The Madison Square Garden Company $MSGS Shares Acquired by Inspire Trust Co. N.A.

Key Points

• Inspire Trust Co. N.A. increased its stake in The Madison Square Garden Company by 28.6%, holding 9,000 shares worth $1.75 million as of their latest SEC filing.
• Madison Square Garden reported a loss of $0.07 EPS this quarter, beating estimates and generating revenue of $203.96 million, which is significantly higher than the anticipated $151 million.
• Analysts have varying opinions on Madison Square Garden, with target prices ranging from $220.00 to $314.00, indicating a general consensus rating of Moderate Buy.

Inspire Trust Co. N.A. raised its stake in The Madison Square Garden Company (NYSE:MSGS - Free Report) by 28.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,000 shares of the company's stock after purchasing an additional 2,000 shares during the period. Inspire Trust Co. N.A.'s holdings in Madison Square Garden were worth $1,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Putney Financial Group LLC purchased a new stake in shares of Madison Square Garden during the fourth quarter worth about $28,000. Heck Capital Advisors LLC acquired a new stake in Madison Square Garden during the 4th quarter worth about $43,000. Covestor Ltd grew its stake in Madison Square Garden by 35.5% during the 1st quarter. Covestor Ltd now owns 416 shares of the company's stock valued at $81,000 after purchasing an additional 109 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in Madison Square Garden during the 4th quarter valued at about $92,000. Finally, Obermeyer Wealth Partners acquired a new position in shares of Madison Square Garden in the fourth quarter valued at about $202,000. 68.94% of the stock is currently owned by institutional investors.

Madison Square Garden Stock Down 0.3%

Shares of NYSE:MSGS traded down $0.56 during trading on Monday, hitting $197.05. 202,218 shares of the stock traded hands, compared to its average volume of 156,757. The company has a fifty day moving average price of $201.44 and a two-hundred day moving average price of $197.56. The Madison Square Garden Company has a 52-week low of $173.26 and a 52-week high of $237.99. The company has a market cap of $4.73 billion, a price-to-earnings ratio of -214.19 and a beta of 0.79.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on MSGS shares. JPMorgan Chase & Co. dropped their target price on Madison Square Garden from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Susquehanna assumed coverage on shares of Madison Square Garden in a report on Monday, April 28th. They issued a "positive" rating and a $254.00 price objective on the stock. Morgan Stanley raised their target price on shares of Madison Square Garden from $215.00 to $220.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 13th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $314.00 price target on shares of Madison Square Garden in a report on Tuesday, May 6th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $253.60.

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.