Atria Wealth Solutions Inc. Raises Stock Position in The Madison Square Garden Company (NYSE:MSGS)

Atria Wealth Solutions Inc. boosted its position in shares of The Madison Square Garden Company (NYSE:MSGS) by 100.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,100 shares of the company’s stock after purchasing an additional 1,550 shares during the period. Atria Wealth Solutions Inc.’s holdings in Madison Square Garden were worth $604,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MSGS. Putney Financial Group LLC purchased a new position in Madison Square Garden during the fourth quarter worth about $28,000. Heck Capital Advisors LLC purchased a new position in Madison Square Garden during the fourth quarter worth about $43,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Madison Square Garden during the fourth quarter valued at about $92,000. Obermeyer Wealth Partners acquired a new stake in shares of Madison Square Garden during the fourth quarter valued at about $202,000. Finally, Cetera Investment Advisers acquired a new stake in shares of Madison Square Garden during the fourth quarter valued at about $203,000. 68.94% of the stock is owned by hedge funds and other institutional investors.

Madison Square Garden Stock Performance

Shares of MSGS stock opened at $194.77 on Thursday. The stock has a market capitalization of $4.68 billion, a P/E ratio of -211.71 and a beta of 0.79. The company has a 50 day moving average price of $201.22 and a 200 day moving average price of $198.22. The Madison Square Garden Company has a fifty-two week low of $173.26 and a fifty-two week high of $237.99.

Madison Square Garden (NYSE:MSGS) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.35. The firm had revenue of $203.96 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 earnings per share. On average, research analysts forecast that The Madison Square Garden Company will post 0.73 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on MSGS. Susquehanna began coverage on shares of Madison Square Garden in a research report on Monday, April 28th. They set a “positive” rating and a $254.00 price target for the company. Guggenheim reiterated a “buy” rating and set a $314.00 price target on shares of Madison Square Garden in a research report on Tuesday, May 6th. JPMorgan Chase & Co. dropped 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 report on Monday, May 5th. Finally, Morgan Stanley lifted their price target 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $253.60.

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.