SG Americas Securities LLC Increases Stock Holdings in The Madison Square Garden Company (NYSE:MSGS)

SG Americas Securities LLC grew its holdings in shares of The Madison Square Garden Company (NYSE:MSGS) by 42.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,310 shares of the company’s stock after buying an additional 1,275 shares during the period. SG Americas Securities LLC’s holdings in Madison Square Garden were worth $839,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC bought a new position in Madison Square Garden in the 4th quarter valued at approximately $419,000. Allworth Financial LP boosted its position in shares of Madison Square Garden by 81.4% during the fourth quarter. Allworth Financial LP now owns 127 shares of the company’s stock worth $28,000 after acquiring an additional 57 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Madison Square Garden by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 81,252 shares of the company’s stock valued at $18,337,000 after purchasing an additional 2,443 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Madison Square Garden by 11.5% during the 4th quarter. Handelsbanken Fonder AB now owns 3,872 shares of the company’s stock worth $874,000 after acquiring an additional 400 shares in the last quarter. Finally, First Bank & Trust purchased a new position in shares of Madison Square Garden in the 4th quarter worth $205,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Wall Street Analysts Forecast Growth

MSGS has been the subject of several recent analyst reports. 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. Susquehanna initiated 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 cut their target price on Madison Square Garden from $235.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Monday, May 5th. JPMorgan Chase & Co. lowered their price objective on Madison Square Garden from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Finally, Macquarie raised their price target on shares of Madison Square Garden from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $252.60.

Madison Square Garden Stock Up 2.2%

Shares of MSGS stock opened at $190.95 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 has a 50-day simple moving average of $191.29 and a 200-day simple moving average of $203.25. The stock has a market cap of $4.58 billion, a PE ratio of 909.33 and a beta of 0.77.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings results on Friday, May 2nd. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($2.07). The business had revenue of $424.20 million during the quarter, compared to analyst estimates of $436.84 million. Madison Square Garden had a negative return on equity of 1.76% and a net margin of 0.45%. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.57 EPS. Sell-side analysts anticipate that The Madison Square Garden Company will post 0.73 earnings per share for the current fiscal year.

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.