Madison Square Garden Co (MSG) Shares Bought by MARSHALL WACE ASIA Ltd
MARSHALL WACE ASIA Ltd lifted its stake in Madison Square Garden Co (NYSE:MSG) by 37.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 349,184 shares of the company’s stock after purchasing an additional 95,400 shares during the quarter. Madison Square Garden accounts for 3.7% of MARSHALL WACE ASIA Ltd’s portfolio, making the stock its 5th largest position. MARSHALL WACE ASIA Ltd owned about 1.48% of Madison Square Garden worth $110,105,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Strs Ohio acquired a new position in Madison Square Garden in the second quarter worth approximately $692,000. Partner Investment Management L.P. acquired a new position in Madison Square Garden in the second quarter worth approximately $1,288,000. Three Peaks Capital Management LLC increased its holdings in Madison Square Garden by 12.6% in the third quarter. Three Peaks Capital Management LLC now owns 7,546 shares of the company’s stock worth $2,379,000 after buying an additional 842 shares during the last quarter. NumerixS Investment Technologies Inc increased its holdings in Madison Square Garden by 106.7% in the second quarter. NumerixS Investment Technologies Inc now owns 3,100 shares of the company’s stock worth $940,000 after buying an additional 1,600 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Madison Square Garden by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 67,112 shares of the company’s stock worth $20,818,000 after buying an additional 1,213 shares during the last quarter. 69.86% of the stock is owned by institutional investors and hedge funds.
MSG stock traded up $9.02 during midday trading on Thursday, hitting $271.02. 466,523 shares of the company traded hands, compared to its average volume of 229,318. Madison Square Garden Co has a twelve month low of $205.22 and a twelve month high of $330.00. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The company has a market cap of $6.20 billion, a PE ratio of 45.63, a price-to-earnings-growth ratio of 43.38 and a beta of 0.68.
Several equities analysts have commented on MSG shares. Imperial Capital started coverage on Madison Square Garden in a report on Tuesday, August 21st. They set an “outperform” rating and a $372.00 price target on the stock. Guggenheim increased their price target on Madison Square Garden to $350.00 and gave the company a “buy” rating in a report on Thursday, August 23rd. Zacks Investment Research upgraded Madison Square Garden from a “sell” rating to a “hold” rating in a report on Wednesday, October 17th. Macquarie reiterated a “buy” rating and set a $356.00 price target on shares of Madison Square Garden in a report on Tuesday, October 30th. Finally, Morgan Stanley increased their price target on Madison Square Garden from $315.00 to $320.00 and gave the company an “equal weight” rating in a report on Wednesday, October 31st. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $342.67.
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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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