The Madison Square Garden Company (NYSE:MSGS) Shares Acquired by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its position in Madison Square Garden Company (NYSE:MSGS) by 27.4% during the first quarter, now owning 53,078 shares valued at approximately $10.3 million.
• Multiple institutional investors have significantly raised their stakes in Madison Square Garden, with T. Rowe Price Investment Management raising its stake by 1,854% during the fourth quarter.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Madison Square Garden, with a price target averaging $253.60, reflecting positive growth expectations for the company.

Public Sector Pension Investment Board boosted its position in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) by 27.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,078 shares of the company's stock after purchasing an additional 11,403 shares during the quarter. Public Sector Pension Investment Board owned about 0.22% of Madison Square Garden worth $10,335,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in MSGS. Putney Financial Group LLC acquired a new stake in shares of Madison Square Garden in the 4th quarter worth $28,000. Heck Capital Advisors LLC acquired a new stake in Madison Square Garden during the 4th quarter worth about $43,000. Kapitalo Investimentos Ltda acquired a new stake in Madison Square Garden during the 4th quarter worth about $92,000. Covestor Ltd lifted its position in Madison Square Garden by 35.5% during the 1st quarter. Covestor Ltd now owns 416 shares of the company's stock worth $81,000 after acquiring an additional 109 shares during the period. Finally, Obermeyer Wealth Partners acquired a new stake in Madison Square Garden during the 4th quarter worth about $202,000. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

Madison Square Garden Stock Up 3.2%

NYSE:MSGS traded up $6.11 during trading hours on Friday, reaching $198.76. 367,206 shares of the stock were exchanged, compared to its average volume of 192,128. The business has a 50-day moving average of $201.44 and a two-hundred day moving average of $197.72. The Madison Square Garden Company has a twelve month low of $173.26 and a twelve month high of $237.99. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of -216.04 and a beta of 0.79.

Madison Square Garden (NYSE:MSGS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.07) earnings per share for the quarter, topping 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 in the prior year, the company earned $1.06 earnings per share. The company's revenue was down 10.3% on a year-over-year basis. On average, research analysts forecast that The Madison Square Garden Company will post 0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MSGS shares. Morgan Stanley lifted their price objective on Madison Square Garden from $215.00 to $220.00 and gave the company an "equal weight" rating in a research note on Wednesday. Susquehanna initiated coverage on Madison Square Garden in a research note on Monday, April 28th. They issued a "positive" rating and a $254.00 price target for the company. Guggenheim restated a "buy" rating and issued a $314.00 price target on shares of Madison Square Garden in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. cut their price target on Madison Square Garden from $240.00 to $230.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $253.60.

Madison Square Garden Company Profile

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.