1,379 Shares in The Madison Square Garden Company $MSGS Bought by Vident Advisory LLC

Key Points

• Vident Advisory LLC acquired a new stake of 1,379 shares in The Madison Square Garden Company, valued at approximately $269,000, during Q1 2023.
• Madison Square Garden reported earnings of ($0.07) per share for the last quarter, exceeding analyst expectations and generating revenue of $203.96 million.
• Equities analysts currently rate Madison Square Garden as a "Moderate Buy," with an average price target of $258.83.

Vident Advisory LLC bought a new position in The Madison Square Garden Company (NYSE:MSGS - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,379 shares of the company's stock, valued at approximately $269,000.

Several other hedge funds also recently bought and sold shares of MSGS. Putney Financial Group LLC acquired a new position in Madison Square Garden in the 4th quarter worth about $28,000. Heck Capital Advisors LLC bought a new stake in shares of Madison Square Garden during the 4th quarter worth about $43,000. Covestor Ltd boosted its stake 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 acquiring an additional 109 shares in the last quarter. Obermeyer Wealth Partners bought a new stake in shares of Madison Square Garden during the 4th quarter worth about $202,000. Finally, Cetera Investment Advisers bought a new stake in shares of Madison Square Garden during the 4th quarter worth about $203,000. 68.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on MSGS shares. Morgan Stanley upped their price target on Madison Square Garden from $215.00 to $220.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 13th. Citigroup assumed coverage on Madison Square Garden in a research note on Tuesday, September 9th. They set a "buy" rating and a $285.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $258.83.

Madison Square Garden Price Performance

Shares of MSGS traded down $1.88 during mid-day trading on Monday, reaching $211.15. The company had a trading volume of 195,313 shares, compared to its average volume of 176,659. The Madison Square Garden Company has a twelve month low of $173.26 and a twelve month high of $237.99. The company's 50-day moving average is $201.71 and its 200-day moving average is $196.41. The company has a market capitalization of $5.07 billion, a P/E ratio of -229.51 and a beta of 0.78.

Madison Square Garden (NYSE:MSGS - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.42) by $0.35. Madison Square Garden had a negative return on equity of 1.76% and a negative net margin of 2.16%.The business had revenue of $203.96 million during the quarter, compared to analysts' expectations of $151.00 million. During the same period in the prior year, the firm posted $1.06 EPS. Madison Square Garden's quarterly revenue was down 10.3% compared to the same quarter last year. As a group, equities analysts expect that The Madison Square Garden Company will post 0.73 EPS 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.