Highbridge Capital Management LLC purchased a new stake in The Madison Square Garden Company (NYSE:MSG) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,739 shares of the company’s stock, valued at approximately $372,000.

Several other hedge funds also recently made changes to their positions in MSG. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of The Madison Square Garden by 8.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 712 shares of the company’s stock valued at $140,000 after acquiring an additional 58 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of The Madison Square Garden by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 751 shares of the company’s stock valued at $148,000 after acquiring an additional 40 shares during the last quarter. Maverick Capital Ltd. bought a new stake in shares of The Madison Square Garden in the 2nd quarter valued at about $176,000. South State Corp bought a new stake in shares of The Madison Square Garden in the 2nd quarter valued at about $203,000. Finally, Investment House LLC bought a new stake in shares of The Madison Square Garden in the 3rd quarter valued at about $203,000. 71.26% of the stock is owned by institutional investors.

The Madison Square Garden Company (MSG) opened at $213.38 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.92 and a current ratio of 1.92. The Madison Square Garden Company has a 12-month low of $166.86 and a 12-month high of $231.44.

The Madison Square Garden (NYSE:MSG) last issued its quarterly earnings data on Friday, November 3rd. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.65) by $0.18. The Madison Square Garden had a negative return on equity of 1.75% and a negative net margin of 4.00%. The business had revenue of $245.04 million during the quarter, compared to analyst estimates of $237.06 million. During the same period in the previous year, the firm earned ($1.19) EPS. The Madison Square Garden’s quarterly revenue was up 34.9% compared to the same quarter last year. research analysts predict that The Madison Square Garden Company will post 0.66 EPS for the current fiscal year.

A number of brokerages have recently commented on MSG. ValuEngine cut The Madison Square Garden from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Morgan Stanley cut The Madison Square Garden from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $218.50 to $245.00 in a research note on Tuesday, December 5th. Loop Capital upped their price target on The Madison Square Garden from $266.00 to $268.00 and gave the company a “buy” rating in a research note on Monday, November 6th. BTIG Research set a $260.00 price target on The Madison Square Garden and gave the company a “buy” rating in a research note on Monday, September 11th. Finally, Zacks Investment Research cut The Madison Square Garden from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The Madison Square Garden currently has a consensus rating of “Hold” and a consensus price target of $217.78.

WARNING: “Highbridge Capital Management LLC Takes $372,000 Position in The Madison Square Garden Company (MSG)” was first reported by Watch List News and is owned by of Watch List News. If you are accessing this article on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The original version of this article can be viewed at https://www.watchlistnews.com/highbridge-capital-management-llc-takes-372000-position-in-the-madison-square-garden-company-msg/1772750.html.

The Madison Square Garden Profile

The Madison Square Garden Company is a holding company, which is engaged in live experiences consisting of celebrated venues, sports teams, and entertainment productions. The Company operates in two segments, which include MSG Entertainment and MSG Sports. The MSG Sports segment includes the Company’s professional sports franchises, which include the New York Knicks (the Knicks) of the National Basketball Association (the NBA), the New York Rangers (the Rangers) of the National Hockey League (the NHL), the New York Liberty (the Liberty) of the Women’s National Basketball Association (the WNBA), the Hartford Wolf Pack of the American Hockey League (the AHL), which is the primary player development team for the Rangers, and the Westchester Knicks, an NBA Development League team.

Want to see what other hedge funds are holding MSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Madison Square Garden Company (NYSE:MSG).

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

Receive News & Ratings for The Madison Square Garden Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Madison Square Garden and related companies with MarketBeat.com's FREE daily email newsletter.