Columbus Circle Investors Purchases 120 Shares of Madison Square Garden Co (MSG)

Columbus Circle Investors raised its position in Madison Square Garden Co (NYSE:MSG) by 0.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 38,864 shares of the company’s stock after buying an additional 120 shares during the quarter. Columbus Circle Investors’ holdings in Madison Square Garden were worth $10,404,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sageworth Trust Co boosted its position in Madison Square Garden by 1,257.5% in the 3rd quarter. Sageworth Trust Co now owns 543 shares of the company’s stock valued at $171,000 after buying an additional 503 shares during the last quarter. Vanguard Capital Wealth Advisors bought a new position in Madison Square Garden in the 3rd quarter valued at $251,000. Birinyi Associates Inc. bought a new position in Madison Square Garden in the 3rd quarter valued at $252,000. Oppenheimer & Co. Inc. bought a new position in Madison Square Garden in the 4th quarter valued at $226,000. Finally, Atria Investments LLC bought a new position in Madison Square Garden in the 3rd quarter valued at $276,000. Hedge funds and other institutional investors own 70.66% of the company’s stock.

NYSE:MSG opened at $289.35 on Thursday. Madison Square Garden Co has a 12-month low of $208.75 and a 12-month high of $330.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm has a market capitalization of $6.94 billion, a PE ratio of 48.71 and a beta of 0.53.

Madison Square Garden (NYSE:MSG) last posted its quarterly earnings results on Friday, February 1st. The company reported $3.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.09 by $1.33. Madison Square Garden had a return on equity of 0.48% and a net margin of 0.77%. The business had revenue of $632.20 million for the quarter, compared to analyst estimates of $589.52 million. During the same period last year, the company earned $7.96 EPS. The firm’s revenue was up 17.9% on a year-over-year basis. Analysts forecast that Madison Square Garden Co will post 0.41 EPS for the current fiscal year.

Several research firms have recently issued reports on MSG. Zacks Investment Research upgraded Madison Square Garden from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research report on Wednesday, January 2nd. Morgan Stanley reduced their price target on Madison Square Garden from $320.00 to $310.00 and set an “equal weight” rating on the stock in a research report on Friday, November 30th. Finally, Macquarie restated a “buy” rating and issued a $356.00 price target on shares of Madison Square Garden in a research report on Tuesday, October 30th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $339.67.

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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.

Further Reading: Net Asset Value

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

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