Point72 Asset Management L.P. Has $3.80 Million Stock Position in Madison Square Garden Co (NYSE:MSG)

Point72 Asset Management L.P. raised its holdings in shares of Madison Square Garden Co (NYSE:MSG) by 29.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 14,400 shares of the company’s stock after buying an additional 3,238 shares during the period. Point72 Asset Management L.P.’s holdings in Madison Square Garden were worth $3,795,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Renaissance Technologies LLC increased its position in shares of Madison Square Garden by 293.6% in the second quarter. Renaissance Technologies LLC now owns 187,752 shares of the company’s stock valued at $52,559,000 after acquiring an additional 140,052 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Madison Square Garden by 8.4% in the 2nd quarter. BlackRock Inc. now owns 1,044,764 shares of the company’s stock valued at $292,473,000 after buying an additional 80,714 shares during the last quarter. Atalan Capital Partners LP boosted its holdings in shares of Madison Square Garden by 33.3% in the 2nd quarter. Atalan Capital Partners LP now owns 319,900 shares of the company’s stock valued at $89,553,000 after buying an additional 79,900 shares during the last quarter. Nuveen Asset Management LLC bought a new position in shares of Madison Square Garden in the second quarter valued at $20,279,000. Finally, Maplelane Capital LLC bought a new position in shares of Madison Square Garden in the second quarter valued at $13,997,000. 70.48% of the stock is owned by institutional investors.

Shares of NYSE MSG opened at $276.51 on Tuesday. The business’s 50 day moving average price is $272.28 and its two-hundred day moving average price is $278.00. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.55 and a quick ratio of 1.55. Madison Square Garden Co has a twelve month low of $240.33 and a twelve month high of $315.95.

Madison Square Garden (NYSE:MSG) last released its quarterly earnings data on Friday, November 8th. The company reported ($3.36) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($2.29) by ($1.07). Madison Square Garden had a negative net margin of 2.23% and a negative return on equity of 1.38%. The business had revenue of $214.78 million during the quarter, compared to analyst estimates of $227.52 million. During the same period in the previous year, the business earned ($1.36) earnings per share. The business’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, equities research analysts expect that Madison Square Garden Co will post -0.8 EPS for the current fiscal year.

A number of brokerages recently weighed in on MSG. Morgan Stanley dropped their price target on shares of Madison Square Garden from $340.00 to $320.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 22nd. ValuEngine cut shares of Madison Square Garden from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Imperial Capital decreased their price objective on shares of Madison Square Garden from $362.00 to $358.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Finally, Guggenheim set a $350.00 price objective on shares of Madison Square Garden and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Madison Square Garden currently has a consensus rating of “Buy” and an average target price of $343.25.

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

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