The Madison Square Garden Company $MSGS Shares Bought by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. increased its holdings in The Madison Square Garden Company by 2.5%, bringing their total ownership to 603,324 shares, which represent about 1.3% of their investment portfolio.
• The Madison Square Garden Company reported earnings of ($0.07) EPS for the last quarter, outperforming analysts' expectations of ($0.42) EPS, with quarterly revenue of $203.96 million.
• Wall Street analysts have a consensus target price of $253.60 for Madison Square Garden, with several analysts rating the stock as a "Moderate Buy."

Gamco Investors INC. ET AL increased its holdings in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 603,324 shares of the company's stock after buying an additional 14,669 shares during the period. Madison Square Garden comprises 1.3% of Gamco Investors INC. ET AL's investment portfolio, making the stock its 10th largest holding. Gamco Investors INC. ET AL owned approximately 2.51% of Madison Square Garden worth $117,479,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MSGS. Victory Capital Management Inc. increased its position in shares of Madison Square Garden by 523.2% in the 1st quarter. Victory Capital Management Inc. now owns 347,800 shares of the company's stock valued at $67,724,000 after purchasing an additional 291,989 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Madison Square Garden by 14,886.7% in the 1st quarter. GAMMA Investing LLC now owns 137,278 shares of the company's stock valued at $26,731,000 after purchasing an additional 136,362 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of Madison Square Garden by 89.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 127,556 shares of the company's stock valued at $28,787,000 after purchasing an additional 60,112 shares during the last quarter. First Trust Advisors LP increased its position in shares of Madison Square Garden by 377.1% in the 4th quarter. First Trust Advisors LP now owns 57,879 shares of the company's stock valued at $13,062,000 after purchasing an additional 45,748 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Madison Square Garden in the 1st quarter valued at approximately $8,585,000. 68.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MSGS has been the topic of a number of recent analyst reports. Guggenheim reissued a "buy" rating and issued a $314.00 price objective on shares of Madison Square Garden in a research report on Tuesday, May 6th. Morgan Stanley upped 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. Finally, JPMorgan Chase & Co. lowered 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. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $253.60.

Madison Square Garden Stock Up 0.6%

NYSE:MSGS traded up $1.25 during trading hours on Friday, reaching $197.79. 192,161 shares of the company's stock were exchanged, compared to its average volume of 208,060. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of -214.99 and a beta of 0.79. The company has a 50-day moving average of $202.62 and a 200 day moving average of $196.70. The Madison Square Garden Company has a 1-year low of $173.26 and a 1-year high of $237.99.

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 for the quarter, topping analysts' consensus estimates of ($0.42) by $0.35. The firm 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 quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.06 EPS. Research analysts forecast 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.