Principal Financial Group Inc. Boosts Holdings in The Madison Square Garden Company (NYSE:MSGS)

Principal Financial Group Inc. boosted its position in The Madison Square Garden Company (NYSE:MSGS - Free Report) by 2.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 83,241 shares of the company's stock after purchasing an additional 1,989 shares during the period. Principal Financial Group Inc. owned about 0.35% of Madison Square Garden worth $16,209,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Putney Financial Group LLC bought a new stake in Madison Square Garden in the 4th quarter worth about $28,000. Heck Capital Advisors LLC bought a new position in shares of Madison Square Garden during the 4th quarter valued at approximately $43,000. Headlands Technologies LLC grew its position in shares of Madison Square Garden by 1,016.7% during the 4th quarter. Headlands Technologies LLC now owns 268 shares of the company's stock valued at $60,000 after acquiring an additional 244 shares during the period. Covestor Ltd grew its position in shares of Madison Square Garden by 30,600.0% during the 4th quarter. Covestor Ltd now owns 307 shares of the company's stock valued at $69,000 after acquiring an additional 306 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Madison Square Garden during the 4th quarter valued at approximately $92,000. 68.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MSGS. Susquehanna began coverage on shares of Madison Square Garden in a research report on Monday, April 28th. They set a "positive" rating and a $254.00 target price for the company. Guggenheim reissued a "buy" rating and set a $314.00 target price on shares of Madison Square Garden in a research report on Tuesday, May 6th. JPMorgan Chase & Co. reduced 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 report on Monday, May 5th. Finally, Morgan Stanley reduced their target price on shares of Madison Square Garden from $235.00 to $215.00 and set an "equal weight" rating for the company in a research report on Monday, May 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Madison Square Garden presently has an average rating of "Moderate Buy" and a consensus target price of $252.60.

Madison Square Garden Trading Up 1.3%

Shares of MSGS stock traded up $2.66 during trading on Friday, reaching $206.42. 170,535 shares of the company's stock traded hands, compared to its average volume of 124,250. The company has a market capitalization of $4.96 billion, a P/E ratio of 980.38 and a beta of 0.79. The firm's 50-day moving average is $196.15 and its 200 day moving average is $200.57. The Madison Square Garden Company has a 1 year low of $173.26 and a 1 year high of $237.99.

Madison Square Garden (NYSE:MSGS - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The company reported ($0.59) EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($2.07). The business had revenue of $424.20 million for 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 business's quarterly 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 earnings per share. As a group, sell-side analysts predict that The Madison Square Garden Company will post 0.73 earnings per share 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.