Greenhouse Funds LLLP Buys 13,707 Shares of The Madison Square Garden Company $MSGS

Key Points

• Greenhouse Funds LLLP increased its stake in The Madison Square Garden Company by 3.5%, making it the fund's 9th largest position with a total of 408,327 shares valued at approximately $79.5 million.
• Madison Square Garden reported a net loss per share of ($0.07) in its latest earnings report, beating estimates, while revenue was down 10.3% year-over-year.
• Analysts have a Moderate Buy average rating on the stock with a target price of $253.60, noting a recent rating upgrade from Morgan Stanley.

Greenhouse Funds LLLP raised its holdings in The Madison Square Garden Company (NYSE:MSGS - Free Report) by 3.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 408,327 shares of the company's stock after acquiring an additional 13,707 shares during the period. Madison Square Garden makes up approximately 3.7% of Greenhouse Funds LLLP's investment portfolio, making the stock its 9th largest position. Greenhouse Funds LLLP owned about 1.70% of Madison Square Garden worth $79,509,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Putney Financial Group LLC acquired a new stake in shares of Madison Square Garden during the 4th quarter worth approximately $28,000. Heck Capital Advisors LLC acquired a new stake in shares of Madison Square Garden during the 4th quarter worth approximately $43,000. Covestor Ltd increased its holdings in shares of Madison Square Garden by 35.5% during the 1st quarter. Covestor Ltd now owns 416 shares of the company's stock worth $81,000 after buying an additional 109 shares during the last quarter. Obermeyer Wealth Partners acquired a new stake in shares of Madison Square Garden during the 4th quarter worth approximately $202,000. Finally, Cetera Investment Advisers acquired a new stake in shares of Madison Square Garden during the 4th quarter worth approximately $203,000. Institutional investors and hedge funds own 68.94% of the company's stock.

Madison Square Garden Stock Up 1.6%

MSGS stock traded up $3.23 during midday trading on Tuesday, hitting $206.22. The company's stock had a trading volume of 251,680 shares, compared to its average volume of 157,945. The firm has a market capitalization of $4.95 billion, a P/E ratio of -224.38 and a beta of 0.78. The firm has a 50-day simple moving average of $201.42 and a 200-day simple moving average of $196.17. The Madison Square Garden Company has a 52-week low of $173.26 and a 52-week high of $237.99.

Madison Square Garden (NYSE:MSGS - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.35. The business 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%. The company's revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.06 EPS. On average, sell-side analysts expect that The Madison Square Garden Company will post 0.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MSGS shares. Citigroup began coverage on shares of Madison Square Garden in a report on Tuesday. They set a "buy" rating and a $285.00 price target for the company. Morgan Stanley raised their price target on shares of Madison Square Garden from $215.00 to $220.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 13th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $258.83.

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.