Fox Run Management L.L.C. Acquires Shares of 6,710 The Madison Square Garden Company $MSGS

Fox Run Management L.L.C. bought a new position in shares of The Madison Square Garden Company (NYSE:MSGS) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 6,710 shares of the company’s stock, valued at approximately $1,402,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in Madison Square Garden by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 83,241 shares of the company’s stock valued at $16,209,000 after purchasing an additional 1,989 shares in the last quarter. Atria Wealth Solutions Inc. boosted its stake 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 worth $604,000 after purchasing an additional 1,550 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Madison Square Garden during the first quarter worth $575,000. Inspire Trust Co. N.A. lifted its position in shares of Madison Square Garden by 28.6% during the first quarter. Inspire Trust Co. N.A. now owns 9,000 shares of the company’s stock worth $1,752,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Madison Square Garden by 523.2% in the 1st quarter. Victory Capital Management Inc. now owns 347,800 shares of the company’s stock valued at $67,724,000 after buying an additional 291,989 shares during the period. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Stock Performance

Shares of MSGS stock opened at $219.82 on Friday. The Madison Square Garden Company has a 52 week low of $173.26 and a 52 week high of $237.99. The company’s 50 day moving average price is $217.66 and its two-hundred day moving average price is $204.53. The company has a market capitalization of $5.28 billion, a P/E ratio of -224.30 and a beta of 0.77.

Madison Square Garden (NYSE:MSGS) last issued its quarterly earnings data on Friday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.04) by $0.67. Madison Square Garden had a negative net margin of 2.31% and a negative return on equity of 1.76%. The company had revenue of $39.45 million during the quarter, compared to the consensus estimate of $41.41 million. During the same quarter in the prior year, the firm earned ($0.31) earnings per share. The firm’s revenue was down 26.0% compared to the same quarter last year. Analysts forecast that The Madison Square Garden Company will post 0.73 earnings per share for the current year.

Analyst Ratings Changes

MSGS has been the topic of several recent research reports. Wolfe Research restated an “outperform” rating on shares of Madison Square Garden in a research report on Monday. Weiss Ratings upgraded Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a report on Saturday, October 25th. Zacks Research upgraded Madison Square Garden from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. BTIG Research assumed coverage on shares of Madison Square Garden in a report on Tuesday, October 7th. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of Madison Square Garden from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $260.50.

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.