Principal Financial Group Inc. Purchases 1,755 Shares of The Madison Square Garden Company $MSGS

Principal Financial Group Inc. raised its holdings in shares of The Madison Square Garden Company (NYSE:MSGS) by 2.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 87,058 shares of the company’s stock after acquiring an additional 1,755 shares during the quarter. Principal Financial Group Inc. owned approximately 0.36% of Madison Square Garden worth $27,980,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in MSGS. Aster Capital Management DIFC Ltd bought a new position in Madison Square Garden in the fourth quarter valued at $26,000. Caitong International Asset Management Co. Ltd lifted its position in Madison Square Garden by 67.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 122 shares of the company’s stock worth $32,000 after buying an additional 49 shares in the last quarter. SJS Investment Consulting Inc. boosted its stake in shares of Madison Square Garden by 488.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 100 shares of the company’s stock worth $32,000 after buying an additional 83 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Madison Square Garden by 1,150.0% in the 4th quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock valued at $32,000 after acquiring an additional 115 shares in the last quarter. Finally, Salomon & Ludwin LLC grew its holdings in shares of Madison Square Garden by 33.1% in the 4th quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock valued at $40,000 after acquiring an additional 39 shares in the last quarter. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Stock Performance

MSGS opened at $396.04 on Monday. The Madison Square Garden Company has a 52-week low of $188.60 and a 52-week high of $411.73. The firm has a market cap of $9.54 billion, a P/E ratio of -425.84 and a beta of 0.61. The business’s fifty day moving average is $375.44 and its 200-day moving average is $330.44.

Madison Square Garden (NYSE:MSGS) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($1.39). The company had revenue of $432.20 million during the quarter, compared to analyst estimates of $429.66 million. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.59) earnings per share. On average, research analysts predict that The Madison Square Garden Company will post -0.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MSGS has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Madison Square Garden in a report on Wednesday, June 24th. Susquehanna raised their price objective on Madison Square Garden from $429.00 to $430.00 and gave the company a “positive” rating in a research report on Tuesday, June 23rd. Zacks Research downgraded Madison Square Garden from a “hold” rating to a “strong sell” rating in a research note on Thursday. Seaport Research Partners boosted their target price on Madison Square Garden from $430.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, Citigroup increased their price target on Madison Square Garden from $355.00 to $360.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Madison Square Garden currently has an average rating of “Hold” and a consensus price target of $403.00.

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.