Victory Capital Management Inc. Increases Holdings in The Madison Square Garden Company (NYSE:MSGS)

Victory Capital Management Inc. boosted its stake in The Madison Square Garden Company (NYSE:MSGS - Free Report) by 523.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 347,800 shares of the company's stock after purchasing an additional 291,989 shares during the period. Victory Capital Management Inc. owned about 1.45% of Madison Square Garden worth $67,724,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Putney Financial Group LLC acquired a new position in shares of Madison Square Garden during the fourth quarter worth about $28,000. Heck Capital Advisors LLC acquired a new position in Madison Square Garden during the fourth quarter worth about $43,000. Headlands Technologies LLC grew its position in Madison Square Garden by 1,016.7% during the fourth quarter. Headlands Technologies LLC now owns 268 shares of the company's stock worth $60,000 after buying an additional 244 shares during the period. Covestor Ltd grew its position in Madison Square Garden by 30,600.0% during the fourth quarter. Covestor Ltd now owns 307 shares of the company's stock worth $69,000 after buying an additional 306 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new position in Madison Square Garden during the fourth quarter worth about $92,000. Institutional investors and hedge funds own 68.94% of the company's stock.

Madison Square Garden Trading Down 1.7%

Shares of NYSE:MSGS traded down $3.48 during mid-day trading on Monday, reaching $204.93. The stock had a trading volume of 146,384 shares, compared to its average volume of 126,429. The firm has a market cap of $4.92 billion, a PE ratio of 992.43 and a beta of 0.79. The firm has a 50 day simple moving average of $197.88 and a two-hundred day simple moving average of $199.84. The Madison Square Garden Company has a twelve month low of $173.26 and a twelve month high of $237.99.

Madison Square Garden (NYSE:MSGS - Get Free Report) last released its earnings results on Friday, May 2nd. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of $1.48 by ($2.07). Madison Square Garden had a net margin of 0.45% and a negative return on equity of 1.76%. The firm had revenue of $424.20 million during the quarter, compared to the consensus estimate of $436.84 million. During the same period in the prior year, the business posted $1.57 earnings per share. Madison Square Garden's quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities analysts anticipate that The Madison Square Garden Company will post 0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on MSGS. Susquehanna began coverage on shares of Madison Square Garden in a research report on Monday, April 28th. They issued a "positive" rating and a $254.00 price objective for the company. Morgan Stanley dropped their price objective on shares of Madison Square Garden from $235.00 to $215.00 and set an "equal weight" rating for the company in a research report on Monday, May 5th. JPMorgan Chase & Co. lowered 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 reaffirmed 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $252.60.

Madison Square Garden Company 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.