Mackenzie Financial Corp Buys 42,661 Shares of The Madison Square Garden Company (NYSE:MSGS)

Mackenzie Financial Corp raised its position in The Madison Square Garden Company (NYSE:MSGS - Free Report) by 99.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,380 shares of the company's stock after buying an additional 42,661 shares during the quarter. Mackenzie Financial Corp owned about 0.36% of Madison Square Garden worth $16,625,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MSGS. KLP Kapitalforvaltning AS purchased a new position in shares of Madison Square Garden in the fourth quarter valued at $722,000. 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. Vanguard Group Inc. grew its position in shares of Madison Square Garden by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 1,945,194 shares of the company's stock valued at $438,991,000 after purchasing an additional 33,641 shares in the last quarter. Norges Bank purchased a new position in shares of Madison Square Garden in the fourth quarter valued at $54,052,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Madison Square Garden in the fourth quarter valued at $214,000. 68.94% of the stock is currently owned by institutional investors.

Madison Square Garden Price Performance

MSGS stock traded down $2.27 during mid-day trading on Friday, hitting $199.83. 143,448 shares of the stock were exchanged, compared to its average volume of 152,246. The business has a fifty day moving average price of $199.49 and a 200 day moving average price of $199.05. 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 capitalization of $4.80 billion, a price-to-earnings ratio of 951.62 and a beta of 0.79.

Madison Square Garden (NYSE:MSGS - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $424.20 million for the quarter, compared to the consensus estimate of $436.84 million. During the same period last year, the firm earned $1.57 EPS. The company's revenue for the quarter was down 1.3% on a year-over-year basis. As a group, equities analysts forecast that The Madison Square Garden Company will post 0.73 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on MSGS. Susquehanna began coverage on Madison Square Garden in a research report on Monday, April 28th. They set a "positive" rating and a $254.00 target price for the company. Morgan Stanley reduced their target price 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. JPMorgan Chase & Co. reduced their target price 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. Finally, Guggenheim restated a "buy" rating and set a $314.00 target price on shares of Madison Square Garden in a research report on Tuesday, May 6th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $252.60.

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.