Nomura Holdings Inc. Has $8.33 Million Position in The Madison Square Garden Company $MSGS

Key Points

• Nomura Holdings Inc. has reduced its stake in The Madison Square Garden Company by 4.5%, now owning 42,790 shares valued at approximately $8.3 million.
• Several hedge funds have increased their ownership of Madison Square Garden, including Victory Capital Management, which raised its stake by 523.2% to 347,800 shares.
• Analysts have mixed views on Madison Square Garden's stock, with price targets ranging from $220 to $314, reflecting a consensus rating of "Moderate Buy."

Nomura Holdings Inc. lowered its holdings in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) by 4.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,790 shares of the company's stock after selling 2,000 shares during the period. Nomura Holdings Inc. owned about 0.18% of Madison Square Garden worth $8,332,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MSGS. Marest Capital LLC raised its holdings in shares of Madison Square Garden by 4.1% in the first quarter. Marest Capital LLC now owns 1,751 shares of the company's stock valued at $341,000 after buying an additional 69 shares during the last quarter. Resona Asset Management Co. Ltd. raised its holdings in shares of Madison Square Garden by 2.8% in the first quarter. Resona Asset Management Co. Ltd. now owns 2,873 shares of the company's stock valued at $559,000 after buying an additional 79 shares during the last quarter. Covestor Ltd raised its holdings in shares of Madison Square Garden by 35.5% in the first quarter. Covestor Ltd now owns 416 shares of the company's stock valued at $81,000 after buying an additional 109 shares during the last quarter. Putney Financial Group LLC bought a new position in shares of Madison Square Garden in the fourth quarter valued at about $28,000. Finally, Captrust Financial Advisors raised its holdings in shares of Madison Square Garden by 12.4% in the fourth quarter. Captrust Financial Advisors now owns 1,442 shares of the company's stock valued at $325,000 after buying an additional 159 shares during the last quarter. Institutional investors and hedge funds own 68.94% of the company's stock.

Analysts Set New Price Targets

Separately, Morgan Stanley lifted their price target on Madison Square Garden from $215.00 to $220.00 and gave the company an "equal weight" rating in a report on Wednesday, August 13th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $253.60.

Madison Square Garden Stock Performance

NYSE:MSGS traded up $0.33 on Thursday, hitting $196.23. 201,380 shares of the stock were exchanged, compared to its average volume of 157,146. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of -213.29 and a beta of 0.78. The Madison Square Garden Company has a 52 week low of $173.26 and a 52 week high of $237.99. The company's 50-day moving average price is $201.99 and its 200 day moving average price is $196.49.

Madison Square Garden (NYSE:MSGS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.35. The firm had revenue of $203.96 million during the quarter, compared to analysts' expectations 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 quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.06 EPS. As a group, equities research analysts predict that The Madison Square Garden Company will post 0.73 earnings per share for the current 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.