CW Advisors LLC Makes New $1.31 Million Investment in The Madison Square Garden Company $MSGS

Key Points

• CW Advisors LLC has acquired a new stake in The Madison Square Garden Company, purchasing 6,716 shares valued at approximately $1.31 million during the first quarter.
• The company reported a revenue of $203.96 million for the latest quarter, significantly exceeding analyst estimates of $151 million, though it experienced a 10.3% decline in revenue compared to the previous year.
• Several analysts have a consensus rating of "Moderate Buy" for Madison Square Garden with a price target of $253.60, indicating potential upside from current trading levels around $198.84.

CW Advisors LLC acquired a new position in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,716 shares of the company's stock, valued at approximately $1,308,000.

A number of other hedge funds also recently made changes to their positions in MSGS. Putney Financial Group LLC bought a new position in shares of Madison Square Garden during the fourth quarter worth about $28,000. Heck Capital Advisors LLC bought a new position in shares of Madison Square Garden during the fourth quarter worth about $43,000. Covestor Ltd raised its position in shares of Madison Square Garden by 35.5% during the first quarter. Covestor Ltd now owns 416 shares of the company's stock worth $81,000 after acquiring an additional 109 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of Madison Square Garden during the fourth quarter worth about $92,000. Finally, Obermeyer Wealth Partners bought a new position in shares of Madison Square Garden during the fourth quarter worth about $202,000. 68.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MSGS shares. Guggenheim reiterated a "buy" rating and issued a $314.00 target price on shares of Madison Square Garden in a report on Tuesday, May 6th. 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 report on Wednesday, August 13th. Finally, JPMorgan Chase & Co. lowered their target price on Madison Square Garden from $240.00 to $230.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $253.60.

Madison Square Garden Stock Performance

Madison Square Garden stock traded up $1.25 during mid-day trading on Friday, reaching $197.79. The stock had a trading volume of 192,161 shares, compared to its average volume of 156,334. 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's 50-day simple moving average is $202.73 and its 200-day simple moving average is $196.86. The firm has a market capitalization of $4.75 billion, a PE ratio of -214.99 and a beta of 0.79.

Madison Square Garden (NYSE:MSGS - Get Free Report) last announced 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 firm had revenue of $203.96 million during the quarter, compared to analysts' expectations of $151.00 million. During the same quarter last year, the firm posted $1.06 earnings per share. The company's revenue for the quarter was down 10.3% compared to the same quarter last year. On average, research analysts forecast that The Madison Square Garden Company will post 0.73 earnings per share for the current fiscal year.

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.