Greenland Capital Management LP Invests $468,000 in The Madison Square Garden Company $MSGS

Greenland Capital Management LP purchased a new stake in shares of The Madison Square Garden Company (NYSE:MSGS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,241 shares of the company’s stock, valued at approximately $468,000.

Other large investors have also added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in shares of Madison Square Garden during the first quarter worth about $8,585,000. SG Americas Securities LLC lifted its holdings in Madison Square Garden by 1,021.4% in the 2nd quarter. SG Americas Securities LLC now owns 48,333 shares of the company’s stock worth $10,099,000 after buying an additional 44,023 shares during the period. Mackenzie Financial Corp grew its position in shares of Madison Square Garden by 99.9% in the 1st quarter. Mackenzie Financial Corp now owns 85,380 shares of the company’s stock worth $16,625,000 after buying an additional 42,661 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Madison Square Garden by 6.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 528,545 shares of the company’s stock valued at $102,919,000 after buying an additional 29,938 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of Madison Square Garden by 111.1% during the first quarter. AQR Capital Management LLC now owns 49,502 shares of the company’s stock valued at $9,518,000 after acquiring an additional 26,049 shares in the last quarter. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Trading Up 0.5%

Madison Square Garden stock opened at $215.75 on Thursday. The Madison Square Garden Company has a 12 month low of $173.26 and a 12 month high of $237.99. The business’s fifty day simple moving average is $220.51 and its two-hundred day simple moving average is $206.06. The company has a market capitalization of $5.18 billion, a price-to-earnings ratio of -220.15 and a beta of 0.77.

Madison Square Garden (NYSE:MSGS) last announced its quarterly earnings results on Friday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.67. The company had revenue of $39.45 million for the quarter, compared to analysts’ expectations of $41.41 million. Madison Square Garden had a negative net margin of 2.31% and a negative return on equity of 1.76%. Madison Square Garden’s revenue was down 26.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.31) EPS. On average, equities research analysts predict that The Madison Square Garden Company will post 0.73 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on MSGS. Zacks Research raised shares of Madison Square Garden from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Citigroup initiated coverage on shares of Madison Square Garden in a report on Tuesday, September 9th. They issued a “buy” rating and a $285.00 price objective for the company. JPMorgan Chase & Co. upped their target price on Madison Square Garden from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. BTIG Research began coverage on Madison Square Garden in a research report on Tuesday, October 7th. They set a “neutral” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Madison Square Garden in a research note on Thursday, November 13th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $260.50.

Madison Square Garden Company Profile

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.