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

MQS Management LLC bought 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 and Exchange Commission. The firm bought 3,341 shares of the company's stock, valued at approximately $651,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MSGS. Putney Financial Group LLC bought a new position in Madison Square Garden during the fourth quarter worth about $28,000. Heck Capital Advisors LLC bought a new stake in Madison Square Garden during the fourth quarter worth about $43,000. Headlands Technologies LLC raised its holdings in Madison Square Garden by 1,016.7% during 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 raised its holdings in Madison Square Garden by 30,600.0% during 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 acquired a new position in Madison Square Garden during the fourth quarter worth approximately $92,000. 68.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MSGS has been the topic of several research reports. Susquehanna initiated coverage on Madison Square Garden in a research report on Monday, April 28th. They issued a "positive" rating and a $254.00 target price on the stock. Guggenheim reiterated a "buy" rating and issued a $314.00 price target on shares of Madison Square Garden in a research note on Tuesday, May 6th. Morgan Stanley cut their price target on Madison Square Garden from $235.00 to $215.00 and set an "equal weight" rating for the company in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. cut their price target on 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. 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, the company has an average rating of "Moderate Buy" and a consensus price target of $252.60.

Madison Square Garden Price Performance

NYSE MSGS opened at $206.42 on Friday. The business has a fifty day moving average price of $196.15 and a two-hundred day moving average price of $200.57. The Madison Square Garden Company has a fifty-two week low of $173.26 and a fifty-two week high of $237.99. The stock has a market capitalization of $4.96 billion, a PE ratio of 983.01 and a beta of 0.79.

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

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