Dynamic Technology Lab Private Ltd Makes New $333,000 Investment in The Madison Square Garden Company $MSGS

Key Points

• Dynamic Technology Lab Private Ltd has made a new investment in The Madison Square Garden Company, acquiring 1,710 shares valued at approximately $333,000.
• Research analysts have given Madison Square Garden a consensus rating of "Moderate Buy" with an average price target of $258.83, indicating positive sentiment towards the stock's performance.
• The company reported a revenue of $203.96 million for the last quarter, exceeding estimates of $151 million, despite showing a 10.3% decline year-over-year.

Dynamic Technology Lab Private Ltd acquired a new position in The Madison Square Garden Company (NYSE:MSGS - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,710 shares of the company's stock, valued at approximately $333,000.

Several other institutional investors and hedge funds have also bought and sold shares of MSGS. Victory Capital Management Inc. lifted its holdings in Madison Square Garden by 523.2% in the 1st quarter. Victory Capital Management Inc. now owns 347,800 shares of the company's stock worth $67,724,000 after buying an additional 291,989 shares during the period. GAMMA Investing LLC lifted its holdings in Madison Square Garden by 14,886.7% in the 1st quarter. GAMMA Investing LLC now owns 137,278 shares of the company's stock worth $26,731,000 after buying an additional 136,362 shares during the period. Nuveen LLC bought a new position in shares of Madison Square Garden in the 1st quarter worth approximately $8,585,000. Mackenzie Financial Corp bought a new position in shares of Madison Square Garden in the 4th quarter worth approximately $9,641,000. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of Madison Square Garden by 6.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 528,545 shares of the company's stock worth $102,919,000 after acquiring an additional 29,938 shares in the last quarter. Hedge funds and other institutional investors own 68.94% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on MSGS shares. Citigroup started coverage on Madison Square Garden in a research report on Tuesday. They issued a "buy" rating and a $285.00 target price for the company. Morgan Stanley increased 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. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Madison Square Garden presently has a consensus rating of "Moderate Buy" and an average price target of $258.83.

Madison Square Garden Stock Up 0.7%

MSGS stock opened at $213.16 on Friday. The Madison Square Garden Company has a twelve month low of $173.26 and a twelve month high of $237.99. The firm has a market cap of $5.12 billion, a PE ratio of -231.69 and a beta of 0.78. The business has a 50 day moving average of $201.58 and a 200 day moving average of $196.44.

Madison Square Garden (NYSE:MSGS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.07) earnings per share 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 company had revenue of $203.96 million during the quarter, compared to analyst estimates of $151.00 million. During the same quarter last year, the company earned $1.06 EPS. The firm's revenue for the quarter was down 10.3% on a year-over-year basis. On average, research analysts expect that The Madison Square Garden Company will post 0.73 earnings per share for the current fiscal year.

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.

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