Louisiana State Employees Retirement System Cuts Stock Holdings in The Madison Square Garden Company $MSGS

Louisiana State Employees Retirement System trimmed its position in shares of The Madison Square Garden Company (NYSE:MSGS) by 1.3% during the second quarter, Holdings Channel.com reports. The fund owned 7,800 shares of the company’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Madison Square Garden were worth $1,630,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MSGS. Victory Capital Management Inc. boosted its holdings in Madison Square Garden by 523.2% during the 1st quarter. Victory Capital Management Inc. now owns 347,800 shares of the company’s stock worth $67,724,000 after acquiring an additional 291,989 shares during the last quarter. Nuveen LLC purchased a new position in shares of Madison Square Garden in the 1st quarter worth about $8,585,000. Mackenzie Financial Corp boosted its holdings in shares of Madison Square Garden by 99.9% in the 1st quarter. Mackenzie Financial Corp now owns 85,380 shares of the company’s stock worth $16,625,000 after buying an additional 42,661 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Madison Square Garden by 6.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 528,545 shares of the company’s stock worth $102,919,000 after buying an additional 29,938 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Madison Square Garden by 111.1% in the 1st quarter. AQR Capital Management LLC now owns 49,502 shares of the company’s stock worth $9,518,000 after buying an additional 26,049 shares during the last quarter. 68.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Madison Square Garden from $215.00 to $220.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 13th. Citigroup assumed coverage on Madison Square Garden in a research note on Tuesday, September 9th. They issued a “buy” rating and a $285.00 price objective on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Madison Square Garden in a research note on Wednesday, October 8th. Finally, BTIG Research assumed coverage on Madison Square Garden in a research note on Tuesday, October 7th. They issued a “neutral” rating on the stock. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Madison Square Garden presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.83.

Madison Square Garden Stock Down 1.6%

Shares of MSGS opened at $215.09 on Monday. The business’s 50-day moving average price is $208.29 and its 200-day moving average price is $200.00. The Madison Square Garden Company has a twelve month low of $173.26 and a twelve month high of $237.99. The stock has a market cap of $5.16 billion, a PE ratio of -233.79 and a beta of 0.78.

Madison Square Garden (NYSE:MSGS) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.35. Madison Square Garden had a negative return on equity of 1.76% and a negative net margin of 2.16%.The firm had revenue of $203.96 million for the quarter, compared to analysts’ expectations of $151.00 million. During the same period in the prior year, the business posted $1.06 earnings per share. The company’s revenue was down 10.3% on a year-over-year basis. Analysts expect that The Madison Square Garden Company will post 0.73 earnings per share for the current fiscal year.

Madison Square Garden Profile

Madison Square Garden Sports Corp. operates as a professional sports company in the United States. The company owns and operates a portfolio of assets that consists of the New York Knickerbockers of the National Basketball Association (NBA) and the New York Rangers of the National Hockey League. Its other professional franchises include development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.