Edgestream Partners L.P. Takes Position in The Madison Square Garden Company $MSGS

Edgestream Partners L.P. purchased a new position in The Madison Square Garden Company (NYSE:MSGS) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,121 shares of the company’s stock, valued at approximately $7,110,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MSGS. Amundi raised its holdings in Madison Square Garden by 4.7% in the 1st quarter. Amundi now owns 5,643 shares of the company’s stock valued at $1,091,000 after acquiring an additional 252 shares during the last quarter. Millennium Management LLC boosted 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 worth $5,286,000 after purchasing an additional 2,006 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Madison Square Garden by 28.2% in the first 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 in the last quarter. United Services Automobile Association purchased a new stake in shares of Madison Square Garden in the first quarter valued at approximately $210,000. Finally, Empowered Funds LLC increased its holdings in shares of Madison Square Garden by 10.8% in the first quarter. Empowered Funds LLC now owns 2,055 shares of the company’s stock valued at $400,000 after purchasing an additional 200 shares during the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Stock Performance

MSGS opened at $405.62 on Friday. The stock has a market capitalization of $9.77 billion, a PE ratio of -436.15 and a beta of 0.61. The Madison Square Garden Company has a one year low of $188.60 and a one year high of $411.73. The business’s 50 day moving average price is $384.33 and its 200 day moving average price is $339.26.

Madison Square Garden (NYSE:MSGS) last posted its earnings results on Friday, May 8th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate 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. During the same period last year, the business posted ($0.59) earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts forecast that The Madison Square Garden Company will post -0.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on MSGS shares. Guggenheim lifted their price objective on Madison Square Garden from $470.00 to $522.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Morgan Stanley upgraded Madison Square Garden from an “equal weight” rating to an “overweight” rating and set a $450.00 target price for the company in a report on Wednesday, July 15th. Citigroup raised their target price on Madison Square Garden from $355.00 to $360.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Zacks Research lowered Madison Square Garden from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th. Finally, Wall Street Zen raised shares of Madison Square Garden from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $442.40.

Madison Square Garden Company 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.