Vanguard Capital Wealth Advisors Buys New Position in Madison Square Garden Co (MSG)

Vanguard Capital Wealth Advisors bought a new stake in Madison Square Garden Co (NYSE:MSG) during the 3rd quarter, Holdings Channel reports. The firm bought 797 shares of the company’s stock, valued at approximately $251,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB increased its holdings in shares of Madison Square Garden by 7.8% during the 3rd quarter. Xact Kapitalforvaltning AB now owns 2,772 shares of the company’s stock worth $874,000 after acquiring an additional 200 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new position in shares of Madison Square Garden during the 3rd quarter worth approximately $1,017,000. Eidelman Virant Capital increased its holdings in shares of Madison Square Garden by 404.2% during the 3rd quarter. Eidelman Virant Capital now owns 21,006 shares of the company’s stock worth $6,623,000 after acquiring an additional 16,840 shares during the last quarter. First Hawaiian Bank acquired a new position in shares of Madison Square Garden during the 3rd quarter worth approximately $297,000. Finally, Scout Investments Inc. acquired a new position in shares of Madison Square Garden during the 3rd quarter worth approximately $18,377,000. Hedge funds and other institutional investors own 69.95% of the company’s stock.

NYSE MSG traded up $1.04 on Friday, reaching $287.00. The stock had a trading volume of 7,536 shares, compared to its average volume of 225,012. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.85 and a quick ratio of 1.85. Madison Square Garden Co has a 1-year low of $205.22 and a 1-year high of $330.00. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 49.31, a P/E/G ratio of 16.07 and a beta of 0.37.

Madison Square Garden (NYSE:MSG) last issued its quarterly earnings data on Thursday, August 16th. The company reported ($1.94) EPS for the quarter, beating analysts’ consensus estimates of ($2.00) by $0.06. Madison Square Garden had a return on equity of 1.10% and a net margin of 9.08%. The firm had revenue of $318.00 million for the quarter, compared to analyst estimates of $293.32 million. During the same period in the prior year, the firm posted ($3.58) EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities analysts anticipate that Madison Square Garden Co will post 0.71 earnings per share for the current fiscal year.

A number of research analysts recently weighed in on MSG shares. Imperial Capital started coverage on Madison Square Garden in a report on Tuesday, August 21st. They set an “outperform” rating and a $372.00 target price on the stock. Morgan Stanley boosted their target price on Madison Square Garden from $260.00 to $315.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 1st. Guggenheim upped their price objective on Madison Square Garden to $350.00 and gave the company a “buy” rating in a report on Thursday, August 23rd. Macquarie raised Madison Square Garden from a “neutral” rating to an “outperform” rating in a report on Friday, June 29th. Finally, ValuEngine raised Madison Square Garden from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 28th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $322.17.

About Madison Square Garden

The Madison Square Garden Company, together with its subsidiaries, engages in live sports and entertainment businesses in the United States. The company operates in two segments, MSG Sports and MSG Entertainment. The MSG Sports segment owns and operates professional sports franchises; and promotes, produces, and/or presents an array of other live sporting events, including professional boxing, college basketball, college hockey, professional bull riding, mixed martial arts, esports, tennis, and college wrestling.

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

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