Renaissance Technologies LLC Has $22.75 Million Stake in The Madison Square Garden Company (NYSE:MSG)

Renaissance Technologies LLC raised its position in The Madison Square Garden Company (NYSE:MSG) by 149.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,900 shares of the company’s stock after buying an additional 68,202 shares during the period. Renaissance Technologies LLC owned about 0.48% of The Madison Square Garden worth $22,747,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MSG. Massachusetts Financial Services Co. MA purchased a new stake in The Madison Square Garden during the first quarter worth approximately $25,097,000. Morgan Stanley increased its stake in The Madison Square Garden by 398.8% in the first quarter. Morgan Stanley now owns 131,570 shares of the company’s stock worth $26,276,000 after buying an additional 105,192 shares in the last quarter. FMR LLC increased its stake in The Madison Square Garden by 36.5% in the first quarter. FMR LLC now owns 320,377 shares of the company’s stock worth $63,982,000 after buying an additional 85,628 shares in the last quarter. Acadian Asset Management LLC increased its stake in The Madison Square Garden by 139,360.0% in the first quarter. Acadian Asset Management LLC now owns 76,703 shares of the company’s stock worth $15,320,000 after buying an additional 76,648 shares in the last quarter. Finally, Becker Capital Management Inc. purchased a new stake in shares of The Madison Square Garden during the first quarter valued at approximately $14,964,000. Institutional investors own 84.76% of the company’s stock.

The Madison Square Garden Company (MSG) traded up 0.56% during midday trading on Friday, reaching $219.82. The company’s stock had a trading volume of 130,504 shares. The Madison Square Garden Company has a 1-year low of $160.96 and a 1-year high of $220.70. The company has a 50 day moving average of $200.32 and a 200-day moving average of $192.76. The company’s market capitalization is $5.18 billion.

The Madison Square Garden (NYSE:MSG) last posted its earnings results on Thursday, May 4th. The company reported ($0.74) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by $0.33. The business had revenue of $386 million for the quarter, compared to analyst estimates of $365.57 million. The Madison Square Garden had a negative return on equity of 1.57% and a negative net margin of 3.81%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.47) earnings per share. Equities research analysts anticipate that The Madison Square Garden Company will post ($0.74) earnings per share for the current fiscal year.

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Several research firms have issued reports on MSG. Morgan Stanley restated an “overweight” rating and set a $245.00 target price (up previously from $215.00) on shares of The Madison Square Garden in a research note on Tuesday, July 25th. BTIG Research reiterated a “buy” rating and issued a $260.00 price objective (up previously from $240.00) on shares of The Madison Square Garden in a research note on Tuesday, July 25th. Zacks Investment Research upgraded shares of The Madison Square Garden from a “hold” rating to a “strong-buy” rating and set a $224.00 target price on the stock in a research note on Saturday, July 15th. Jefferies Group LLC reaffirmed a “hold” rating and set a $185.00 price objective on shares of The Madison Square Garden in a report on Monday, May 15th. Finally, ValuEngine raised shares of The Madison Square Garden from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $204.91.

The Madison Square Garden Company 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.

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

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