Quantbot Technologies LP Buys Shares of 10,238 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 bought a new position in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,238 shares of the company's stock, valued at approximately $1,994,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. NewEdge Advisors LLC grew its position in Madison Square Garden by 2.2% in the fourth quarter. NewEdge Advisors LLC now owns 2,914 shares of the company's stock worth $658,000 after acquiring an additional 62 shares during the period. Marest Capital LLC raised its position in shares of Madison Square Garden by 4.1% during the 1st quarter. Marest Capital LLC now owns 1,751 shares of the company's stock worth $341,000 after purchasing an additional 69 shares during the last quarter. Resona Asset Management Co. Ltd. grew its stake in Madison Square Garden by 2.8% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 2,873 shares of the company's stock worth $559,000 after acquiring an additional 79 shares during the period. Covestor Ltd grew 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 during the period. Finally, Putney Financial Group LLC purchased a new stake in Madison Square Garden during the 4th quarter worth $28,000. 68.94% of the stock is owned by institutional investors.

Madison Square Garden Stock Down 0.5%

NYSE:MSGS traded down $0.95 during trading hours on Wednesday, reaching $196.04. The company had a trading volume of 19,650 shares, compared to its average volume of 155,483. The Madison Square Garden Company has a twelve month low of $173.26 and a twelve month high of $237.99. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of -213.30 and a beta of 0.79. The business's 50-day simple moving average is $202.51 and its two-hundred day simple moving average is $196.94.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on MSGS. 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 report on Monday, May 5th. Morgan Stanley raised their price target on shares of Madison Square Garden from $215.00 to $220.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 13th. Finally, Guggenheim reiterated a "buy" rating and issued a $314.00 price objective on shares of Madison Square Garden in a research note on Tuesday, May 6th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $253.60.

About Madison Square Garden

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.