The Madison Square Garden Company (NYSE:MSGS) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp increased its holdings in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) by 99.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 85,380 shares of the company's stock after purchasing an additional 42,661 shares during the period. Mackenzie Financial Corp owned 0.36% of Madison Square Garden worth $16,625,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Putney Financial Group LLC acquired a new position in shares of Madison Square Garden during the fourth quarter worth $28,000. Heck Capital Advisors LLC purchased a new stake in Madison Square Garden in the fourth quarter valued at about $43,000. Headlands Technologies LLC boosted its holdings in Madison Square Garden by 1,016.7% in the fourth quarter. Headlands Technologies LLC now owns 268 shares of the company's stock worth $60,000 after acquiring an additional 244 shares in the last quarter. Covestor Ltd boosted its holdings in Madison Square Garden by 30,600.0% in the fourth quarter. Covestor Ltd now owns 307 shares of the company's stock worth $69,000 after acquiring an additional 306 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Madison Square Garden during the fourth quarter worth about $92,000. Institutional investors own 68.94% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on MSGS shares. JPMorgan Chase & Co. lowered their target price on shares of Madison Square Garden from $240.00 to $230.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Guggenheim restated a "buy" rating and set a $314.00 target price on shares of Madison Square Garden in a report on Tuesday, May 6th. Susquehanna initiated coverage on Madison Square Garden in a report on Monday, April 28th. They set a "positive" rating and a $254.00 price target for the company. Finally, Morgan Stanley cut their price target on shares of Madison Square Garden from $235.00 to $215.00 and set an "equal weight" rating on the stock in a research note on Monday, May 5th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $252.60.

Madison Square Garden Stock Performance

NYSE MSGS traded down $2.27 during trading on Friday, reaching $199.83. 143,448 shares of the company's stock were exchanged, compared to its average volume of 152,246. The company has a 50 day moving average price of $199.30 and a two-hundred day moving average price of $199.26. The Madison Square Garden Company has a 1 year low of $173.26 and a 1 year high of $237.99. The stock has a market cap of $4.80 billion, a P/E ratio of 962.38 and a beta of 0.79.

Madison Square Garden (NYSE:MSGS - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of $1.48 by ($2.07). The business had revenue of $424.20 million during the quarter, compared to analysts' expectations of $436.84 million. Madison Square Garden had a net margin of 0.45% and a negative return on equity of 1.76%. The firm's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.57 EPS. Research analysts forecast that The Madison Square Garden Company will post 0.73 EPS for the current fiscal year.

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.