Edgestream Partners L.P. Takes $7.11 Million Position in The Madison Square Garden Company $MSGS

Key Points

• Edgestream Partners L.P. bought 22,121 MSGS shares worth approximately $7.11 million during the first quarter, representing about 0.09% of the company.
• Madison Square Garden shares rose 1.8% to $405.62, near their 12-month high of $411.73; institutional investors collectively own 68.94% of the stock.
• The company’s latest quarterly revenue reached $432.2 million, slightly exceeding estimates, but adjusted EPS of negative $0.83 missed consensus by $1.39. Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $442.40.

Edgestream Partners L.P. purchased a new position in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,121 shares of the company's stock, valued at approximately $7,110,000. Edgestream Partners L.P. owned approximately 0.09% of Madison Square Garden as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MSGS. Aster Capital Management DIFC Ltd purchased a new position in Madison Square Garden in the fourth quarter valued at $26,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Madison Square Garden by 67.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 122 shares of the company's stock worth $32,000 after acquiring an additional 49 shares in the last quarter. SJS Investment Consulting Inc. boosted its stake in shares of Madison Square Garden by 488.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 100 shares of the company's stock worth $32,000 after acquiring an additional 83 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of Madison Square Garden by 1,150.0% during the 4th quarter. Global Retirement Partners LLC now owns 125 shares of the company's stock valued at $32,000 after acquiring an additional 115 shares during the period. Finally, Salomon & Ludwin LLC increased its stake in shares of Madison Square Garden by 33.1% in the 4th quarter. Salomon & Ludwin LLC now owns 157 shares of the company's stock valued at $40,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 68.94% of the company's stock.

Madison Square Garden Trading Up 1.8%

Shares of Madison Square Garden stock opened at $405.62 on Friday. The Madison Square Garden Company has a twelve month low of $188.60 and a twelve month high of $411.73. The firm has a market capitalization of $9.77 billion, a PE ratio of -436.15 and a beta of 0.61. The firm's 50-day moving average price is $384.33 and its 200 day moving average price is $339.26.

Madison Square Garden (NYSE:MSGS - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of $0.56 by ($1.39). The business had revenue of $432.20 million during the quarter, compared to the consensus estimate of $429.66 million. During the same period in the prior year, the business posted ($0.59) EPS. The company's quarterly revenue was up 1.9% compared to the same quarter last year. On average, sell-side analysts predict that The Madison Square Garden Company will post -0.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Zacks Research cut Madison Square Garden from a "hold" rating to a "strong sell" rating in a report on Thursday, July 16th. Morgan Stanley upgraded Madison Square Garden from an "equal weight" rating to an "overweight" rating and set a $450.00 price objective for the company in a research report on Wednesday, July 15th. Citigroup upped their target price on Madison Square Garden from $355.00 to $360.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 13th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Madison Square Garden in a research report on Wednesday, June 24th. Finally, Seaport Research Partners lifted their price target on shares of Madison Square Garden from $430.00 to $435.00 and gave the company a "buy" rating in a research note on Wednesday, May 27th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $442.40.

Madison Square Garden Profile

Madison Square Garden Sports Corp NYSE: MSGS is a leading sports and entertainment holding company focused on professional sports franchises and related media assets. The company owns and operates teams such as the NBA's New York Knicks, the NHL's New York Rangers and the WNBA's New York Liberty. Through these flagship franchises, MSG Sports offers a range of products and services including ticketing, premium seating and sponsorship opportunities, targeting fans in the New York metropolitan area and beyond.

In addition to team operations, Madison Square Garden Sports Corp holds a majority stake in MSG Networks, a regional cable network that broadcasts live sporting events, news and original programming.

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