The Madison Square Garden Company $MSGS Shares Acquired by Southpoint Capital Advisors LP

Southpoint Capital Advisors LP increased its position in The Madison Square Garden Company (NYSE:MSGS) by 3.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 155,000 shares of the company’s stock after purchasing an additional 5,000 shares during the period. Southpoint Capital Advisors LP’s holdings in Madison Square Garden were worth $49,817,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Renaissance Technologies LLC increased its position in Madison Square Garden by 45.9% during the first quarter. Renaissance Technologies LLC now owns 172,000 shares of the company’s stock worth $55,281,000 after buying an additional 54,100 shares during the period. Sei Investments Co. lifted its stake in Madison Square Garden by 36.9% in the first quarter. Sei Investments Co. now owns 8,718 shares of the company’s stock valued at $2,802,000 after buying an additional 2,352 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Madison Square Garden by 24.2% in the first quarter. First Trust Advisors LP now owns 16,254 shares of the company’s stock valued at $5,224,000 after acquiring an additional 3,171 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Madison Square Garden by 2.3% during the first quarter. PNC Financial Services Group Inc. now owns 2,490 shares of the company’s stock worth $800,000 after acquiring an additional 56 shares during the last quarter. Finally, KBC Group NV grew its position in shares of Madison Square Garden by 5,609.4% during the first quarter. KBC Group NV now owns 30,488 shares of the company’s stock worth $9,799,000 after acquiring an additional 29,954 shares during the last quarter. 68.94% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden Price Performance

MSGS opened at $397.32 on Tuesday. The Madison Square Garden Company has a 12 month low of $188.60 and a 12 month high of $411.73. The stock has a market capitalization of $9.57 billion, a P/E ratio of -427.23 and a beta of 0.61. The business has a 50 day simple moving average of $381.46 and a 200-day simple moving average of $336.32.

Madison Square Garden (NYSE:MSGS) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($1.39). The company had revenue of $432.20 million during the quarter, compared to analysts’ expectations of $429.66 million. Madison Square Garden’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.59) earnings per share. Research analysts anticipate that The Madison Square Garden Company will post -0.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MSGS shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Madison Square Garden in a research note on Wednesday, June 24th. Susquehanna lifted their price objective on shares of Madison Square Garden from $429.00 to $430.00 and gave the company a “positive” rating in a research note on Tuesday, June 23rd. Guggenheim upped their target price on shares of Madison Square Garden from $470.00 to $522.00 and gave the company a “buy” rating in a report on Thursday. Zacks Research downgraded shares of Madison Square Garden from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 16th. Finally, Citigroup raised their price target on Madison Square Garden from $355.00 to $360.00 and gave the stock a “neutral” rating in a report on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average 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.