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

Victory Capital Management Inc. increased its stake in shares of The Madison Square Garden Company (NYSE:MSGS) by 523.2% in the first quarter, Holdings Channel.com reports. 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.’s holdings in Madison Square Garden were worth $67,724,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Putney Financial Group LLC purchased a new position in Madison Square Garden in the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC acquired a new stake in shares of Madison Square Garden during the 4th quarter worth approximately $43,000. Headlands Technologies LLC lifted its stake in shares of Madison Square Garden by 1,016.7% during the fourth quarter. Headlands Technologies LLC now owns 268 shares of the company’s stock valued at $60,000 after acquiring an additional 244 shares during the period. Covestor Ltd raised its holdings 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 acquiring an additional 306 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Madison Square Garden in the 4th quarter valued at $92,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Wall Street Analysts Forecast Growth

MSGS has been the topic of a number of analyst reports. Susquehanna began coverage on shares of Madison Square Garden in a report on Monday, April 28th. They set a “positive” rating and a $254.00 target price on the stock. Morgan Stanley lowered their price target on shares of Madison Square Garden from $235.00 to $215.00 and set an “equal weight” rating on the stock in a report on Monday, May 5th. JPMorgan Chase & Co. decreased 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 research note on Monday, May 5th. Finally, Guggenheim reaffirmed a “buy” rating and set a $314.00 price objective on shares of Madison Square Garden in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Madison Square Garden currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.60.

Madison Square Garden Stock Up 1.0%

MSGS opened at $210.69 on Friday. The Madison Square Garden Company has a 52 week low of $173.26 and a 52 week high of $237.99. The business’s fifty day simple moving average is $197.55 and its 200 day simple moving average is $200.30. The stock has a market cap of $5.06 billion, a PE ratio of 1,003.31 and a beta of 0.79.

Madison Square Garden (NYSE:MSGS) last issued its earnings results on Friday, May 2nd. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($2.07). Madison Square Garden had a negative return on equity of 1.76% and a net margin of 0.45%. The company had revenue of $424.20 million during the quarter, compared to the consensus estimate of $436.84 million. During the same quarter in the prior year, the company earned $1.57 earnings per share. Madison Square Garden’s revenue was down 1.3% on a year-over-year basis. As a group, equities analysts anticipate that The Madison Square Garden Company will post 0.73 earnings per share for the current year.

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.