Teacher Retirement System of Texas Trims Stake in The Madison Square Garden Company (NYSE:MSGS)

Teacher Retirement System of Texas reduced its holdings in shares of The Madison Square Garden Company (NYSE:MSGS - Free Report) by 37.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 8,901 shares of the company's stock after selling 5,442 shares during the period. Teacher Retirement System of Texas' holdings in Madison Square Garden were worth $1,733,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. raised its position in shares of Madison Square Garden by 1,854.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 498,607 shares of the company's stock worth $112,526,000 after acquiring an additional 473,090 shares in the last quarter. Norges Bank purchased a new stake in Madison Square Garden during the 4th quarter valued at about $54,052,000. GAMMA Investing LLC lifted its holdings in shares of Madison Square Garden by 14,886.7% in the 1st quarter. GAMMA Investing LLC now owns 137,278 shares of the company's stock valued at $26,731,000 after buying an additional 136,362 shares during the period. Balyasny Asset Management L.P. lifted its holdings in shares of Madison Square Garden by 89.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 127,556 shares of the company's stock valued at $28,787,000 after buying an additional 60,112 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of Madison Square Garden by 377.1% in the 4th quarter. First Trust Advisors LP now owns 57,879 shares of the company's stock valued at $13,062,000 after buying an additional 45,748 shares during the period. 68.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Susquehanna assumed coverage on Madison Square Garden in a report on Monday, April 28th. They issued a "positive" rating and a $254.00 price target for the company. Morgan Stanley reduced their price target on Madison Square Garden from $235.00 to $215.00 and set an "equal weight" rating for the company in a report on Monday, May 5th. Guggenheim reaffirmed a "buy" rating and issued a $314.00 price target on shares of Madison Square Garden in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. reduced their price target on Madison Square Garden from $240.00 to $230.00 and set an "overweight" rating for the company in a report on Monday, May 5th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $252.60.

Madison Square Garden Stock Up 1.9%

Shares of Madison Square Garden stock traded up $3.85 during mid-day trading on Monday, reaching $209.73. 41,377 shares of the stock traded hands, compared to its average volume of 123,953. The business has a 50-day moving average of $196.15 and a 200 day moving average of $200.43. The stock has a market capitalization of $5.04 billion, a PE ratio of 998.87 and a beta of 0.79. The Madison Square Garden Company has a fifty-two week low of $173.26 and a fifty-two week high of $237.99.

Madison Square Garden (NYSE:MSGS - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The company reported ($0.59) earnings per share for the quarter, missing analysts' consensus estimates of $1.48 by ($2.07). The firm had revenue of $424.20 million during the quarter, compared to analyst estimates of $436.84 million. Madison Square Garden had a net margin of 0.45% and a negative return on equity of 1.76%. The company's quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.57 earnings per share. On average, equities research analysts expect that The Madison Square Garden Company will post 0.73 EPS for the current fiscal year.

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.