Twin Tree Management LP Invests $5.54 Million in Madison Square Garden Co (MSG) Stock

Twin Tree Management LP purchased a new stake in shares of Madison Square Garden Co (NYSE:MSG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 17,873 shares of the company’s stock, valued at approximately $5,544,000. Twin Tree Management LP owned about 0.08% of Madison Square Garden as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Quantitative Systematic Strategies LLC acquired a new stake in shares of Madison Square Garden during the 2nd quarter worth approximately $922,000. Trexquant Investment LP acquired a new stake in shares of Madison Square Garden during the 2nd quarter worth approximately $860,000. Strs Ohio bought a new position in Madison Square Garden during the 2nd quarter worth approximately $692,000. Toronto Dominion Bank bought a new position in Madison Square Garden during the 2nd quarter worth approximately $346,000. Finally, Bank of New York Mellon Corp boosted its stake in Madison Square Garden by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 67,112 shares of the company’s stock worth $20,818,000 after acquiring an additional 1,213 shares during the last quarter. 71.22% of the stock is owned by hedge funds and other institutional investors.

MSG has been the topic of several recent analyst reports. Morgan Stanley lifted their price objective on shares of Madison Square Garden from $245.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 2nd. TheStreet lowered shares of Madison Square Garden from a “b-” rating to a “c-” rating in a research note on Wednesday, May 2nd. Zacks Investment Research lowered shares of Madison Square Garden from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 8th. Jefferies Financial Group raised shares of Madison Square Garden from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $233.00 to $350.00 in a research note on Thursday, June 28th. Finally, ValuEngine raised shares of Madison Square Garden from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 28th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Madison Square Garden has a consensus rating of “Buy” and an average target price of $294.20.

Madison Square Garden stock traded down $0.46 during midday trading on Thursday, hitting $309.40. 1,062 shares of the stock were exchanged, compared to its average volume of 209,052. Madison Square Garden Co has a 52 week low of $205.22 and a 52 week high of $330.00. The firm has a market capitalization of $7.56 billion, a price-to-earnings ratio of -279.32, a PEG ratio of 14.62 and a beta of 0.44. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.85 and a quick ratio of 1.85.

Madison Square Garden Company Profile

The Madison Square Garden Company, through its subsidiaries, engages in 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, as well as promotes, produces, and/or presents a range 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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Institutional Ownership by Quarter for Madison Square Garden (NYSE:MSG)

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