Garner Asset Management Corp Purchases Shares of 2,709 The Madison Square Garden Company (NYSE:MSGS)

Garner Asset Management Corp acquired a new position in The Madison Square Garden Company (NYSE:MSGS - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,709 shares of the company's stock, valued at approximately $528,000.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Madison Square Garden in the fourth quarter valued at approximately $4,425,000. Xponance Inc. grew its position in shares of Madison Square Garden by 8.4% in the fourth quarter. Xponance Inc. now owns 1,105 shares of the company's stock valued at $249,000 after purchasing an additional 86 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Madison Square Garden by 342.5% in the fourth quarter. Teacher Retirement System of Texas now owns 14,343 shares of the company's stock valued at $3,237,000 after purchasing an additional 11,102 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Madison Square Garden in the fourth quarter valued at approximately $722,000. Finally, LPL Financial LLC grew its position in shares of Madison Square Garden by 12.0% in the fourth quarter. LPL Financial LLC now owns 2,272 shares of the company's stock valued at $513,000 after purchasing an additional 244 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Trading Down 0.6%

Shares of NYSE MSGS traded down $1.32 during midday trading on Friday, reaching $201.99. 27,321 shares of the company were exchanged, compared to its average volume of 148,617. The Madison Square Garden Company has a 1 year low of $173.26 and a 1 year high of $237.99. The stock has a fifty day simple moving average of $198.56 and a 200 day simple moving average of $199.68. The stock has a market cap of $4.85 billion, a P/E ratio of 961.90 and a beta of 0.79.

Madison Square Garden (NYSE:MSGS - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.48 by ($2.07). Madison Square Garden had a negative return on equity of 1.76% and a net margin of 0.45%. The company had revenue of $424.20 million for the quarter, compared to analysts' expectations of $436.84 million. During the same period in the prior year, the business earned $1.57 EPS. The business's quarterly revenue was down 1.3% compared to the same quarter last year. As a group, analysts forecast that The Madison Square Garden Company will post 0.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MSGS. Guggenheim restated a "buy" rating and issued a $314.00 price target on shares of Madison Square Garden in a research report on Tuesday, May 6th. Susquehanna started coverage on Madison Square Garden in a research report on Monday, April 28th. They issued a "positive" rating and a $254.00 price objective for the company. Morgan Stanley lowered their price objective on Madison Square Garden from $235.00 to $215.00 and set an "equal weight" rating for the company in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. lowered their price target on Madison Square Garden from $240.00 to $230.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $252.60.

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.