Fox Run Management L.L.C. Invests $1.40 Million in The Madison Square Garden Company $MSGS

Fox Run Management L.L.C. acquired a new stake in The Madison Square Garden Company (NYSE:MSGS) during the second quarter, Holdings Channel reports. The institutional investor acquired 6,710 shares of the company’s stock, valued at approximately $1,402,000.

Several other large investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. increased its stake in Madison Square Garden by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 83,241 shares of the company’s stock valued at $16,209,000 after buying an additional 1,989 shares during the last quarter. Atria Wealth Solutions Inc. boosted its stake in shares of Madison Square Garden by 100.0% during the 1st quarter. Atria Wealth Solutions Inc. now owns 3,100 shares of the company’s stock worth $604,000 after buying an additional 1,550 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Madison Square Garden in the 1st quarter valued at about $575,000. Inspire Trust Co. N.A. increased its position in shares of Madison Square Garden by 28.6% in the first quarter. Inspire Trust Co. N.A. now owns 9,000 shares of the company’s stock valued at $1,752,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Madison Square Garden by 523.2% during the first quarter. Victory Capital Management Inc. now owns 347,800 shares of the company’s stock worth $67,724,000 after acquiring an additional 291,989 shares in the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MSGS. Weiss Ratings upgraded Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Saturday, October 25th. BTIG Research initiated coverage on shares of Madison Square Garden in a research note on Tuesday, October 7th. They issued a “neutral” rating for the company. Wolfe Research restated an “outperform” rating on shares of Madison Square Garden in a report on Monday. JPMorgan Chase & Co. upped their price target on shares of Madison Square Garden from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Finally, Morgan Stanley lifted their price objective on shares of Madison Square Garden from $215.00 to $220.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 13th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Madison Square Garden presently has a consensus rating of “Moderate Buy” and a consensus target price of $260.50.

Madison Square Garden Trading Up 1.9%

MSGS opened at $219.82 on Friday. The stock’s fifty day simple moving average is $217.66 and its 200 day simple moving average is $204.53. The Madison Square Garden Company has a 1-year low of $173.26 and a 1-year high of $237.99. The stock has a market cap of $5.28 billion, a PE ratio of -224.30 and a beta of 0.77.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings data on Friday, October 31st. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($1.04) by $0.67. The firm had revenue of $39.45 million for the quarter, compared to the consensus estimate of $41.41 million. Madison Square Garden had a negative net margin of 2.31% and a negative return on equity of 1.76%. The company’s quarterly revenue was down 26.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.31) earnings per share. Equities analysts forecast that The Madison Square Garden Company will post 0.73 earnings per share for the current year.

About Madison Square Garden

Madison Square Garden Sports Corp. operates as a professional sports company in the United States. The company owns and operates a portfolio of assets that consists of the New York Knickerbockers of the National Basketball Association (NBA) and the New York Rangers of the National Hockey League. Its other professional franchises include development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.