Voleon Capital Management LP Has $532,000 Stake in The Madison Square Garden Company $MSGS

Key Points

• Voleon Capital Management LP reduced its stake in Madison Square Garden Company (MSGS) by 66.1% during the first quarter, selling 5,335 shares and retaining 2,732 shares valued at approximately $532,000.
• Madison Square Garden received an average rating of "Moderate Buy" from analysts, with a price target of $258.83, following recent reports from Citigroup and Morgan Stanley.
• The company reported (-$0.07) earnings per share for the latest quarter, beating estimates, but experienced a 10.3% decline in revenue compared to the prior year.

Voleon Capital Management LP reduced its stake in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) by 66.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,732 shares of the company's stock after selling 5,335 shares during the quarter. Voleon Capital Management LP's holdings in Madison Square Garden were worth $532,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in Madison Square Garden by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 83,241 shares of the company's stock worth $16,209,000 after buying an additional 1,989 shares during the period. Atria Wealth Solutions Inc. increased its holdings in Madison Square Garden by 100.0% during the 1st quarter. Atria Wealth Solutions Inc. now owns 3,100 shares of the company's stock worth $604,000 after purchasing an additional 1,550 shares in the last quarter. Systematic Financial Management LP increased its holdings in Madison Square Garden by 1.5% during the 4th quarter. Systematic Financial Management LP now owns 126,249 shares of the company's stock worth $28,492,000 after purchasing an additional 1,922 shares in the last quarter. QRG Capital Management Inc. bought a new position in Madison Square Garden during the 1st quarter worth about $250,000. Finally, Virtu Financial LLC bought a new position in Madison Square Garden during the 1st quarter worth about $575,000. Institutional investors and hedge funds own 68.94% of the company's stock.

Madison Square Garden Stock Performance

Madison Square Garden stock traded up $1.17 during midday trading on Monday, reaching $214.20. 53,350 shares of the company's stock were exchanged, compared to its average volume of 159,045. The Madison Square Garden Company has a 52 week low of $173.26 and a 52 week high of $237.99. The firm has a market cap of $5.14 billion, a price-to-earnings ratio of -232.82 and a beta of 0.78. The stock's 50-day simple moving average is $201.58 and its 200 day simple moving average is $196.36.

Madison Square Garden (NYSE:MSGS - Get Free Report) last issued 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 firm had revenue of $203.96 million during the quarter, compared to the consensus estimate 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 business's revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period last year, the business posted $1.06 earnings per share. Research analysts forecast that The Madison Square Garden Company will post 0.73 earnings per share for the current year.

Analysts Set New Price Targets

MSGS has been the subject of a number of research reports. Morgan Stanley increased their target price on Madison Square Garden from $215.00 to $220.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 13th. Citigroup initiated coverage on Madison Square Garden in a report on Tuesday, September 9th. They issued a "buy" rating and a $285.00 price objective 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $258.83.

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.