Jump Financial LLC Buys 2,081 Shares of The Madison Square Garden Company $MSGS

Key Points

• Jump Financial LLC has increased its holdings in The Madison Square Garden Company by 29.8%, now owning 9,060 shares valued at approximately $1.76 million.
• Madison Square Garden reported earnings of ($0.07) per share, exceeding expectations, but noted a 10.3% decline in quarterly revenue year-over-year.
• The stock is currently valued at $196.64 with analysts giving it a "Moderate Buy" rating and an average target price of $253.60.

Jump Financial LLC grew its holdings in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) by 29.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,060 shares of the company's stock after acquiring an additional 2,081 shares during the period. Jump Financial LLC's holdings in Madison Square Garden were worth $1,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of MSGS. CW Advisors LLC bought a new stake in Madison Square Garden during the first quarter valued at about $1,308,000. T. Rowe Price Investment Management Inc. grew its stake in shares of Madison Square Garden by 6.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 528,545 shares of the company's stock valued at $102,919,000 after acquiring an additional 29,938 shares during the period. Quantbot Technologies LP bought a new position in shares of Madison Square Garden during the 1st quarter valued at approximately $1,994,000. Northern Trust Corp grew its stake in shares of Madison Square Garden by 15.9% during the 1st quarter. Northern Trust Corp now owns 135,191 shares of the company's stock valued at $26,324,000 after acquiring an additional 18,529 shares during the period. Finally, Inspire Trust Co. N.A. raised its stake in Madison Square Garden by 28.6% during the 1st quarter. Inspire Trust Co. N.A. now owns 9,000 shares of the company's stock worth $1,752,000 after acquiring an additional 2,000 shares during the period. 68.94% of the stock is owned by institutional investors.

Madison Square Garden Stock Up 0.6%

Madison Square Garden stock traded up $1.25 during midday trading on Monday, reaching $197.79. 192,161 shares of the stock traded hands, compared to its average volume of 210,503. The stock's fifty day moving average is $202.62 and its 200-day moving average is $196.60. The Madison Square Garden Company has a 12 month low of $173.26 and a 12 month high of $237.99. The stock has a market cap of $4.75 billion, a P/E ratio of -214.99 and a beta of 0.78.

Madison Square Garden (NYSE:MSGS - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.42) by $0.35. The business had revenue of $203.96 million for the quarter, compared to the consensus estimate of $151.00 million. Madison Square Garden had a negative return on equity of 1.76% and a negative net margin of 2.16%.The company's revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.06 EPS. On average, equities analysts predict that The Madison Square Garden Company will post 0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MSGS shares. Morgan Stanley upped their price target on shares of Madison Square Garden from $215.00 to $220.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 13th. Guggenheim reaffirmed a "buy" rating and issued a $314.00 target price on shares of Madison Square Garden in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. decreased their price target on Madison Square Garden from $240.00 to $230.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $253.60.

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.