Goldman Sachs Group Inc. Boosts Holdings in The Madison Square Garden Company $MSGS

Goldman Sachs Group Inc. lifted its stake in The Madison Square Garden Company (NYSE:MSGS) by 28.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,807 shares of the company’s stock after purchasing an additional 5,452 shares during the quarter. Goldman Sachs Group Inc. owned 0.10% of Madison Square Garden worth $4,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Bayforest Capital Ltd purchased a new position in shares of Madison Square Garden in the 1st quarter worth about $566,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Madison Square Garden by 13.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,822 shares of the company’s stock worth $9,701,000 after purchasing an additional 5,896 shares during the last quarter. Empowered Funds LLC raised its position in shares of Madison Square Garden by 10.8% in the 1st quarter. Empowered Funds LLC now owns 2,055 shares of the company’s stock worth $400,000 after purchasing an additional 200 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Madison Square Garden in the 1st quarter worth about $210,000. Finally, Clearline Capital LP raised its position in shares of Madison Square Garden by 3.6% in the 1st quarter. Clearline Capital LP now owns 97,691 shares of the company’s stock worth $19,022,000 after purchasing an additional 3,400 shares during the last quarter. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MSGS. Morgan Stanley boosted their target price on 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. Citigroup began coverage on Madison Square Garden in a research report on Tuesday, September 9th. They issued a “buy” rating and a $285.00 target price for the company. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $258.83.

Madison Square Garden Trading Up 1.9%

Shares of NYSE:MSGS opened at $215.00 on Wednesday. The stock has a 50 day moving average of $201.95 and a 200 day moving average of $196.54. The company has a market cap of $5.16 billion, a PE ratio of -233.70 and a beta of 0.78. The Madison Square Garden Company has a 12-month low of $173.26 and a 12-month 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 (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.35. The company had revenue of $203.96 million during the quarter, compared to the consensus estimate of $151.00 million. Madison Square Garden had a negative return on equity of 1.76% and a negative net margin of 2.16%.The firm’s revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.06 EPS. Equities research analysts predict that The Madison Square Garden Company will post 0.73 earnings per share for the current fiscal year.

Madison Square Garden 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.