Inspire Trust Co. N.A. Raises Holdings in The Madison Square Garden Company (NYSE:MSGS)

Inspire Trust Co. N.A. raised its holdings in shares of The Madison Square Garden Company (NYSE:MSGS) by 28.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,000 shares of the company’s stock after acquiring an additional 2,000 shares during the quarter. Inspire Trust Co. N.A.’s holdings in Madison Square Garden were worth $1,752,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Putney Financial Group LLC purchased a new position in shares of Madison Square Garden during the 4th quarter worth approximately $28,000. Heck Capital Advisors LLC acquired a new stake in shares of Madison Square Garden during the fourth quarter worth $43,000. Covestor Ltd raised its position in shares of Madison Square Garden by 35.5% in the 1st quarter. Covestor Ltd now owns 416 shares of the company’s stock worth $81,000 after buying an additional 109 shares during the period. Kapitalo Investimentos Ltda purchased a new position in shares of Madison Square Garden in the 4th quarter worth $92,000. Finally, Obermeyer Wealth Partners purchased a new position in shares of Madison Square Garden in the 4th quarter worth $202,000. 68.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MSGS. Guggenheim reaffirmed a “buy” rating and issued a $314.00 target price on shares of Madison Square Garden in a research report on Tuesday, May 6th. Morgan Stanley lifted their price target on Madison Square Garden from $215.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Susquehanna initiated coverage on Madison Square Garden in a research note on Monday, April 28th. They issued a “positive” rating and a $254.00 target price for the company. Finally, JPMorgan Chase & Co. cut their target price on Madison Square Garden from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Madison Square Garden has a consensus rating of “Moderate Buy” and a consensus target price of $253.60.

Madison Square Garden Stock Down 0.3%

Shares of NYSE:MSGS opened at $194.77 on Thursday. The company’s fifty day moving average is $201.22 and its two-hundred day moving average is $198.22. The Madison Square Garden Company has a 12-month low of $173.26 and a 12-month high of $237.99. The company has a market cap of $4.68 billion, a P/E ratio of -211.71 and a beta of 0.79.

Madison Square Garden (NYSE:MSGS) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.35. The business had revenue of $203.96 million for the quarter, compared to the consensus estimate of $151.00 million. Madison Square Garden had a negative net margin of 2.16% and a negative return on equity of 1.76%. Madison Square Garden’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.06 earnings per share. Equities research analysts anticipate that The Madison Square Garden Company will post 0.73 earnings per share for the current year.

About Madison Square Garden

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.