State of New Jersey Common Pension Fund D Has $2.07 Million Position in The Madison Square Garden Company $MSGS

State of New Jersey Common Pension Fund D boosted its stake in shares of The Madison Square Garden Company (NYSE:MSGS) by 3.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,900 shares of the company’s stock after acquiring an additional 354 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Madison Square Garden were worth $2,069,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp raised its stake in Madison Square Garden by 59.5% during the second quarter. Fifth Third Bancorp now owns 185 shares of the company’s stock worth $39,000 after acquiring an additional 69 shares in the last quarter. Covestor Ltd raised its stake in Madison Square Garden by 35.5% during the first quarter. Covestor Ltd now owns 416 shares of the company’s stock worth $81,000 after acquiring an additional 109 shares in the last quarter. CWM LLC raised its stake in Madison Square Garden by 407.7% during the second quarter. CWM LLC now owns 528 shares of the company’s stock worth $110,000 after acquiring an additional 424 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Madison Square Garden during the second quarter worth $111,000. Finally, GAMMA Investing LLC raised its stake in Madison Square Garden by 24.8% during the second quarter. GAMMA Investing LLC now owns 880 shares of the company’s stock worth $184,000 after acquiring an additional 175 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Stock Down 1.0%

Madison Square Garden stock opened at $224.90 on Thursday. The business’s 50-day simple moving average is $214.74 and its 200 day simple moving average is $203.24. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of -244.46 and a beta of 0.78. The Madison Square Garden Company has a 12-month low of $173.26 and a 12-month high of $237.99.

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. The business had revenue of $203.96 million for the quarter, compared to analysts’ expectations of $151.00 million. Madison Square Garden had a negative return on equity of 1.76% and a negative net margin of 2.16%.The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.06 earnings per share. As a group, sell-side analysts expect that The Madison Square Garden Company will post 0.73 EPS for the current year.

Wall Street Analysts Forecast Growth

MSGS has been the subject of several recent analyst reports. BTIG Research initiated coverage on Madison Square Garden in a research note on Tuesday, October 7th. They set a “neutral” rating for the company. Zacks Research upgraded Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Morgan Stanley increased their target price on Madison Square Garden from $215.00 to $220.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 13th. Citigroup initiated coverage on Madison Square Garden in a report on Tuesday, September 9th. They set a “buy” rating and a $285.00 target price on the stock. Finally, Weiss Ratings upgraded Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a report on Saturday, October 25th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Madison Square Garden presently has a consensus rating of “Moderate Buy” and a consensus price target of $258.83.

Madison Square Garden Company 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.