The Madison Square Garden Company $MSGS Position Lifted by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. boosted its holdings in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) by 33.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,957 shares of the company's stock after acquiring an additional 8,673 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.15% of Madison Square Garden worth $6,807,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MSGS. Northern Trust Corp increased its stake in shares of Madison Square Garden by 6.2% during the 4th quarter. Northern Trust Corp now owns 116,662 shares of the company's stock worth $26,328,000 after purchasing an additional 6,839 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Madison Square Garden by 12.4% in the fourth quarter. Captrust Financial Advisors now owns 1,442 shares of the company's stock valued at $325,000 after buying an additional 159 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of Madison Square Garden in the fourth quarter valued at approximately $203,000. Deutsche Bank AG raised its position in shares of Madison Square Garden by 0.5% in the fourth quarter. Deutsche Bank AG now owns 75,812 shares of the company's stock valued at $17,109,000 after buying an additional 375 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in shares of Madison Square Garden by 56.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 18,237 shares of the company's stock valued at $4,116,000 after buying an additional 6,606 shares during the last quarter. 68.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MSGS. Citigroup initiated coverage on shares of Madison Square Garden in a research report on Tuesday. They issued a "buy" rating and a $285.00 price objective for the company. Morgan Stanley upped 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. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $258.83.

Madison Square Garden Stock Up 0.7%

Shares of Madison Square Garden stock traded up $1.41 during trading hours on Friday, hitting $213.16. The company's stock had a trading volume of 205,078 shares, compared to its average volume of 184,766. The Madison Square Garden Company has a 1-year low of $173.26 and a 1-year high of $237.99. The business has a fifty day moving average of $201.58 and a 200 day moving average of $196.40. The company has a market capitalization of $5.12 billion, a PE ratio of -231.69 and a beta of 0.78.

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. Madison Square Garden had a negative net margin of 2.16% and a negative return on equity of 1.76%. The company had revenue of $203.96 million during the quarter, compared to analyst estimates of $151.00 million. During the same quarter in the prior year, the business earned $1.06 earnings per share. The business's quarterly revenue was down 10.3% compared to the same quarter last year. On average, sell-side analysts anticipate that The Madison Square Garden Company will post 0.73 earnings per share for the current fiscal year.

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.