Renaissance Technologies LLC Acquires 54,100 Shares of The Madison Square Garden Company $MSGS

Renaissance Technologies LLC raised its holdings in shares of The Madison Square Garden Company (NYSE:MSGS) by 45.9% in the 1st quarter, HoldingsChannel reports. The firm owned 172,000 shares of the company’s stock after buying an additional 54,100 shares during the period. Renaissance Technologies LLC’s holdings in Madison Square Garden were worth $55,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MSGS. SJS Investment Consulting Inc. boosted its position in Madison Square Garden by 488.2% during the first quarter. SJS Investment Consulting Inc. now owns 100 shares of the company’s stock worth $32,000 after purchasing an additional 83 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of Madison Square Garden in the fourth quarter valued at about $26,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Madison Square Garden by 67.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 122 shares of the company’s stock worth $32,000 after buying an additional 49 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of Madison Square Garden by 1,150.0% during the 4th quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock worth $32,000 after buying an additional 115 shares during the last quarter. Finally, Salomon & Ludwin LLC boosted its holdings in shares of Madison Square Garden by 33.1% during the 4th quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock worth $40,000 after buying an additional 39 shares during the period. 68.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MSGS has been the topic of a number of research reports. Wall Street Zen upgraded shares of Madison Square Garden from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Susquehanna raised their price objective on shares of Madison Square Garden from $429.00 to $430.00 and gave the stock a “positive” rating in a research report on Tuesday, June 23rd. Morgan Stanley upgraded Madison Square Garden from an “equal weight” rating to an “overweight” rating and set a $450.00 price objective for the company in a report on Wednesday, July 15th. Guggenheim upped their target price on Madison Square Garden from $470.00 to $522.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Seaport Research Partners increased their target price on Madison Square Garden from $430.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $442.40.

Madison Square Garden Stock Performance

Shares of Madison Square Garden stock opened at $396.01 on Monday. The firm has a 50-day moving average of $380.53 and a 200-day moving average of $335.30. The stock has a market cap of $9.54 billion, a PE ratio of -425.81 and a beta of 0.61. The Madison Square Garden Company has a 52-week low of $188.60 and a 52-week high of $411.73.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of $0.56 by ($1.39). The company had revenue of $432.20 million for the quarter, compared to analyst estimates of $429.66 million. During the same quarter in the previous year, the business earned ($0.59) EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities research analysts predict that The Madison Square Garden Company will post -0.06 earnings per share for the current fiscal year.

Madison Square Garden Profile

Madison Square Garden Sports Corp (NYSE: MSGS) is a leading sports and entertainment holding company focused on professional sports franchises and related media assets. The company owns and operates teams such as the NBA’s New York Knicks, the NHL’s New York Rangers and the WNBA’s New York Liberty. Through these flagship franchises, MSG Sports offers a range of products and services including ticketing, premium seating and sponsorship opportunities, targeting fans in the New York metropolitan area and beyond.

In addition to team operations, Madison Square Garden Sports Corp holds a majority stake in MSG Networks, a regional cable network that broadcasts live sporting events, news and original programming.