Louisiana State Employees Retirement System Sells 100 Shares of The Madison Square Garden Company $MSGS

Louisiana State Employees Retirement System decreased its position in shares of The Madison Square Garden Company (NYSE:MSGS) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,800 shares of the company’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Madison Square Garden were worth $1,630,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS raised its holdings in Madison Square Garden by 15.6% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 3,700 shares of the company’s stock worth $773,000 after purchasing an additional 500 shares during the last quarter. Boyar Asset Management Inc. raised its holdings in Madison Square Garden by 1.9% during the 2nd quarter. Boyar Asset Management Inc. now owns 20,639 shares of the company’s stock worth $4,313,000 after purchasing an additional 383 shares during the last quarter. Truist Financial Corp raised its holdings in Madison Square Garden by 6.3% during the 2nd quarter. Truist Financial Corp now owns 2,286 shares of the company’s stock worth $478,000 after purchasing an additional 135 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Madison Square Garden by 5.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 13,229 shares of the company’s stock worth $2,763,000 after purchasing an additional 691 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in Madison Square Garden by 59.5% during the 2nd quarter. Fifth Third Bancorp now owns 185 shares of the company’s stock worth $39,000 after purchasing an additional 69 shares during the last quarter. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Trading Down 1.6%

NYSE MSGS opened at $215.09 on Monday. The company has a fifty day simple moving average of $208.29 and a 200 day simple moving average of $200.00. The Madison Square Garden Company has a 12-month low of $173.26 and a 12-month high of $237.99. The company has a market cap of $5.16 billion, a P/E ratio of -233.79 and a beta of 0.78.

Madison Square Garden (NYSE:MSGS) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.35. Madison Square Garden had a negative net margin of 2.16% and a negative return on equity of 1.76%. The business had revenue of $203.96 million during the quarter, compared to the consensus estimate of $151.00 million. During the same quarter last year, the firm posted $1.06 EPS. Madison Square Garden’s revenue was down 10.3% compared to the same quarter last year. Sell-side analysts predict that The Madison Square Garden Company will post 0.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MSGS shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Madison Square Garden in a research note on Wednesday, October 8th. Morgan Stanley lifted their price objective on shares of Madison Square Garden from $215.00 to $220.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 13th. Citigroup started coverage on shares of Madison Square Garden in a research note on Tuesday, September 9th. They issued a “buy” rating and a $285.00 price objective for the company. Finally, BTIG Research started coverage on shares of Madison Square Garden in a research note on Tuesday, October 7th. They issued a “neutral” rating for the company. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Madison Square Garden has an average rating of “Moderate Buy” and an average price target of $258.83.

Madison Square Garden 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.