Intrepid Capital Management Inc. boosted its position in shares of Madison Square Garden Co (NYSE:MSG) by 9.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,288 shares of the company’s stock after purchasing an additional 2,276 shares during the quarter. Madison Square Garden comprises 3.5% of Intrepid Capital Management Inc.’s holdings, making the stock its 10th biggest position. Intrepid Capital Management Inc. owned 0.11% of Madison Square Garden worth $7,639,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. raised its holdings in Madison Square Garden by 4.2% during the 1st quarter. BlackRock Inc. now owns 964,050 shares of the company’s stock worth $282,590,000 after purchasing an additional 38,682 shares during the last quarter. Renaissance Technologies LLC increased its stake in Madison Square Garden by 293.6% during the 2nd quarter. Renaissance Technologies LLC now owns 187,752 shares of the company’s stock worth $52,559,000 after purchasing an additional 140,052 shares in the last quarter. Geode Capital Management LLC increased its stake in Madison Square Garden by 11.2% during the 4th quarter. Geode Capital Management LLC now owns 172,666 shares of the company’s stock worth $46,222,000 after purchasing an additional 17,452 shares in the last quarter. Janus Henderson Group PLC increased its stake in Madison Square Garden by 9.9% during the 2nd quarter. Janus Henderson Group PLC now owns 126,207 shares of the company’s stock worth $35,330,000 after purchasing an additional 11,412 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Madison Square Garden by 0.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 123,602 shares of the company’s stock worth $34,602,000 after acquiring an additional 1,054 shares during the last quarter. 73.11% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the company. ValuEngine raised Madison Square Garden from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Morgan Stanley reduced their price target on Madison Square Garden from $340.00 to $320.00 and set an “equal weight” rating for the company in a research report on Thursday, August 22nd. Guggenheim set a $350.00 price target on Madison Square Garden and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Imperial Capital reduced their price target on Madison Square Garden from $377.00 to $362.00 and set an “outperform” rating for the company in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Madison Square Garden has a consensus rating of “Buy” and an average target price of $346.60.
Madison Square Garden (NYSE:MSG) last released its quarterly earnings results on Tuesday, August 20th. The company reported ($3.08) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $263.56 million for the quarter, compared to analyst estimates of $270.09 million. During the same period last year, the company earned ($1.94) EPS. The company’s revenue was down 17.1% compared to the same quarter last year. As a group, analysts anticipate that Madison Square Garden Co will post 0.69 earnings per share for the current fiscal year.
About Madison Square Garden
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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