The Madison Square Garden Company $MSGS Stake Cut by California Public Employees Retirement System

California Public Employees Retirement System reduced its stake in The Madison Square Garden Company (NYSE:MSGS) by 16.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,004 shares of the company’s stock after selling 7,407 shares during the period. California Public Employees Retirement System’s holdings in Madison Square Garden were worth $11,893,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new stake in Madison Square Garden during the fourth quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Madison Square Garden by 67.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 122 shares of the company’s stock valued at $32,000 after purchasing an additional 49 shares during the last quarter. SJS Investment Consulting Inc. boosted its holdings in Madison Square Garden by 488.2% in the first quarter. SJS Investment Consulting Inc. now owns 100 shares of the company’s stock worth $32,000 after purchasing an additional 83 shares in the last quarter. Global Retirement Partners LLC increased its position in Madison Square Garden by 1,150.0% during the fourth quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock worth $32,000 after buying an additional 115 shares during the last quarter. Finally, Salomon & Ludwin LLC raised its holdings in Madison Square Garden by 33.1% during the fourth quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock valued at $40,000 after buying an additional 39 shares in the last quarter. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Price Performance

Madison Square Garden stock opened at $396.01 on Friday. The firm has a market cap of $9.54 billion, a PE ratio of -425.81 and a beta of 0.61. The stock’s fifty day moving average price is $380.53 and its two-hundred day moving average price is $334.74. The Madison Square Garden Company has a one year low of $188.60 and a one year high of $411.73.

Madison Square Garden (NYSE:MSGS) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($1.39). The firm had revenue of $432.20 million for the quarter, compared to the consensus estimate of $429.66 million. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.59) EPS. Sell-side analysts expect that The Madison Square Garden Company will post -0.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MSGS has been the topic of several research analyst reports. Wall Street Zen raised Madison Square Garden from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Guggenheim boosted their price target on shares of Madison Square Garden from $470.00 to $522.00 and gave the company a “buy” rating in a report on Thursday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Madison Square Garden in a report on Wednesday, June 24th. Zacks Research lowered shares of Madison Square Garden from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th. Finally, Morgan Stanley raised shares of Madison Square Garden from an “equal weight” rating to an “overweight” rating and set a $450.00 price target for the company in a report on Wednesday, July 15th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $442.40.

About Madison Square Garden

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.