Significant Discounts, Accumulate, High Conviction
Madison Square Garden Sports Corp. (MSGS, Parent) and Madison Square Garden Entertainment Corp. (MSGE, Spinoff) completed their first day of separated trading yesterday (April 20, 2020), with shareholders of the combined entity seeing a one-day return of +4.4% compared to the S&P 500 Index return of -1.8%. Both companies are trading at discounts to their asset valuations, providing attractive entry levels for investors not yet involved.The Edge Recommends Investors Buy MSGE (Spin) at Current Levels
MSGS (Parent Ex-Spin) Trading at a 25% Discount to Sports Teams Valuations
MSGE Currently Valued at a 60% Discount to Venue Asset Valuations
Revenue Growth (Sphere Las Vegas) & Cash (Forum Sale) to Come for MSGE
Both MSGS & MSGE are Current Spinoff Model Portfolio Holdings
The Edge Group - Global Fundamental Catalyst Investing. The Edge provides investors with access to hidden corporate value from Global Special Situations using a pioneering approach to investments. Founded in 2005 by fund management and investment banking professionals to provide high quality, private equity-level research on Global Corporate Divestitures for the benefit of fundamental event-driven, growth and value-oriented investors in this difficult to track, but proven investment space.
The Edge will look to screen and analyze include Spinoffs; Reverse Morris Trusts; Squeeze Outs; Privatizations; Demutualization; Deep Discounted; Rights Issues; Rights Offering; Restructuring; Insider Purchases / Buying Change of Management / CEO Change; Deteriorating fundamentals; Post-Bankruptcy; Reorganization; Tender Offer; M&A Deals; Secondary Offering; Share Swap; Thrift Conversions; Share Buybacks; Activist; Mergers. All analyzed from a fundamental point of view.
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