California Public Employees Retirement System Raises Position in The Madison Square Garden Company (MSG)

California Public Employees Retirement System increased its stake in shares of The Madison Square Garden Company (NYSE:MSG) by 6.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,971 shares of the company’s stock after acquiring an additional 2,805 shares during the quarter. California Public Employees Retirement System owned about 0.19% of The Madison Square Garden worth $9,414,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. increased its holdings in The Madison Square Garden by 1.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 64,782 shares of the company’s stock valued at $12,756,000 after buying an additional 1,189 shares during the period. Legal & General Group Plc increased its holdings in The Madison Square Garden by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 6,826 shares of the company’s stock valued at $1,344,000 after buying an additional 245 shares during the period. Marshall Wace North America L.P. bought a new stake in The Madison Square Garden in the 2nd quarter valued at $1,359,000. Virginia Retirement Systems ET AL bought a new stake in The Madison Square Garden in the 2nd quarter valued at $1,359,000. Finally, American Century Companies Inc. increased its holdings in The Madison Square Garden by 8.4% in the 2nd quarter. American Century Companies Inc. now owns 13,535 shares of the company’s stock valued at $2,665,000 after buying an additional 1,046 shares during the period. 71.26% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have issued reports on MSG. Zacks Investment Research lowered shares of The Madison Square Garden from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Morgan Stanley lowered shares of The Madison Square Garden from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $218.50 to $245.00 in a report on Tuesday, December 5th. ValuEngine downgraded shares of The Madison Square Garden from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Loop Capital boosted their target price on shares of The Madison Square Garden from $266.00 to $268.00 and gave the company a “buy” rating in a research note on Monday, November 6th. Finally, Jefferies Group restated a “hold” rating and issued a $200.00 target price on shares of The Madison Square Garden in a research note on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $219.00.

Shares of The Madison Square Garden Company (NYSE MSG) opened at $212.99 on Friday. The Madison Square Garden Company has a 52 week low of $166.86 and a 52 week high of $231.44. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.04. The company has a market cap of $5,020.00 and a price-to-earnings ratio of -89.12.

The Madison Square Garden (NYSE:MSG) last issued its earnings results on Friday, November 3rd. The company reported ($0.47) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.65) by $0.18. The company had revenue of $245.04 million for the quarter, compared to the consensus estimate of $237.06 million. The Madison Square Garden had a negative net margin of 4.00% and a negative return on equity of 1.75%. The firm’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.19) EPS. sell-side analysts expect that The Madison Square Garden Company will post 0.66 earnings per share for the current fiscal year.

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The Madison Square Garden 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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