MYDA Advisors LLC Increases Stock Holdings in The Madison Square Garden Company $MSGS

MYDA Advisors LLC increased its holdings in The Madison Square Garden Company (NYSE:MSGS) by 11.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,000 shares of the company’s stock after purchasing an additional 2,000 shares during the period. Madison Square Garden accounts for 1.0% of MYDA Advisors LLC’s investment portfolio, making the stock its 23rd biggest position. MYDA Advisors LLC owned about 0.08% of Madison Square Garden worth $5,173,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MSGS. Global Retirement Partners LLC grew its position in shares of Madison Square Garden by 1,150.0% in the fourth quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares during the period. Accredited Wealth Management LLC grew its position in shares of Madison Square Garden by 524.0% in the third quarter. Accredited Wealth Management LLC now owns 156 shares of the company’s stock valued at $35,000 after purchasing an additional 131 shares during the period. Salomon & Ludwin LLC grew its position in shares of Madison Square Garden by 33.1% in the fourth quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock valued at $40,000 after purchasing an additional 39 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of Madison Square Garden in the fourth quarter valued at $45,000. Finally, Allworth Financial LP grew its position in shares of Madison Square Garden by 26.5% in the fourth quarter. Allworth Financial LP now owns 196 shares of the company’s stock valued at $51,000 after purchasing an additional 41 shares during the period. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Madison Square Garden Price Performance

Shares of MSGS opened at $383.52 on Monday. The stock’s 50-day moving average is $349.12 and its two-hundred day moving average is $304.47. The stock has a market cap of $9.24 billion, a PE ratio of -412.38 and a beta of 0.61. The Madison Square Garden Company has a 12 month low of $186.00 and a 12 month high of $397.00.

Madison Square Garden (NYSE:MSGS) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($1.39). The business had revenue of $432.20 million during the quarter, compared to the consensus estimate of $429.66 million. Madison Square Garden’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.59) EPS. On average, research analysts anticipate that The Madison Square Garden Company will post -0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MSGS. Weiss Ratings raised Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, March 27th. Guggenheim lifted their target price on Madison Square Garden from $422.00 to $470.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Susquehanna lifted their target price on Madison Square Garden from $404.00 to $429.00 and gave the company a “positive” rating in a report on Thursday, May 28th. Wall Street Zen cut Madison Square Garden from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Seaport Research Partners lifted their target price on Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $356.80.

Madison Square Garden Profile

Madison Square Garden Sports Corp (NYSE: MSGS) is a leading sports and entertainment holding company focused on professional sports franchises and related media assets. The company owns and operates teams such as the NBA’s New York Knicks, the NHL’s New York Rangers and the WNBA’s New York Liberty. Through these flagship franchises, MSG Sports offers a range of products and services including ticketing, premium seating and sponsorship opportunities, targeting fans in the New York metropolitan area and beyond.

In addition to team operations, Madison Square Garden Sports Corp holds a majority stake in MSG Networks, a regional cable network that broadcasts live sporting events, news and original programming.