KBC Group NV increased its holdings in shares of The Madison Square Garden Company (NYSE:MSGS – Free Report) by 5,609.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,488 shares of the company’s stock after buying an additional 29,954 shares during the quarter. KBC Group NV’s holdings in Madison Square Garden were worth $9,799,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Amundi raised its position in shares of Madison Square Garden by 4.7% during the first quarter. Amundi now owns 5,643 shares of the company’s stock worth $1,091,000 after purchasing an additional 252 shares during the period. Millennium Management LLC lifted its holdings in shares of Madison Square Garden by 8.0% during the 1st quarter. Millennium Management LLC now owns 27,147 shares of the company’s stock valued at $5,286,000 after purchasing an additional 2,006 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Madison Square Garden by 28.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 24,807 shares of the company’s stock valued at $4,830,000 after purchasing an additional 5,452 shares during the period. United Services Automobile Association bought a new stake in Madison Square Garden during the 1st quarter worth approximately $210,000. Finally, Empowered Funds LLC increased its stake in Madison Square Garden by 10.8% during the 1st quarter. Empowered Funds LLC now owns 2,055 shares of the company’s stock worth $400,000 after purchasing an additional 200 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research analysts have weighed in on MSGS shares. Seaport Research Partners lifted their price target on shares of Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Citigroup boosted their price objective on shares of Madison Square Garden from $355.00 to $360.00 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. JPMorgan Chase & Co. upped their target price on shares of Madison Square Garden from $400.00 to $450.00 and gave the stock an “overweight” rating in a research note on Tuesday. Zacks Research downgraded Madison Square Garden from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 16th. Finally, Wall Street Zen upgraded Madison Square Garden from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $432.00.
Madison Square Garden Price Performance
Madison Square Garden stock opened at $397.38 on Thursday. The firm has a market capitalization of $9.57 billion, a PE ratio of -427.29 and a beta of 0.61. The company’s 50-day moving average is $378.71 and its 200-day moving average is $333.35. The Madison Square Garden Company has a fifty-two week low of $188.60 and a fifty-two week high of $411.73.
Madison Square Garden (NYSE:MSGS – Get Free Report) last issued its earnings results on Friday, May 8th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($1.39). The firm had revenue of $432.20 million for the quarter, compared to the consensus estimate of $429.66 million. During the same quarter last year, the firm posted ($0.59) earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, analysts expect that The Madison Square Garden Company will post -0.18 EPS for the current year.
About Madison Square Garden
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.
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