Louisiana State Employees Retirement System Invests $2.57 Million in The Madison Square Garden Company $MSGS

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

Other institutional investors have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new stake in Madison Square Garden in the 4th quarter valued at $26,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Madison Square Garden by 67.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 122 shares of the company’s stock worth $32,000 after purchasing an additional 49 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of Madison Square Garden by 1,150.0% in the fourth quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock worth $32,000 after buying an additional 115 shares during the period. Salomon & Ludwin LLC boosted its position in shares of Madison Square Garden by 33.1% in the fourth quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock worth $40,000 after buying an additional 39 shares during the period. Finally, Sound Income Strategies LLC acquired a new stake in shares of Madison Square Garden in the fourth quarter valued at about $45,000. 68.94% of the stock is owned by hedge funds and other institutional investors.

Madison Square Garden Stock Performance

NYSE:MSGS opened at $402.84 on Tuesday. The stock has a market cap of $9.70 billion, a price-to-earnings ratio of -433.16 and a beta of 0.61. The Madison Square Garden Company has a one year low of $188.60 and a one year high of $403.11. The business’s 50-day simple moving average is $359.58 and its 200 day simple moving average is $316.14.

Madison Square Garden (NYSE:MSGS) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($1.39). The business had revenue of $432.20 million during the quarter, compared to analysts’ expectations of $429.66 million. During the same period in the previous year, the business posted ($0.59) EPS. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts predict that The Madison Square Garden Company will post -0.5 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on MSGS. Wall Street Zen lowered Madison Square Garden from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Guggenheim increased their price objective on shares of Madison Square Garden from $422.00 to $470.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Citigroup lifted their price objective on shares of Madison Square Garden from $355.00 to $360.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Madison Square Garden in a research report on Wednesday, June 24th. Finally, Susquehanna upped their target price on shares of Madison Square Garden from $429.00 to $430.00 and gave the company a “positive” rating in a research note on Tuesday, June 23rd. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Madison Square Garden presently has a consensus rating of “Hold” and an average price target 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.