Louisiana State Employees Retirement System Makes New Investment in The Madison Square Garden Company $MSGS

Louisiana State Employees Retirement System bought a new position in The Madison Square Garden Company (NYSE:MSGS) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,000 shares of the company’s stock, valued at approximately $2,571,000.

Other large investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in Madison Square Garden by 67.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 699,378 shares of the company’s stock worth $180,895,000 after purchasing an additional 282,318 shares in the last quarter. Reinhart Partners LLC. acquired a new stake in Madison Square Garden during the fourth quarter valued at approximately $55,586,000. Norges Bank bought a new position in Madison Square Garden during the 4th quarter worth approximately $51,107,000. TOMS Capital Investment Management LP lifted its holdings in Madison Square Garden by 82.7% during the 4th quarter. TOMS Capital Investment Management LP now owns 329,705 shares of the company’s stock worth $85,278,000 after buying an additional 149,205 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Madison Square Garden by 182.0% in the 4th quarter. Millennium Management LLC now owns 131,123 shares of the company’s stock worth $33,915,000 after acquiring an additional 84,628 shares in the last quarter. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Stock Up 2.5%

Shares of NYSE:MSGS opened at $402.84 on Tuesday. The company’s 50-day moving average price is $359.58 and its 200 day moving average price is $316.14. The company has a market cap of $9.70 billion, a PE ratio of -433.16 and a beta of 0.61. The Madison Square Garden Company has a fifty-two week low of $188.60 and a fifty-two week high of $403.11.

Madison Square Garden (NYSE:MSGS) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.83) EPS for the quarter, missing the consensus estimate of $0.56 by ($1.39). The business had revenue of $432.20 million for the quarter, compared to the consensus estimate of $429.66 million. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.59) EPS. As a group, equities analysts anticipate that The Madison Square Garden Company will post -0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MSGS shares. Wall Street Zen downgraded Madison Square Garden from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Seaport Research Partners raised their price objective on Madison Square Garden from $430.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Susquehanna lifted their price objective on shares of Madison Square Garden from $429.00 to $430.00 and gave the stock a “positive” rating in a report on Tuesday, June 23rd. Guggenheim boosted their target price on shares of Madison Square Garden from $422.00 to $470.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Finally, Citigroup increased their target price 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. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $357.00.

Madison Square Garden Company Profile

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.