MQS Management LLC Invests $651,000 in The Madison Square Garden Company (NYSE:MSGS)

MQS Management LLC acquired a new stake in The Madison Square Garden Company (NYSE:MSGS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,341 shares of the company's stock, valued at approximately $651,000.

Several other large investors have also modified their holdings of the company. Banque Pictet & Cie SA acquired a new stake in shares of Madison Square Garden in the first quarter valued at approximately $467,000. Envestnet Asset Management Inc. boosted its holdings in shares of Madison Square Garden by 50.5% in the first quarter. Envestnet Asset Management Inc. now owns 9,687 shares of the company's stock valued at $1,886,000 after acquiring an additional 3,250 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Madison Square Garden by 2.4% in the first quarter. Principal Financial Group Inc. now owns 83,241 shares of the company's stock valued at $16,209,000 after acquiring an additional 1,989 shares during the period. Illinois Municipal Retirement Fund boosted its holdings in shares of Madison Square Garden by 3.1% in the first quarter. Illinois Municipal Retirement Fund now owns 8,953 shares of the company's stock valued at $1,743,000 after acquiring an additional 267 shares during the period. Finally, Congress Park Capital LLC acquired a new stake in shares of Madison Square Garden during the first quarter worth $214,000. 68.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MSGS shares. Susquehanna started 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. Guggenheim reaffirmed a "buy" rating and set a $314.00 price target on shares of Madison Square Garden in a report on Tuesday, May 6th. JPMorgan Chase & Co. decreased their price target on Madison Square Garden from $240.00 to $230.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Finally, Morgan Stanley decreased their price target on Madison Square Garden from $235.00 to $215.00 and set an "equal weight" rating for the company in a report on Monday, May 5th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Madison Square Garden presently has an average rating of "Moderate Buy" and a consensus price target of $252.60.

Madison Square Garden Stock Performance

NYSE:MSGS traded up $4.18 during trading hours on Wednesday, hitting $208.40. The company's stock had a trading volume of 146,364 shares, compared to its average volume of 125,272. The business's 50-day moving average is $197.16 and its two-hundred day moving average is $200.42. The company has a market capitalization of $5.00 billion, a PE ratio of 992.41 and a beta of 0.79. The Madison Square Garden Company has a 52-week low of $173.26 and a 52-week high of $237.99.

Madison Square Garden (NYSE:MSGS - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $424.20 million during the quarter, compared to analysts' expectations of $436.84 million. Madison Square Garden had a negative return on equity of 1.76% and a net margin of 0.45%. The company's revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.57 EPS. As a group, analysts predict that The Madison Square Garden Company will post 0.73 EPS for the current fiscal year.

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.