State of New Jersey Common Pension Fund D Buys 354 Shares of The Madison Square Garden Company $MSGS

State of New Jersey Common Pension Fund D grew its stake in shares of The Madison Square Garden Company (NYSE:MSGS) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,900 shares of the company’s stock after buying an additional 354 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Madison Square Garden were worth $2,069,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL boosted its holdings in Madison Square Garden by 2.5% during the first quarter. Gamco Investors INC. ET AL now owns 603,324 shares of the company’s stock worth $117,479,000 after buying an additional 14,669 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Madison Square Garden by 6.0% during the first 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. Greenhouse Funds LLLP boosted its holdings in Madison Square Garden by 3.5% during the first quarter. Greenhouse Funds LLLP now owns 408,327 shares of the company’s stock worth $79,509,000 after buying an additional 13,707 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Madison Square Garden by 523.2% during the first quarter. Victory Capital Management Inc. now owns 347,800 shares of the company’s stock worth $67,724,000 after buying an additional 291,989 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Madison Square Garden by 15.9% during the first quarter. Northern Trust Corp now owns 135,191 shares of the company’s stock worth $26,324,000 after buying an additional 18,529 shares during the last quarter. Institutional investors own 68.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MSGS shares. BTIG Research started coverage on Madison Square Garden in a research report on Tuesday, October 7th. They set a “neutral” rating on the stock. Morgan Stanley raised their price target on Madison Square Garden from $215.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 13th. Citigroup started coverage on Madison Square Garden in a research report on Tuesday, September 9th. They set a “buy” rating and a $285.00 price target on the stock. Weiss Ratings raised Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday, October 25th. Finally, Zacks Research raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Madison Square Garden currently has an average rating of “Moderate Buy” and a consensus price target of $258.83.

Madison Square Garden Stock Performance

Shares of Madison Square Garden stock opened at $224.90 on Thursday. The business’s 50 day simple moving average is $214.74 and its 200 day simple moving average is $203.24. The Madison Square Garden Company has a 52-week low of $173.26 and a 52-week high of $237.99. The firm has a market cap of $5.40 billion, a PE ratio of -244.46 and a beta of 0.78.

Madison Square Garden (NYSE:MSGS) last announced its earnings results on Tuesday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $203.96 million for the quarter, compared to analyst estimates of $151.00 million. During the same quarter last year, the firm earned $1.06 EPS. Madison Square Garden’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, equities research analysts predict that The Madison Square Garden Company will post 0.73 EPS for the current year.

About Madison Square Garden

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.