The Madison Square Garden Company (NYSE:MSGS) Short Interest Up 33.0% in August

The Madison Square Garden Company (NYSE:MSGS - Get Free Report) was the target of a significant growth in short interest in the month of August. As of August 15th, there was short interest totaling 764,800 shares, agrowthof33.0% from the July 31st total of 575,200 shares. Based on an average trading volume of 191,000 shares, the days-to-cover ratio is presently 4.0 days. Approximately4.5% of the shares of the company are short sold. Approximately4.5% of the shares of the company are short sold. Based on an average trading volume of 191,000 shares, the days-to-cover ratio is presently 4.0 days.

Analysts Set New Price Targets

Separately, Morgan Stanley boosted their target price 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. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Madison Square Garden currently has an average rating of "Moderate Buy" and a consensus target price of $253.60.

Madison Square Garden Price Performance

Shares of Madison Square Garden stock opened at $203.04 on Tuesday. The firm has a market capitalization of $4.87 billion, a PE ratio of -220.69 and a beta of 0.78. The company's fifty day moving average price is $201.42 and its two-hundred day moving average price is $196.17. Madison Square Garden has a 52-week low of $173.26 and a 52-week high of $237.99.

Madison Square Garden (NYSE:MSGS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.35. The firm had revenue of $203.96 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.06 EPS. Analysts predict that Madison Square Garden will post 0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Madison Square Garden

Several institutional investors and hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its stake 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 in the last quarter. Norges Bank acquired a new stake in shares of Madison Square Garden in the 2nd quarter valued at $39,215,000. GAMMA Investing LLC boosted its stake 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 in the last quarter. Bollard Group LLC acquired a new stake in shares of Madison Square Garden in the 2nd quarter valued at $25,283,000. Finally, Scopus Asset Management L.P. acquired a new stake in shares of Madison Square Garden in the 2nd quarter valued at $14,787,000. Institutional investors own 68.94% of the company's stock.

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.

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