Waratah Capital Advisors Ltd. increased its stake in shares of Madison Square Garden Co (NYSE:MSG) by 13.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,144 shares of the company’s stock after buying an additional 1,075 shares during the quarter. Waratah Capital Advisors Ltd.’s holdings in Madison Square Garden were worth $2,680,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Clarfeld Financial Advisors LLC acquired a new stake in shares of Madison Square Garden in the fourth quarter valued at $27,000. Quadrant Capital Group LLC boosted its holdings in Madison Square Garden by 1,226.7% in the first quarter. Quadrant Capital Group LLC now owns 199 shares of the company’s stock valued at $57,000 after purchasing an additional 184 shares during the period. QS Investors LLC purchased a new position in Madison Square Garden in the fourth quarter valued at $134,000. Athena Capital Advisors LLC purchased a new position in Madison Square Garden in the fourth quarter valued at $135,000. Finally, Ffcm LLC boosted its holdings in Madison Square Garden by 229.9% in the fourth quarter. Ffcm LLC now owns 508 shares of the company’s stock valued at $136,000 after purchasing an additional 354 shares during the period. Hedge funds and other institutional investors own 76.79% of the company’s stock.
A number of research analysts recently issued reports on MSG shares. Imperial Capital lifted their target price on Madison Square Garden from $372.00 to $383.00 and gave the company an “outperform” rating in a report on Thursday, February 14th. TheStreet raised Madison Square Garden from a “c” rating to a “b-” rating in a report on Thursday, February 14th. Finally, Zacks Investment Research downgraded Madison Square Garden from a “buy” rating to a “hold” rating in a report on Friday, March 15th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $352.83.
Madison Square Garden (NYSE:MSG) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.10. The company had revenue of $517.19 million during the quarter, compared to the consensus estimate of $525.06 million. Madison Square Garden had a return on equity of 1.48% and a net margin of 2.29%. Madison Square Garden’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.38 EPS. As a group, equities research analysts expect that Madison Square Garden Co will post 1.39 earnings per share for the current year.
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Madison Square Garden Profile
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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