California State Teachers Retirement System Acquires 7,179,708 Shares of The Madison Square Garden Company $MSGS

California State Teachers Retirement System grew its holdings in The Madison Square Garden Company (NYSE:MSGS) by 38,910.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,198,160 shares of the company’s stock after purchasing an additional 7,179,708 shares during the quarter. California State Teachers Retirement System owned about 0.30% of Madison Square Garden worth $2,892,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in MSGS. Amundi increased its holdings in Madison Square Garden by 4.7% in the first quarter. Amundi now owns 5,643 shares of the company’s stock worth $1,091,000 after purchasing an additional 252 shares in the last quarter. Millennium Management LLC lifted its stake in Madison Square Garden by 8.0% in the first quarter. Millennium Management LLC now owns 27,147 shares of the company’s stock valued at $5,286,000 after buying an additional 2,006 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Madison Square Garden by 28.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 24,807 shares of the company’s stock worth $4,830,000 after buying an additional 5,452 shares in the last quarter. United Services Automobile Association bought a new position in shares of Madison Square Garden during the 1st quarter worth approximately $210,000. Finally, Empowered Funds LLC boosted its holdings in shares of Madison Square Garden by 10.8% during the 1st quarter. Empowered Funds LLC now owns 2,055 shares of the company’s stock worth $400,000 after buying an additional 200 shares in the last quarter. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Stock Performance

Shares of NYSE:MSGS opened at $392.64 on Friday. The business’s 50 day simple moving average is $394.96 and its two-hundred day simple moving average is $361.94. The firm has a market cap of $9.45 billion, a P/E ratio of 1,308.86 and a beta of 0.60. The Madison Square Garden Company has a 52-week low of $204.42 and a 52-week high of $438.93.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings data on Wednesday, August 12th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.64 by $0.52. The firm had revenue of $278.75 million during the quarter, compared to the consensus estimate of $227.67 million. Madison Square Garden had a negative return on equity of 3.47% and a net margin of 0.67%.The company’s quarterly revenue was up 36.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.07) earnings per share. On average, equities analysts forecast that The Madison Square Garden Company will post -0.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MSGS shares. Susquehanna lifted their price objective on shares of Madison Square Garden from $430.00 to $477.00 and gave the company a “positive” rating in a research note on Friday, August 14th. Morgan Stanley upgraded shares of Madison Square Garden from an “equal weight” rating to an “overweight” rating and set a $450.00 target price on the stock in a research report on Wednesday, July 15th. Zacks Research raised shares of Madison Square Garden from a “strong sell” rating to a “hold” rating in a research note on Friday, August 14th. Guggenheim raised their price target on shares of Madison Square Garden from $522.00 to $584.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Finally, Seaport Research Partners lifted their price target on shares of Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $471.20.

Madison Square Garden Company Profile

Madison Square Garden Sports Corp. is a professional sports and entertainment company headquartered in New York. The company owns and operates the New York Knicks of the National Basketball Association and the New York Rangers of the National Hockey League. Through these franchises, it manages team operations, ticketing, sponsorships, media rights, merchandising and other commercial activities connected with professional sports.

Madison Square Garden Sports also owns the Hartford Wolf Pack, a minor-league hockey team affiliated with the Rangers, and has been involved in esports through Knicks Gaming, its NBA 2K League team.