYSE:MSGS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.07) EPS for the quarter, beating 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 analyst estimates of $151.00 million. During the same quarter last year, the company earned $1.06 earnings per share. The business's revenue for the quarter was down 10.3% compared to the same quarter last year. Research analysts predict that The Madison Square Garden Company will post 0.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MSGS shares. Citigroup started coverage on Madison Square Garden in a report on Tuesday, September 9th. They issued a "buy" rating and a $285.00 price objective for the company. Morgan Stanley increased their price objective on 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 equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.