Invesco Ltd. raised its position in The Madison Square Garden Company (NYSE:MSGS - Free Report) by 16.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,121 shares of the company's stock after acquiring an additional 13,863 shares during the quarter. Invesco Ltd. owned 0.40% of Madison Square Garden worth $18,911,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Putney Financial Group LLC acquired a new stake in Madison Square Garden in the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC acquired a new stake in Madison Square Garden in the fourth quarter valued at approximately $43,000. Covestor Ltd grew its position in Madison Square Garden by 35.5% in the first quarter. Covestor Ltd now owns 416 shares of the company's stock valued at $81,000 after acquiring an additional 109 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in Madison Square Garden in the fourth quarter valued at approximately $92,000. Finally, Obermeyer Wealth Partners acquired a new stake in Madison Square Garden in the fourth quarter valued at approximately $202,000. Institutional investors and hedge funds own 68.94% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of 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. Morgan Stanley increased 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. Finally, Guggenheim reaffirmed a "buy" rating and issued a $314.00 price objective on shares of Madison Square Garden in a research report on Tuesday, May 6th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Madison Square Garden currently has an average rating of "Moderate Buy" and an average price target of $253.60.
Read Our Latest Stock Analysis on MSGS
Madison Square Garden Stock Performance
Shares of MSGS stock traded down $0.35 during mid-day trading on Wednesday, reaching $196.64. 139,572 shares of the company were exchanged, compared to its average volume of 210,383. The Madison Square Garden Company has a fifty-two week low of $173.26 and a fifty-two week high of $237.99. The company has a market capitalization of $4.72 billion, a P/E ratio of -213.74 and a beta of 0.79. The business's 50 day simple moving average is $202.62 and its 200 day simple moving average is $196.94.
Madison Square Garden (NYSE:MSGS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $203.96 million for the quarter, compared to analysts' expectations of $151.00 million. During the same period last year, the business posted $1.06 earnings per share. The firm's revenue for the quarter was down 10.3% on a year-over-year basis. On average, analysts forecast that The Madison Square Garden Company will post 0.73 EPS for the current year.
About Madison Square Garden
(
Free Report)
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.
Featured Stories
Before you consider Madison Square Garden, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Madison Square Garden wasn't on the list.
While Madison Square Garden currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
