California Public Employees Retirement System Sells 7,407 Shares of The Madison Square Garden Company $MSGS

California Public Employees Retirement System decreased its holdings in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) by 16.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 37,004 shares of the company's stock after selling 7,407 shares during the quarter. California Public Employees Retirement System owned 0.15% of Madison Square Garden worth $11,893,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MSGS. Aster Capital Management DIFC Ltd acquired a new stake in shares of Madison Square Garden during the fourth quarter worth about $26,000. Caitong International Asset Management Co. Ltd boosted its holdings in 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. lifted its stake in shares of Madison Square Garden by 488.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 100 shares of the company's stock valued at $32,000 after purchasing an additional 83 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of Madison Square Garden by 1,150.0% during the 4th quarter. Global Retirement Partners LLC now owns 125 shares of the company's stock worth $32,000 after purchasing an additional 115 shares during the period. Finally, Salomon & Ludwin LLC boosted its holdings in Madison Square Garden by 33.1% during the 4th quarter. Salomon & Ludwin LLC now owns 157 shares of the company's stock valued at $40,000 after acquiring an additional 39 shares during the period. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on MSGS. Citigroup boosted their price target on shares of Madison Square Garden from $355.00 to $360.00 and gave the stock a "neutral" rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. upped their target price on shares of Madison Square Garden from $400.00 to $450.00 and gave the company an "overweight" rating in a report on Tuesday. Morgan Stanley raised Madison Square Garden from an "equal weight" rating to an "overweight" rating and set a $450.00 target price for the company in a report on Wednesday, July 15th. Zacks Research cut shares of Madison Square Garden from a "hold" rating to a "strong sell" rating in a report on Thursday, July 16th. Finally, Susquehanna boosted their price target on Madison Square Garden from $429.00 to $430.00 and gave the stock a "positive" rating in a research note on Tuesday, June 23rd. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Madison Square Garden currently has a consensus rating of "Hold" and an average target price of $442.40.

Madison Square Garden Stock Performance

Shares of MSGS opened at $396.01 on Friday. The Madison Square Garden Company has a 1 year low of $188.60 and a 1 year high of $411.73. The company's 50 day simple moving average is $380.53 and its 200 day simple moving average is $334.74. The company has a market capitalization of $9.54 billion, a price-to-earnings ratio of -425.81 and a beta of 0.61.

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

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.

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