Public Employees Retirement System of Ohio Makes New $1.84 Million Investment in The Madison Square Garden Company $MSGS

Public Employees Retirement System of Ohio purchased a new stake in The Madison Square Garden Company (NYSE:MSGS) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 4,575 shares of the company’s stock, valued at approximately $1,838,000.

Several other large investors have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its position in Madison Square Garden by 67.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 699,378 shares of the company’s stock worth $180,895,000 after purchasing an additional 282,318 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Madison Square Garden by 8.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 648,515 shares of the company’s stock worth $167,739,000 after buying an additional 49,412 shares during the period. Gamco Investors INC. ET AL grew its position in shares of Madison Square Garden by 1.1% in the 4th quarter. Gamco Investors INC. ET AL now owns 613,391 shares of the company’s stock valued at $158,654,000 after buying an additional 6,873 shares during the last quarter. State Street Corp grew its position in shares of Madison Square Garden by 3.0% in the 4th quarter. State Street Corp now owns 538,404 shares of the company’s stock valued at $139,258,000 after buying an additional 15,656 shares during the last quarter. Finally, Gabelli Funds LLC increased its stake in shares of Madison Square Garden by 0.9% in the fourth quarter. Gabelli Funds LLC now owns 394,292 shares of the company’s stock valued at $101,984,000 after buying an additional 3,607 shares during the period. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Stock Performance

Shares of MSGS stock opened at $391.29 on Monday. The Madison Square Garden Company has a fifty-two week low of $194.25 and a fifty-two week high of $438.93. The stock has a 50 day simple moving average of $395.46 and a two-hundred day simple moving average of $359.94. The company has a market cap of $9.42 billion, a P/E ratio of 1,304.34 and a beta of 0.60.

Madison Square Garden (NYSE:MSGS) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.52. The firm had revenue of $278.75 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 36.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.07) EPS. On average, research analysts predict that The Madison Square Garden Company will post -0.8 earnings per share for the current year.

Analyst Ratings Changes

MSGS has been the topic of a number of recent analyst reports. Guggenheim lifted their price objective on Madison Square Garden from $522.00 to $584.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Seaport Research Partners raised their price target on shares of Madison Square Garden from $430.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Zacks Research upgraded shares of Madison Square Garden from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th. Susquehanna upped 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. Finally, Citigroup increased their price objective on shares of Madison Square Garden from $355.00 to $360.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. 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 company has an average rating of “Hold” and an average price target of $471.20.

Madison Square Garden 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.