Dynamic Technology Lab Private Ltd Takes Position 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 bought a new stake in The Madison Square Garden Company (NYSE:MSGS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,710 shares of the company's stock, valued at approximately $333,000.

Other institutional investors have also modified their holdings of the company. Putney Financial Group LLC acquired a new stake in shares of Madison Square Garden in the 4th quarter valued at about $28,000. Heck Capital Advisors LLC acquired a new stake in shares of Madison Square Garden in the 4th quarter valued at about $43,000. Covestor Ltd raised its stake in shares of Madison Square Garden by 35.5% in the 1st quarter. Covestor Ltd now owns 416 shares of the company's stock valued at $81,000 after purchasing an additional 109 shares in the last quarter. Cetera Investment Advisers acquired a new stake in shares of Madison Square Garden in the 4th quarter valued at about $203,000. Finally, Russell Investments Group Ltd. grew its position in shares of Madison Square Garden by 99.6% during the 1st quarter. Russell Investments Group Ltd. now owns 1,082 shares of the company's stock valued at $211,000 after buying an additional 540 shares during the last quarter. Institutional investors and hedge funds own 68.94% of the company's stock.

Madison Square Garden Stock Down 1.9%

NYSE MSGS traded down $4.08 on Thursday, hitting $215.42. The stock had a trading volume of 232,939 shares, compared to its average volume of 189,263. The Madison Square Garden Company has a one year low of $173.26 and a one year high of $237.99. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of -234.15 and a beta of 0.78. The company's 50-day moving average is $202.51 and its two-hundred day moving average is $196.80.

Madison Square Garden (NYSE:MSGS - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.35. Madison Square Garden had a negative net margin of 2.16% and a negative return on equity of 1.76%. The firm had revenue of $203.96 million during the quarter, compared to analysts' expectations of $151.00 million. During the same quarter in the prior year, the firm earned $1.06 EPS. Madison Square Garden's quarterly revenue was down 10.3% on a year-over-year basis. On average, sell-side analysts anticipate that The Madison Square Garden Company will post 0.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Citigroup assumed coverage on shares of Madison Square Garden in a research report on Tuesday, September 9th. They set a "buy" rating and a $285.00 price objective for the company. Morgan Stanley boosted their price objective on shares of Madison Square Garden from $215.00 to $220.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 13th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Madison Square Garden has an average rating of "Moderate Buy" and a consensus price target 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.