The Madison Square Garden Company $MSGS Shares Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS boosted its position in shares of The Madison Square Garden Company (NYSE:MSGS) by 15.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,700 shares of the company’s stock after buying an additional 500 shares during the period. KLP Kapitalforvaltning AS’s holdings in Madison Square Garden were worth $773,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Fifth Third Bancorp grew its position in shares of Madison Square Garden by 59.5% in the second quarter. Fifth Third Bancorp now owns 185 shares of the company’s stock valued at $39,000 after purchasing an additional 69 shares in the last quarter. Covestor Ltd lifted its stake in Madison Square Garden by 35.5% during the first quarter. Covestor Ltd now owns 416 shares of the company’s stock worth $81,000 after purchasing an additional 109 shares in the last quarter. GAMMA Investing LLC lifted its stake in Madison Square Garden by 24.8% during the second quarter. GAMMA Investing LLC now owns 880 shares of the company’s stock worth $184,000 after purchasing an additional 175 shares in the last quarter. United Services Automobile Association acquired a new position in Madison Square Garden during the first quarter worth $210,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Madison Square Garden by 99.6% in the first quarter. Russell Investments Group Ltd. now owns 1,082 shares of the company’s stock valued at $211,000 after acquiring an additional 540 shares in the last quarter. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

Madison Square Garden Stock Down 2.0%

Shares of NYSE:MSGS opened at $218.59 on Friday. The company has a market cap of $5.25 billion, a P/E ratio of -237.60 and a beta of 0.78. The Madison Square Garden Company has a 52 week low of $173.26 and a 52 week high of $237.99. The company has a 50-day moving average price of $209.70 and a 200 day moving average price of $200.63.

Madison Square Garden (NYSE:MSGS) last posted its quarterly earnings results 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. Madison Square Garden had a negative net margin of 2.16% and a negative return on equity of 1.76%. The company had revenue of $203.96 million during the quarter, compared to the consensus estimate of $151.00 million. During the same period last year, the firm earned $1.06 EPS. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. Analysts expect that The Madison Square Garden Company will post 0.73 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on MSGS. Morgan Stanley increased their target price on Madison Square Garden from $215.00 to $220.00 and gave the company an “equal weight” rating in a report on Wednesday, August 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of Madison Square Garden in a report on Wednesday, October 8th. Zacks Research raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Monday. BTIG Research began coverage on Madison Square Garden in a report on Tuesday, October 7th. They issued a “neutral” rating on the stock. Finally, Citigroup began coverage on Madison Square Garden in a report on Tuesday, September 9th. They issued a “buy” rating and a $285.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.