Trexquant Investment LP Buys New Stake in Madison Square Garden Co (NYSE:MSG)

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Trexquant Investment LP bought a new position in Madison Square Garden Co (NYSE:MSG) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,400 shares of the company’s stock, valued at approximately $1,583,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc raised its holdings in shares of Madison Square Garden by 5.2% in the third quarter. Vanguard Group Inc now owns 1,637,350 shares of the company’s stock valued at $516,290,000 after acquiring an additional 81,581 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Madison Square Garden in the fourth quarter valued at about $226,000. Rhumbline Advisers raised its holdings in shares of Madison Square Garden by 1.6% in the fourth quarter. Rhumbline Advisers now owns 19,272 shares of the company’s stock valued at $5,159,000 after acquiring an additional 305 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Madison Square Garden by 4.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 22,640 shares of the company’s stock valued at $6,061,000 after acquiring an additional 873 shares in the last quarter. Finally, Columbus Circle Investors raised its holdings in shares of Madison Square Garden by 0.3% in the fourth quarter. Columbus Circle Investors now owns 38,864 shares of the company’s stock valued at $10,404,000 after acquiring an additional 120 shares in the last quarter. 73.22% of the stock is owned by institutional investors.

Madison Square Garden stock traded down $2.74 during trading hours on Friday, reaching $289.68. The stock had a trading volume of 1,835 shares, compared to its average volume of 118,278. The company has a market capitalization of $6.95 billion, a PE ratio of 48.83 and a beta of 0.60. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.07 and a current ratio of 2.07. Madison Square Garden Co has a 52 week low of $240.33 and a 52 week high of $330.00.

Madison Square Garden (NYSE:MSG) last announced its earnings results on Wednesday, May 8th. The company reported $1.48 EPS for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.10. Madison Square Garden had a net margin of 2.29% and a return on equity of 1.48%. The business had revenue of $517.19 million during the quarter, compared to the consensus estimate of $525.06 million. During the same period in the previous year, the company posted $0.38 earnings per share. The firm’s revenue was up 12.5% on a year-over-year basis. On average, equities analysts predict that Madison Square Garden Co will post 1.25 earnings per share for the current fiscal year.

A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Madison Square Garden from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Imperial Capital reiterated a “buy” rating and issued a $383.00 target price on shares of Madison Square Garden in a report on Friday, March 29th. TheStreet downgraded shares of Madison Square Garden from a “b-” rating to a “c+” rating in a report on Tuesday, March 26th. Finally, Morgan Stanley boosted their target price on shares of Madison Square Garden from $310.00 to $340.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Madison Square Garden presently has an average rating of “Buy” and an average price target of $352.83.

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About Madison Square Garden

The Madison Square Garden Company, together with its subsidiaries, engages in live sports and entertainment businesses in the United States. The company operates in two segments, MSG Sports and MSG Entertainment. The MSG Sports segment owns and operates professional sports franchises; and promotes, produces, and/or presents an array of other live sporting events, including professional boxing, college basketball, college hockey, professional bull riding, mixed martial arts, esports, tennis, and college wrestling.

Further Reading: Return On Assets

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Institutional Ownership by Quarter for Madison Square Garden (NYSE:MSG)

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