State Board of Administration of Florida Retirement System cut its position in shares of The Madison Square Garden Company (NYSE:MSG) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 24,476 shares of the company’s stock after selling 800 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.13% of The Madison Square Garden worth $4,819,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of The Madison Square Garden by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 1,441,299 shares of the company’s stock valued at $287,842,000 after purchasing an additional 51,261 shares during the period. BlackRock Inc. grew its holdings in shares of The Madison Square Garden by 13,915.4% in the 1st quarter. BlackRock Inc. now owns 767,202 shares of the company’s stock worth $153,216,000 after acquiring an additional 761,728 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of The Madison Square Garden by 10.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 481,679 shares of the company’s stock worth $96,196,000 after acquiring an additional 46,665 shares during the last quarter. FMR LLC grew its holdings in shares of The Madison Square Garden by 36.5% in the 1st quarter. FMR LLC now owns 320,377 shares of the company’s stock worth $63,982,000 after acquiring an additional 85,628 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of The Madison Square Garden by 2.0% in the 1st quarter. State Street Corp now owns 246,540 shares of the company’s stock worth $49,243,000 after acquiring an additional 4,931 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

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MSG has been the topic of a number of recent research reports. Jefferies Group LLC restated a “hold” rating and issued a $185.00 target price on shares of The Madison Square Garden in a report on Monday, May 15th. Citigroup Inc. decreased their target price on The Madison Square Garden from $102.00 to $93.00 and set a “buy” rating on the stock in a report on Monday, May 15th. ValuEngine upgraded The Madison Square Garden from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research cut The Madison Square Garden from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Finally, BTIG Research restated a “buy” rating and issued a $260.00 target price (up from $240.00) on shares of The Madison Square Garden in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. The Madison Square Garden has an average rating of “Hold” and a consensus price target of $204.67.

The Madison Square Garden Company (NYSE MSG) opened at 225.80 on Thursday. The stock’s 50 day moving average price is $214.96 and its 200-day moving average price is $201.10. The Madison Square Garden Company has a one year low of $160.96 and a one year high of $226.69. The stock’s market cap is $5.32 billion.

The Madison Square Garden (NYSE:MSG) last released its earnings results on Thursday, August 17th. The company reported ($3.58) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.10) by $2.48. The company had revenue of $305.60 million during the quarter, compared to analysts’ expectations of $279.19 million. The Madison Square Garden had a negative net margin of 5.52% and a negative return on equity of 2.43%. The firm’s revenue was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.39) earnings per share. On average, analysts predict that The Madison Square Garden Company will post $0.71 earnings per share for the current year.

The Madison Square Garden Company Profile

The Madison Square Garden Company is a holding company, which is engaged in live experiences consisting of celebrated venues, sports teams, and entertainment productions. The Company operates in two segments, which include MSG Entertainment and MSG Sports. The MSG Sports segment includes the Company’s professional sports franchises, which include the New York Knicks (the Knicks) of the National Basketball Association (the NBA), the New York Rangers (the Rangers) of the National Hockey League (the NHL), the New York Liberty (the Liberty) of the Women’s National Basketball Association (the WNBA), the Hartford Wolf Pack of the American Hockey League (the AHL), which is the primary player development team for the Rangers, and the Westchester Knicks, an NBA Development League team.

Institutional Ownership by Quarter for The Madison Square Garden (NYSE:MSG)

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