Partner Fund Management L.P. boosted its position in shares of Madison Square Garden Co (NYSE:MSG) by 40.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 220,963 shares of the company’s stock after acquiring an additional 63,223 shares during the period. Partner Fund Management L.P. owned approximately 0.93% of Madison Square Garden worth $69,674,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of MSG. Wells Fargo & Company MN increased its stake in Madison Square Garden by 130.3% during the third quarter. Wells Fargo & Company MN now owns 155,066 shares of the company’s stock valued at $48,896,000 after acquiring an additional 87,727 shares during the period. Acadian Asset Management LLC increased its stake in Madison Square Garden by 2,065.7% during the third quarter. Acadian Asset Management LLC now owns 75,021 shares of the company’s stock valued at $23,657,000 after acquiring an additional 71,557 shares during the period. Scout Investments Inc. bought a new position in Madison Square Garden during the third quarter valued at about $18,377,000. Renaissance Technologies LLC increased its stake in Madison Square Garden by 13.2% during the second quarter. Renaissance Technologies LLC now owns 436,199 shares of the company’s stock valued at $135,305,000 after acquiring an additional 50,999 shares during the period. Finally, Sei Investments Co. increased its stake in Madison Square Garden by 325.4% during the second quarter. Sei Investments Co. now owns 54,341 shares of the company’s stock valued at $16,855,000 after acquiring an additional 41,566 shares during the period. Hedge funds and other institutional investors own 69.86% of the company’s stock.
Several brokerages recently issued reports on MSG. Guggenheim boosted their price target on Madison Square Garden to $350.00 and gave the company a “buy” rating in a research note on Thursday, August 23rd. Imperial Capital began coverage on Madison Square Garden in a research note on Tuesday, August 21st. They set an “outperform” rating and a $372.00 price target on the stock. Zacks Investment Research upgraded Madison Square Garden from a “sell” rating to a “hold” rating in a research note on Wednesday, October 17th. Morgan Stanley boosted their price target on Madison Square Garden from $315.00 to $320.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 31st. Finally, Macquarie restated a “buy” rating and set a $356.00 price target on shares of Madison Square Garden in a research note on Tuesday, October 30th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $342.67.
Shares of MSG opened at $262.00 on Wednesday. The company has a market capitalization of $6.39 billion, a PE ratio of 44.11, a price-to-earnings-growth ratio of 25.14 and a beta of 0.68. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.72 and a current ratio of 1.72. Madison Square Garden Co has a one year low of $205.22 and a one year high of $330.00.
Madison Square Garden (NYSE:MSG) last announced its earnings results on Thursday, November 1st. The company reported ($1.36) EPS for the quarter, topping the consensus estimate of ($2.13) by $0.77. The business had revenue of $218.14 million for the quarter, compared to the consensus estimate of $211.48 million. Madison Square Garden had a return on equity of 0.27% and a net margin of 7.86%. Madison Square Garden’s revenue was down 11.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.47) EPS. On average, sell-side analysts expect that Madison Square Garden Co will post 0.24 EPS for the current fiscal year.
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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.
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