Cubist Systematic Strategies LLC grew its stake in shares of Madison Square Garden Co (NYSE:MSG) by 5,878.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,978 shares of the company’s stock after acquiring an additional 5,878 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Madison Square Garden were worth $1,854,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Madison Square Garden by 3.1% during the 2nd quarter. BlackRock Inc. now owns 837,230 shares of the company’s stock valued at $259,701,000 after acquiring an additional 24,807 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Madison Square Garden by 13.2% in the second quarter. Renaissance Technologies LLC now owns 436,199 shares of the company’s stock worth $135,305,000 after buying an additional 50,999 shares during the last quarter. Scopus Asset Management L.P. boosted its holdings in shares of Madison Square Garden by 65.9% in the first quarter. Scopus Asset Management L.P. now owns 365,000 shares of the company’s stock worth $89,717,000 after buying an additional 145,000 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Madison Square Garden by 0.8% in the second quarter. Janus Henderson Group PLC now owns 320,744 shares of the company’s stock worth $99,492,000 after buying an additional 2,440 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Madison Square Garden by 19.6% in the first quarter. Point72 Asset Management L.P. now owns 303,242 shares of the company’s stock worth $74,537,000 after buying an additional 49,603 shares during the last quarter. 70.45% of the stock is currently owned by hedge funds and other institutional investors.

MSG opened at $309.10 on Friday. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $7.37 billion, a P/E ratio of 52.04, a price-to-earnings-growth ratio of 17.14 and a beta of 0.37. Madison Square Garden Co has a 12-month low of $205.22 and a 12-month high of $330.00.

Madison Square Garden (NYSE:MSG) last posted its quarterly earnings data on Thursday, August 16th. The company reported ($1.94) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.00) by $0.06. The company had revenue of $318.00 million for the quarter, compared to the consensus estimate of $293.32 million. Madison Square Garden had a net margin of 9.08% and a return on equity of 1.10%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($3.58) earnings per share. equities research analysts predict that Madison Square Garden Co will post 0.71 earnings per share for the current year.

MSG has been the topic of a number of research reports. Jefferies Financial Group raised shares of Madison Square Garden from a “hold” rating to a “buy” rating and raised their price objective for the stock from $233.00 to $350.00 in a report on Thursday, June 28th. Guggenheim raised their price objective on shares of Madison Square Garden to $350.00 and gave the stock a “buy” rating in a report on Thursday, August 23rd. Morgan Stanley raised their price objective on shares of Madison Square Garden from $260.00 to $315.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 1st. Imperial Capital initiated coverage on shares of Madison Square Garden in a report on Tuesday, August 21st. They issued an “outperform” rating and a $372.00 price objective on the stock. Finally, Macquarie raised shares of Madison Square Garden from a “neutral” rating to an “outperform” rating in a report on Friday, June 29th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $322.17.

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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