Gotham Asset Management LLC Has $13.69 Million Stake in The Madison Square Garden Company $MSGS

Key Points

• Gotham Asset Management LLC has increased its stake in The Madison Square Garden Company by 19.8%, owning 70,319 shares valued at approximately $13.69 million after acquiring an additional 11,610 shares.
• The stock currently has a price-to-earnings ratio of -213.22 and a market cap of $4.71 billion, with shares opening at $196.16.
• Research analysts have set a price target of $220 for MSGS, suggesting a "Moderate Buy" rating with the average target reaching $253.60.

Gotham Asset Management LLC grew its holdings in The Madison Square Garden Company (NYSE:MSGS - Free Report) by 19.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,319 shares of the company's stock after acquiring an additional 11,610 shares during the quarter. Gotham Asset Management LLC owned 0.29% of Madison Square Garden worth $13,693,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MSGS. Northern Trust Corp boosted its position in shares of Madison Square Garden by 6.2% in the fourth quarter. Northern Trust Corp now owns 116,662 shares of the company's stock valued at $26,328,000 after acquiring an additional 6,839 shares during the period. Captrust Financial Advisors boosted its position in shares of Madison Square Garden by 12.4% in the fourth quarter. Captrust Financial Advisors now owns 1,442 shares of the company's stock valued at $325,000 after acquiring an additional 159 shares during the period. Cetera Investment Advisers bought a new stake in Madison Square Garden during the fourth quarter worth about $203,000. Deutsche Bank AG lifted its position in Madison Square Garden by 0.5% during the fourth quarter. Deutsche Bank AG now owns 75,812 shares of the company's stock worth $17,109,000 after purchasing an additional 375 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its position in Madison Square Garden by 56.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 18,237 shares of the company's stock worth $4,116,000 after purchasing an additional 6,606 shares during the period. Institutional investors own 68.94% of the company's stock.

Wall Street Analysts Forecast Growth

MSGS has been the subject of several recent analyst reports. Citigroup initiated coverage on shares of Madison Square Garden in a research report on Tuesday. They set a "buy" rating and a $285.00 price objective for the company. Morgan Stanley boosted their target price on Madison Square Garden from $215.00 to $220.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $258.83.

Madison Square Garden Trading Down 0.3%

MSGS traded down $0.55 during trading on Friday, reaching $211.21. 37,066 shares of the company's stock were exchanged, compared to its average volume of 158,664. 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 capitalization of $5.07 billion, a PE ratio of -229.57 and a beta of 0.78. The firm has a fifty day moving average price of $201.48 and a two-hundred day moving average price of $196.36.

Madison Square Garden (NYSE:MSGS - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $151.00 million. During the same period in the previous year, the firm posted $1.06 EPS. The company's revenue for the quarter was down 10.3% compared to the same quarter last year. Sell-side analysts expect that The Madison Square Garden Company will post 0.73 earnings per share for the current year.

Madison Square Garden Company 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.