California State Teachers Retirement System trimmed its holdings in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) by 2.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,913 shares of the company's stock after selling 539 shares during the quarter. California State Teachers Retirement System owned 0.07% of Madison Square Garden worth $7,198,160 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in MSGS. HB Wealth Management LLC acquired a new position in Madison Square Garden during the second quarter worth $225,000. Odyssean LLC boosted its stake in shares of Madison Square Garden by 64.4% during the 2nd quarter. Odyssean LLC now owns 7,728 shares of the company's stock worth $3,105,000 after acquiring an additional 3,028 shares during the last quarter. Syon Capital LLC grew its holdings in Madison Square Garden by 9.9% during the 2nd quarter. Syon Capital LLC now owns 1,775 shares of the company's stock valued at $713,000 after buying an additional 160 shares in the last quarter. AXQ Capital LP bought a new stake in Madison Square Garden during the 2nd quarter valued at about $2,638,000. Finally, Nykredit A S purchased a new position in Madison Square Garden during the 2nd quarter worth approximately $339,000. Institutional investors and hedge funds own 68.94% of the company's stock.
Analysts Set New Price Targets
MSGS has been the subject of several analyst reports. Susquehanna boosted their price target on shares of Madison Square Garden from $430.00 to $477.00 and gave the stock a "positive" rating in a report on Friday, August 14th. JPMorgan Chase & Co. boosted their target price on Madison Square Garden from $450.00 to $485.00 and gave the company an "overweight" rating in a research note on Friday, August 14th. Seaport Research Partners increased their target price on Madison Square Garden from $430.00 to $435.00 and gave the company a "buy" rating in a research note on Wednesday, May 27th. Zacks Research upgraded Madison Square Garden from a "strong sell" rating to a "hold" rating in a research report on Friday, August 14th. Finally, Weiss Ratings raised shares of Madison Square Garden from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 14th. Four 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 a consensus target price of $471.20.
Check Out Our Latest Research Report on MSGS
Madison Square Garden Price Performance
MSGS stock traded down $1.68 on Tuesday, reaching $394.62. The company's stock had a trading volume of 136,162 shares, compared to its average volume of 242,588. The Madison Square Garden Company has a 52 week low of $207.90 and a 52 week high of $438.93. The company has a market capitalization of $9.50 billion, a P/E ratio of 1,315.08 and a beta of 0.60. The firm has a fifty day moving average of $395.08 and a two-hundred day moving average of $363.07.
Madison Square Garden (NYSE:MSGS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.52. Madison Square Garden had a net margin of 0.67% and a negative return on equity of 3.47%. The firm had revenue of $278.75 million during the quarter, compared to analysts' expectations of $227.67 million. During the same quarter last year, the company earned ($0.07) earnings per share. The company's revenue for the quarter was up 36.6% compared to the same quarter last year. As a group, equities analysts expect that The Madison Square Garden Company will post -0.8 EPS for the current fiscal year.
About Madison Square Garden
(
Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Madison Square Garden, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Madison Square Garden wasn't on the list.
While Madison Square Garden currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
Get This Free Report
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Like this article? Share it with a colleague.
Link copied to clipboard.
