Renaissance Technologies LLC grew its holdings in The Madison Square Garden Company (NYSE:MSG) by 100.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 227,800 shares of the company’s stock after buying an additional 113,900 shares during the quarter. Renaissance Technologies LLC owned approximately 1.20% of The Madison Square Garden worth $44,854,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Nordea Investment Management AB lifted its holdings in The Madison Square Garden by 13.2% in the 2nd quarter. Nordea Investment Management AB now owns 118,239 shares of the company’s stock worth $23,281,000 after buying an additional 13,770 shares during the period. Quantbot Technologies LP increased its stake in shares of The Madison Square Garden by 79.2% during the second quarter. Quantbot Technologies LP now owns 2,892 shares of the company’s stock valued at $569,000 after buying an additional 1,278 shares during the period. California Public Employees Retirement System increased its stake in shares of The Madison Square Garden by 2.2% during the second quarter. California Public Employees Retirement System now owns 41,166 shares of the company’s stock valued at $8,106,000 after buying an additional 900 shares during the period. FMR LLC increased its stake in shares of The Madison Square Garden by 12.6% during the second quarter. FMR LLC now owns 360,804 shares of the company’s stock valued at $71,042,000 after buying an additional 40,427 shares during the period. Finally, AlphaOne Investment Services LLC increased its stake in shares of The Madison Square Garden by 42.6% during the second quarter. AlphaOne Investment Services LLC now owns 6,700 shares of the company’s stock valued at $1,319,000 after buying an additional 2,000 shares during the period. Institutional investors and hedge funds own 70.83% of the company’s stock.

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MSG has been the subject of a number of research analyst reports. BTIG Research reaffirmed a “buy” rating and issued a $260.00 price target (up previously from $240.00) on shares of The Madison Square Garden in a research note on Tuesday, July 25th. Zacks Investment Research upgraded shares of The Madison Square Garden from a “hold” rating to a “strong-buy” rating and set a $224.00 price target on the stock in a report on Saturday, July 15th. Jefferies Group LLC boosted their price objective on shares of The Madison Square Garden from $185.00 to $200.00 and gave the company a “hold” rating in a research report on Friday, August 18th. Finally, Morgan Stanley reissued an “overweight” rating and set a $245.00 price objective (up from $215.00) on shares of The Madison Square Garden in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $211.50.

The Madison Square Garden Company (NYSE:MSG) opened at 214.10 on Monday. The firm has a 50-day moving average price of $216.35 and a 200-day moving average price of $203.65. The Madison Square Garden Company has a 12-month low of $160.96 and a 12-month high of $226.95. The company’s market cap is $5.04 billion.

The Madison Square Garden (NYSE:MSG) last issued its earnings results on Thursday, August 17th. The company reported ($3.58) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.10) by ($2.48). The firm had revenue of $305.60 million for the quarter, compared to the consensus estimate of $279.19 million. The Madison Square Garden had a negative net margin of 5.52% and a negative return on equity of 2.43%. The company’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period last year, the firm earned ($2.39) earnings per share. On average, equities research analysts forecast that The Madison Square Garden Company will post $0.76 earnings per share for the current fiscal year.

The Madison Square Garden Company Profile

The Madison Square Garden Company is a holding company, which is engaged in live experiences consisting of celebrated venues, sports teams, and entertainment productions. The Company operates in two segments, which include MSG Entertainment and MSG Sports. The MSG Sports segment includes the Company’s professional sports franchises, which include the New York Knicks (the Knicks) of the National Basketball Association (the NBA), the New York Rangers (the Rangers) of the National Hockey League (the NHL), the New York Liberty (the Liberty) of the Women’s National Basketball Association (the WNBA), the Hartford Wolf Pack of the American Hockey League (the AHL), which is the primary player development team for the Rangers, and the Westchester Knicks, an NBA Development League team.

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

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