Odyssean LLC Has $3.10 Million Stake in The Madison Square Garden Company $MSGS

Key Points

• Odyssean LLC increased its Madison Square Garden stake by 64.4% in the second quarter, owning 7,728 shares valued at approximately $3.1 million. Institutional investors collectively own 68.94% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $471.20. Several firms recently raised their targets, including Guggenheim to $584.
• MSGS reported quarterly EPS of $1.16, exceeding the $0.64 consensus estimate, while revenue rose 36.6% year over year to $278.75 million. Shares opened at $391.29, within a one-year range of $194.25 to $438.93.

Odyssean LLC raised its stake in The Madison Square Garden Company (NYSE:MSGS - Free Report) by 64.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,728 shares of the company's stock after acquiring an additional 3,028 shares during the quarter. Odyssean LLC's holdings in Madison Square Garden were worth $3,105,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MSGS. Price T Rowe Associates Inc. MD lifted its stake in Madison Square Garden by 67.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 699,378 shares of the company's stock valued at $180,895,000 after purchasing an additional 282,318 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Madison Square Garden by 8.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 648,515 shares of the company's stock worth $167,739,000 after buying an additional 49,412 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Madison Square Garden by 1.1% during the fourth quarter. Gamco Investors INC. ET AL now owns 613,391 shares of the company's stock worth $158,654,000 after buying an additional 6,873 shares in the last quarter. State Street Corp lifted its stake in shares of Madison Square Garden by 3.0% in the 4th quarter. State Street Corp now owns 538,404 shares of the company's stock valued at $139,258,000 after acquiring an additional 15,656 shares during the last quarter. Finally, Gabelli Funds LLC boosted its holdings in shares of Madison Square Garden by 0.9% during the 4th quarter. Gabelli Funds LLC now owns 394,292 shares of the company's stock valued at $101,984,000 after acquiring an additional 3,607 shares in the last quarter. 68.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on MSGS. Weiss Ratings upgraded Madison Square Garden from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 14th. Guggenheim upped their price target on shares of Madison Square Garden from $522.00 to $584.00 and gave the company a "buy" rating in a research report on Friday, August 14th. Morgan Stanley raised shares of Madison Square Garden from an "equal weight" rating to an "overweight" rating and set a $450.00 price target for the company in a research note on Wednesday, July 15th. Susquehanna lifted their price target on shares of Madison Square Garden from $430.00 to $477.00 and gave the stock a "positive" rating in a report on Friday, August 14th. Finally, Seaport Research Partners boosted their price objective on shares of Madison Square Garden from $430.00 to $435.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Madison Square Garden presently has a consensus rating of "Hold" and an average target price of $471.20.

Madison Square Garden Price Performance

Shares of MSGS stock opened at $391.29 on Friday. The business's 50 day simple moving average is $395.46 and its 200 day simple moving average is $359.47. The Madison Square Garden Company has a one year low of $194.25 and a one year high of $438.93. The stock has a market capitalization of $9.42 billion, a PE ratio of 1,304.34 and a beta of 0.60.

Madison Square Garden (NYSE:MSGS - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.52. The firm had revenue of $278.75 million during the quarter, compared to analyst estimates of $227.67 million. Madison Square Garden had a net margin of 0.67% and a negative return on equity of 3.47%. The company's revenue was up 36.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.07) EPS. As a group, research analysts expect that The Madison Square Garden Company will post -0.8 earnings per share for the current year.

Madison Square Garden Profile

Madison Square Garden Sports Corp NYSE: MSGS is a leading sports and entertainment holding company focused on professional sports franchises and related media assets. The company owns and operates teams such as the NBA's New York Knicks, the NHL's New York Rangers and the WNBA's New York Liberty. Through these flagship franchises, MSG Sports offers a range of products and services including ticketing, premium seating and sponsorship opportunities, targeting fans in the New York metropolitan area and beyond.

In addition to team operations, Madison Square Garden Sports Corp holds a majority stake in MSG Networks, a regional cable network that broadcasts live sporting events, news and original programming.

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