FNY Investment Advisers LLC Buys Shares of 534 The Madison Square Garden Company $MSGS

FNY Investment Advisers LLC bought a new stake in The Madison Square Garden Company (NYSE:MSGS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 534 shares of the company’s stock, valued at approximately $111,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in 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 during the period. Atria Wealth Solutions Inc. lifted its holdings in 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 during the period. Virtu Financial LLC acquired a new stake in Madison Square Garden in the first quarter valued at $575,000. Inspire Trust Co. N.A. lifted its holdings in 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 during the period. Finally, Victory Capital Management Inc. lifted its holdings in 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 during the period. Institutional investors and hedge funds own 68.94% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on MSGS. Citigroup began coverage on Madison Square Garden in a research note on Tuesday, September 9th. They set a “buy” rating and a $285.00 price target for the company. BTIG Research began coverage on Madison Square Garden in a research note on Tuesday, October 7th. They set a “neutral” rating for the company. Zacks Research raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Madison Square Garden in a research note on Wednesday, October 8th. Finally, Morgan Stanley lifted their price target on Madison Square Garden from $215.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Madison Square Garden currently has an average rating of “Hold” and an average price target of $258.83.

Madison Square Garden Trading Up 0.2%

NYSE:MSGS opened at $225.93 on Friday. The Madison Square Garden Company has a 12-month low of $173.26 and a 12-month high of $237.99. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of -245.57 and a beta of 0.78. The company’s 50-day moving average is $212.34 and its two-hundred day moving average is $201.80.

Madison Square Garden (NYSE:MSGS) last posted 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 business had revenue of $203.96 million during the quarter, compared to analyst estimates 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 company’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.06 earnings per share. On average, equities research analysts forecast 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.