Odyssean LLC Acquires 3,028 Shares of The Madison Square Garden Company $MSGS

Odyssean LLC grew its holdings in The Madison Square Garden Company (NYSE:MSGS) by 64.4% during the second quarter, Holdings Channel reports. The firm owned 7,728 shares of the company’s stock after acquiring an additional 3,028 shares during the quarter. Odyssean LLC’s holdings in Madison Square Garden were worth $3,105,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Syon Capital LLC grew its stake in Madison Square Garden by 9.9% during the second quarter. Syon Capital LLC now owns 1,775 shares of the company’s stock worth $713,000 after purchasing an additional 160 shares during the period. AXQ Capital LP acquired a new position in Madison Square Garden in the second quarter valued at approximately $2,638,000. Nykredit A S bought a new position in shares of Madison Square Garden during the 2nd quarter worth approximately $339,000. BTG Pactual Asset Management US LLC bought a new position in shares of Madison Square Garden during the 2nd quarter worth approximately $423,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Madison Square Garden during the 2nd quarter worth approximately $1,838,000. Institutional investors own 68.94% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on MSGS shares. Seaport Research Partners lifted their price objective on shares of Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. JPMorgan Chase & Co. increased their target price on shares of Madison Square Garden from $450.00 to $485.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. Guggenheim raised their price target on shares of Madison Square Garden from $522.00 to $584.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Wall Street Zen raised shares of Madison Square Garden from a “sell” rating to a “hold” rating in a research note on Sunday, August 23rd. Finally, Weiss Ratings upgraded shares of Madison Square Garden from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 14th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $471.20.

Madison Square Garden Stock Performance

Shares of Madison Square Garden stock opened at $391.29 on Friday. The Madison Square Garden Company has a 52 week low of $194.25 and a 52 week high of $438.93. The stock has a 50 day moving average price of $395.46 and a two-hundred day moving average price of $359.47. The stock has a market capitalization of $9.42 billion, a PE ratio of 1,304.34 and a beta of 0.60.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings data on Wednesday, August 12th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.64 by $0.52. Madison Square Garden had a negative return on equity of 3.47% and a net margin of 0.67%.The firm had revenue of $278.75 million during the quarter, compared to the consensus estimate of $227.67 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. The company’s quarterly revenue was up 36.6% on a year-over-year basis. Research analysts forecast that The Madison Square Garden Company will post -0.8 EPS for the current year.

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.