AlphaQuest LLC Raises Stock Holdings in The Madison Square Garden Company $MSGS

AlphaQuest LLC boosted its holdings in shares of The Madison Square Garden Company (NYSE:MSGS) by 216.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,403 shares of the company’s stock after purchasing an additional 2,327 shares during the quarter. AlphaQuest LLC’s holdings in Madison Square Garden were worth $711,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Madison Square Garden by 2.4% in the first quarter. Principal Financial Group Inc. now owns 83,241 shares of the company’s stock valued at $16,209,000 after acquiring an additional 1,989 shares in the last quarter. Atria Wealth Solutions Inc. lifted its position in shares of Madison Square Garden by 100.0% in the first quarter. Atria Wealth Solutions Inc. now owns 3,100 shares of the company’s stock valued at $604,000 after acquiring an additional 1,550 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Madison Square Garden in the first quarter valued at approximately $575,000. Inspire Trust Co. N.A. lifted its position in shares of Madison Square Garden by 28.6% in the first quarter. Inspire Trust Co. N.A. now owns 9,000 shares of the company’s stock valued at $1,752,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Madison Square Garden by 523.2% in the first quarter. Victory Capital Management Inc. now owns 347,800 shares of the company’s stock valued at $67,724,000 after acquiring an additional 291,989 shares in the last quarter. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Madison Square Garden Stock Down 0.2%

MSGS stock opened at $227.65 on Tuesday. The business has a fifty day moving average of $213.55 and a two-hundred day moving average of $202.73. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of -247.45 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.

Madison Square Garden (NYSE:MSGS) last posted its earnings results on Tuesday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.35. The company had revenue of $203.96 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.06 earnings per share. As a group, sell-side analysts anticipate that The Madison Square Garden Company will post 0.73 EPS for the current year.

Wall Street Analysts Forecast Growth

MSGS has been the topic of several research reports. Zacks Research upgraded Madison Square Garden from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Weiss Ratings upgraded Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday. Morgan Stanley raised their target price on 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. BTIG Research started coverage on Madison Square Garden in a report on Tuesday, October 7th. They issued a “neutral” rating for the company. Finally, Citigroup started coverage on Madison Square Garden in a report on Tuesday, September 9th. They issued a “buy” rating and a $285.00 price target for the company. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Madison Square Garden presently has an average rating of “Moderate Buy” and an average target price of $258.83.

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.