Quantbot Technologies LP Makes New $1.99 Million Investment in The Madison Square Garden Company $MSGS

Key Points

• Quantbot Technologies LP has acquired a new stake in The Madison Square Garden Company, purchasing 10,238 shares valued at approximately $1.99 million.
• Several institutional investors have significantly increased their holdings in Madison Square Garden, with T. Rowe Price increasing by 1,854% and GAMMA Investing growing by as much as 14,886% in the last quarter.
• Madison Square Garden reported a quarterly revenue of $203.96 million, surpassing analyst estimates, while also achieving earnings per share of ($0.07), exceeding expectations by $0.35.

Quantbot Technologies LP purchased a new stake in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 10,238 shares of the company's stock, valued at approximately $1,994,000.

Other institutional investors also recently modified their holdings of the company. Putney Financial Group LLC purchased a new stake in shares of Madison Square Garden during the 4th quarter valued at approximately $28,000. Heck Capital Advisors LLC purchased a new stake in shares of Madison Square Garden during the 4th quarter valued at approximately $43,000. Covestor Ltd lifted its stake in shares of Madison Square Garden by 35.5% during the 1st quarter. Covestor Ltd now owns 416 shares of the company's stock valued at $81,000 after buying an additional 109 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in Madison Square Garden during the 4th quarter worth approximately $92,000. Finally, Obermeyer Wealth Partners bought a new position in shares of Madison Square Garden in the 4th quarter worth $202,000. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

Madison Square Garden Price Performance

NYSE MSGS traded up $0.1890 during trading hours on Monday, reaching $198.8390. 177,457 shares of the company's stock traded hands, compared to its average volume of 156,512. The Madison Square Garden Company has a 52-week low of $173.26 and a 52-week high of $237.99. The firm has a market cap of $4.77 billion, a PE ratio of -216.13 and a beta of 0.79. The firm has a 50-day simple moving average of $202.14 and a 200 day simple moving average of $196.99.

Madison Square Garden (NYSE:MSGS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.42) by $0.35. The company had revenue of $203.96 million during the quarter, compared to analysts' expectations of $151.00 million. Madison Square Garden had a negative net margin of 2.16% and a negative return on equity of 1.76%. Madison Square Garden's revenue was down 10.3% on a year-over-year basis. During the same period last year, the company posted $1.06 EPS. Sell-side analysts forecast that The Madison Square Garden Company will post 0.73 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on MSGS. Guggenheim reaffirmed a "buy" rating and set a $314.00 target price on shares of Madison Square Garden in a report on Tuesday, May 6th. Morgan Stanley increased their target price on shares of Madison Square Garden from $215.00 to $220.00 and gave the company an "equal weight" rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. reduced their target price on shares of Madison Square Garden from $240.00 to $230.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, Susquehanna began coverage on shares of Madison Square Garden in a report on Monday, April 28th. They set a "positive" rating and a $254.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Madison Square Garden has an average rating of "Moderate Buy" and an average price target of $253.60.

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.