QRG Capital Management Inc. Invests $250,000 in The Madison Square Garden Company (NYSE:MSGS)

QRG Capital Management Inc. purchased a new position in The Madison Square Garden Company (NYSE:MSGS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,284 shares of the company's stock, valued at approximately $250,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. raised its position in shares of Madison Square Garden by 1,854.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 498,607 shares of the company's stock valued at $112,526,000 after purchasing an additional 473,090 shares in the last quarter. Norges Bank bought a new stake in shares of Madison Square Garden in the fourth quarter worth $54,052,000. GAMMA Investing LLC increased its stake in shares of Madison Square Garden by 14,886.7% in the first quarter. GAMMA Investing LLC now owns 137,278 shares of the company's stock worth $26,731,000 after buying an additional 136,362 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in Madison Square Garden in the fourth quarter valued at $16,844,000. Finally, Balyasny Asset Management L.P. boosted its stake in Madison Square Garden by 89.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 127,556 shares of the company's stock valued at $28,787,000 after acquiring an additional 60,112 shares during the last quarter. Hedge funds and other institutional investors own 68.94% of the company's stock.

Analyst Ratings Changes

MSGS has been the subject of several recent analyst reports. Morgan Stanley decreased their price objective on shares of 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. 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. Susquehanna assumed coverage on Madison Square Garden in a report on Monday, April 28th. They issued a "positive" rating and a $254.00 price objective for the company. JPMorgan Chase & Co. cut their price objective on Madison Square Garden from $240.00 to $230.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Finally, Macquarie lifted their target price on Madison Square Garden from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Madison Square Garden has an average rating of "Moderate Buy" and a consensus target price of $252.60.

Madison Square Garden Stock Performance

NYSE MSGS opened at $207.82 on Tuesday. The Madison Square Garden Company has a one year low of $173.26 and a one year high of $237.99. The company has a 50-day simple moving average of $191.91 and a 200-day simple moving average of $202.53. The firm has a market capitalization of $4.99 billion, a PE ratio of 989.67 and a beta of 0.77.

Madison Square Garden (NYSE:MSGS - Get Free Report) last issued its earnings results on Friday, May 2nd. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.48 by ($2.07). The business had revenue of $424.20 million during the quarter, compared to the consensus estimate of $436.84 million. Madison Square Garden had a negative return on equity of 1.76% and a net margin of 0.45%. The business's revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.57 EPS. Equities analysts forecast 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.