R Squared Ltd Takes $387,000 Position in The Madison Square Garden Company (NYSE:MSGS)

Key Points

• R Squared Ltd has invested approximately $387,000 in The Madison Square Garden Company, acquiring 1,990 shares in the first quarter.
• Research analysts' ratings for MSGS include a mix of "buy" and "hold," with average price targets ranging from $215.00 to $314.00.
• Madison Square Garden reported a loss of ($0.59) EPS for the last quarter, missing analysts' consensus estimates and showing a year-over-year revenue decline of 1.3%.

R Squared Ltd purchased a new stake in The Madison Square Garden Company (NYSE:MSGS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,990 shares of the company's stock, valued at approximately $387,000.

Several other hedge funds have also recently bought and sold shares of MSGS. Principal Financial Group Inc. boosted its holdings in Madison Square Garden by 2.4% in the first quarter. Principal Financial Group Inc. now owns 83,241 shares of the company's stock worth $16,209,000 after purchasing an additional 1,989 shares during the period. Systematic Financial Management LP boosted its holdings in Madison Square Garden by 1.5% in the fourth quarter. Systematic Financial Management LP now owns 126,249 shares of the company's stock worth $28,492,000 after purchasing an additional 1,922 shares during the period. QRG Capital Management Inc. acquired a new position in Madison Square Garden in the first quarter worth $250,000. Central Pacific Bank Trust Division boosted its holdings in Madison Square Garden by 29.4% in the first quarter. Central Pacific Bank Trust Division now owns 6,600 shares of the company's stock worth $1,285,000 after purchasing an additional 1,500 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Madison Square Garden by 523.2% in the first quarter. Victory Capital Management Inc. now owns 347,800 shares of the company's stock worth $67,724,000 after purchasing an additional 291,989 shares during the period. Hedge funds and other institutional investors own 68.94% of the company's stock.

Wall Street Analyst Weigh In

MSGS has been the subject of several analyst reports. Susquehanna initiated coverage on shares of Madison Square Garden in a report on Monday, April 28th. They set a "positive" rating and a $254.00 price target for the company. Morgan Stanley reduced their price target 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. JPMorgan Chase & Co. reduced their price target 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. Finally, Guggenheim reissued a "buy" rating and set a $314.00 price target on shares of Madison Square Garden in a report on Tuesday, May 6th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Madison Square Garden presently has a consensus rating of "Moderate Buy" and a consensus target price of $252.60.

Madison Square Garden Stock Up 1.2%

Shares of MSGS stock traded up $2.37 during trading hours on Monday, reaching $201.92. 94,683 shares of the company's stock were exchanged, compared to its average volume of 159,419. The Madison Square Garden Company has a fifty-two week low of $173.26 and a fifty-two week high of $237.99. The stock has a market capitalization of $4.85 billion, a P/E ratio of 950.24 and a beta of 0.79. The business has a fifty day moving average price of $199.49 and a 200-day moving average price of $198.94.

Madison Square Garden (NYSE:MSGS - Get Free Report) last issued its 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 firm had revenue of $424.20 million during the quarter, compared to analyst estimates 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 revenue for the quarter 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, research analysts expect that The Madison Square Garden Company will post 0.73 EPS for the current fiscal year.

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.