MQS Management LLC Has $237,000 Stake in The Madison Square Garden Company $MSGS

MQS Management LLC decreased its holdings in The Madison Square Garden Company (NYSE:MSGS) by 66.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,136 shares of the company’s stock after selling 2,205 shares during the period. MQS Management LLC’s holdings in Madison Square Garden were worth $237,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State of New Jersey Common Pension Fund D raised its position in shares of Madison Square Garden by 3.7% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 9,900 shares of the company’s stock valued at $2,069,000 after buying an additional 354 shares in the last quarter. AlphaQuest LLC raised its position in shares of Madison Square Garden by 216.3% in the 2nd quarter. AlphaQuest LLC now owns 3,403 shares of the company’s stock valued at $711,000 after buying an additional 2,327 shares in the last quarter. R Squared Ltd raised its position in shares of Madison Square Garden by 80.8% in the 2nd quarter. R Squared Ltd now owns 3,597 shares of the company’s stock valued at $752,000 after buying an additional 1,607 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Madison Square Garden in the 2nd quarter valued at approximately $111,000. Finally, Blume Capital Management Inc. acquired a new position in shares of Madison Square Garden in the 2nd quarter valued at approximately $638,000. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Price Performance

MSGS opened at $227.65 on Tuesday. The Madison Square Garden Company has a fifty-two week low of $173.26 and a fifty-two week high of $237.99. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of -247.45 and a beta of 0.78. The company’s 50 day moving average price is $213.55 and its two-hundred day moving average price is $202.73.

Madison Square Garden (NYSE:MSGS) last posted its earnings results on Tuesday, August 12th. The company reported ($0.07) earnings per share for the quarter, topping 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 firm had revenue of $203.96 million for the quarter, compared to analyst estimates of $151.00 million. During the same period in the previous year, the firm posted $1.06 EPS. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, equities research analysts predict that The Madison Square Garden Company will post 0.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MSGS shares. Citigroup started coverage on shares of 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. BTIG Research started coverage on shares of Madison Square Garden in a research report on Tuesday, October 7th. They issued a “neutral” rating for the company. Morgan Stanley upped their price objective on shares of 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. Zacks Research upgraded shares of Madison Square Garden from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Finally, Weiss Ratings upgraded shares of Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.