Principal Financial Group Inc. Acquires 1,755 Shares of The Madison Square Garden Company $MSGS

Principal Financial Group Inc. raised its holdings in The Madison Square Garden Company (NYSE:MSGS) by 2.1% during the first quarter, HoldingsChannel reports. The firm owned 87,058 shares of the company’s stock after acquiring an additional 1,755 shares during the quarter. Principal Financial Group Inc.’s holdings in Madison Square Garden were worth $27,980,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Chicago Partners Investment Group LLC lifted its position in shares of Madison Square Garden by 49.4% during the 1st quarter. Chicago Partners Investment Group LLC now owns 1,210 shares of the company’s stock worth $406,000 after buying an additional 400 shares during the last quarter. Diversify Wealth Management LLC raised its stake in Madison Square Garden by 60.0% during the first quarter. Diversify Wealth Management LLC now owns 1,184 shares of the company’s stock worth $391,000 after acquiring an additional 444 shares in the last quarter. Fifth Third Bancorp raised its stake in Madison Square Garden by 3,580.9% during the first quarter. Fifth Third Bancorp now owns 4,822 shares of the company’s stock worth $1,550,000 after acquiring an additional 4,691 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Madison Square Garden by 1.5% in the first quarter. Hsbc Holdings PLC now owns 21,752 shares of the company’s stock worth $6,936,000 after acquiring an additional 331 shares during the last quarter. Finally, Kestra Advisory Services LLC lifted its holdings in shares of Madison Square Garden by 7.2% in the first quarter. Kestra Advisory Services LLC now owns 789 shares of the company’s stock worth $253,000 after acquiring an additional 53 shares during the last quarter. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Stock Performance

Madison Square Garden stock opened at $396.04 on Monday. The firm has a market cap of $9.54 billion, a price-to-earnings ratio of -425.84 and a beta of 0.61. The Madison Square Garden Company has a 52-week low of $188.60 and a 52-week high of $411.73. The firm has a 50 day moving average price of $375.44 and a two-hundred day moving average price of $330.44.

Madison Square Garden (NYSE:MSGS) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($1.39). The firm had revenue of $432.20 million for the quarter, compared to the consensus estimate of $429.66 million. During the same quarter in the prior year, the company posted ($0.59) earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. As a group, equities research analysts predict that The Madison Square Garden Company will post -0.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MSGS shares. Guggenheim increased their price objective on shares of Madison Square Garden from $422.00 to $470.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Susquehanna boosted their target price on shares of Madison Square Garden from $429.00 to $430.00 and gave the stock a “positive” rating in a research note on Tuesday, June 23rd. Wall Street Zen upgraded Madison Square Garden from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reissued a “hold (c-)” rating on shares of Madison Square Garden in a report on Wednesday, June 24th. Finally, Morgan Stanley upgraded Madison Square Garden from an “equal weight” rating to an “overweight” rating and set a $450.00 price objective on the stock in a research report on Wednesday, July 15th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $403.00.

Madison Square Garden Company Profile

Madison Square Garden Sports Corp (NYSE: MSGS) is a leading sports and entertainment holding company focused on professional sports franchises and related media assets. The company owns and operates teams such as the NBA’s New York Knicks, the NHL’s New York Rangers and the WNBA’s New York Liberty. Through these flagship franchises, MSG Sports offers a range of products and services including ticketing, premium seating and sponsorship opportunities, targeting fans in the New York metropolitan area and beyond.

In addition to team operations, Madison Square Garden Sports Corp holds a majority stake in MSG Networks, a regional cable network that broadcasts live sporting events, news and original programming.