MQS Management LLC Has $237,000 Stake in The Madison Square Garden Company $MSGS

MQS Management LLC trimmed its stake in shares of The Madison Square Garden Company (NYSE:MSGS) by 66.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,136 shares of the company’s stock after selling 2,205 shares during the period. MQS Management LLC’s holdings in Madison Square Garden were worth $237,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in Madison Square Garden by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 83,241 shares of the company’s stock valued at $16,209,000 after buying an additional 1,989 shares during the last quarter. Atria Wealth Solutions Inc. increased its stake in Madison Square Garden by 100.0% in the 1st quarter. Atria Wealth Solutions Inc. now owns 3,100 shares of the company’s stock valued at $604,000 after buying an additional 1,550 shares during the last quarter. Virtu Financial LLC acquired a new stake in Madison Square Garden in the 1st quarter valued at $575,000. Inspire Trust Co. N.A. increased its stake in Madison Square Garden by 28.6% in the 1st quarter. Inspire Trust Co. N.A. now owns 9,000 shares of the company’s stock valued at $1,752,000 after buying an additional 2,000 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in 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 buying an additional 291,989 shares during the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Stock Performance

Shares of MSGS stock opened at $227.65 on Tuesday. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of -247.45 and a beta of 0.78. The company has a 50-day simple moving average of $213.55 and a 200 day simple moving average of $202.73. The Madison Square Garden Company has a 52 week low of $173.26 and a 52 week high of $237.99.

Madison Square Garden (NYSE:MSGS) last announced its earnings results on Tuesday, August 12th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.35. Madison Square Garden had a negative net margin of 2.16% and a negative return on equity of 1.76%. The business had revenue of $203.96 million during the quarter, compared to the consensus estimate of $151.00 million. During the same quarter in the previous year, the firm posted $1.06 EPS. Madison Square Garden’s revenue was down 10.3% compared to the same quarter last year. Sell-side analysts forecast that The Madison Square Garden Company will post 0.73 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MSGS shares. Citigroup started coverage on shares of Madison Square Garden in a research note on Tuesday, September 9th. They issued a “buy” rating and a $285.00 price target on the stock. Zacks Research raised shares of Madison Square Garden from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Weiss Ratings raised shares of Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday. BTIG Research started coverage on shares of Madison Square Garden in a research report on Tuesday, October 7th. They issued a “neutral” rating for the company. Finally, Morgan Stanley lifted their price objective on shares of Madison Square Garden from $215.00 to $220.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 13th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.