Long Pond Capital LP Buys Shares of 33,342 Madison Square Garden Co (NYSE:MSG)

Long Pond Capital LP purchased a new position in Madison Square Garden Co (NYSE:MSG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 33,342 shares of the company’s stock, valued at approximately $9,334,000. Long Pond Capital LP owned about 0.14% of Madison Square Garden at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its stake in shares of Madison Square Garden by 4.0% in the 2nd quarter. HighTower Advisors LLC now owns 6,683 shares of the company’s stock worth $1,868,000 after buying an additional 259 shares during the last quarter. Toronto Dominion Bank purchased a new position in shares of Madison Square Garden in the 2nd quarter worth $346,000. Seeyond boosted its stake in shares of Madison Square Garden by 105.4% in the 2nd quarter. Seeyond now owns 267 shares of the company’s stock worth $75,000 after buying an additional 137 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Madison Square Garden in the 2nd quarter worth $165,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Madison Square Garden by 293.6% in the 2nd quarter. Renaissance Technologies LLC now owns 187,752 shares of the company’s stock worth $52,559,000 after buying an additional 140,052 shares during the last quarter. Hedge funds and other institutional investors own 73.11% of the company’s stock.

A number of equities analysts have recently issued reports on MSG shares. Morgan Stanley dropped their price target on Madison Square Garden from $340.00 to $320.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. ValuEngine upgraded Madison Square Garden from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Guggenheim set a $350.00 price target on Madison Square Garden and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Imperial Capital dropped their price target on Madison Square Garden from $377.00 to $362.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $346.60.

Shares of Madison Square Garden stock opened at $266.10 on Friday. Madison Square Garden Co has a one year low of $240.33 and a one year high of $317.70. The stock’s fifty day moving average is $273.18 and its 200 day moving average is $289.64. The stock has a market cap of $6.05 billion, a P/E ratio of 554.38 and a beta of 0.54. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.86 and a current ratio of 1.86.

Madison Square Garden (NYSE:MSG) last announced its earnings results on Tuesday, August 20th. The company reported ($3.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.34) by ($0.74). Madison Square Garden had a return on equity of 0.43% and a net margin of 0.70%. The company had revenue of $263.56 million during the quarter, compared to the consensus estimate of $270.09 million. During the same period in the prior year, the business posted ($1.94) earnings per share. Madison Square Garden’s revenue for the quarter was down 17.1% compared to the same quarter last year. Analysts predict that Madison Square Garden Co will post 0.69 EPS for the current year.

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

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