The Madison Square Garden Company $MSGS Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its holdings in The Madison Square Garden Company (NYSE:MSGS) by 8.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,151 shares of the company’s stock after selling 750 shares during the quarter. Teacher Retirement System of Texas’ holdings in Madison Square Garden were worth $1,703,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its holdings in Madison Square Garden by 59.5% in the second quarter. Fifth Third Bancorp now owns 185 shares of the company’s stock valued at $39,000 after purchasing an additional 69 shares in the last quarter. Covestor Ltd boosted its holdings in Madison Square Garden by 35.5% in the first quarter. Covestor Ltd now owns 416 shares of the company’s stock valued at $81,000 after purchasing an additional 109 shares in the last quarter. CWM LLC boosted its holdings in Madison Square Garden by 407.7% in the second quarter. CWM LLC now owns 528 shares of the company’s stock valued at $110,000 after purchasing an additional 424 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Madison Square Garden in the second quarter valued at approximately $111,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Madison Square Garden by 24.8% in the second quarter. GAMMA Investing LLC now owns 880 shares of the company’s stock valued at $184,000 after acquiring an additional 175 shares during the period. 68.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MSGS shares. JPMorgan Chase & Co. increased their price objective on Madison Square Garden from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Monday. Wolfe Research reissued an “outperform” rating on shares of Madison Square Garden in a report on Monday. Zacks Research raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Weiss Ratings raised Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a report on Saturday, October 25th. Finally, BTIG Research initiated coverage on Madison Square Garden in a research report on Tuesday, October 7th. They set a “neutral” rating for the company. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $260.50.

Madison Square Garden Price Performance

Shares of NYSE MSGS opened at $220.04 on Wednesday. The stock has a fifty day moving average price of $216.46 and a 200 day moving average price of $204.13. The Madison Square Garden Company has a 1-year low of $173.26 and a 1-year high of $237.99. The company has a market cap of $5.29 billion, a PE ratio of -224.53 and a beta of 0.77.

Madison Square Garden (NYSE:MSGS) last issued its quarterly earnings results on Friday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($1.04) by $0.67. Madison Square Garden had a negative return on equity of 1.76% and a negative net margin of 2.31%.The firm had revenue of $39.45 million during the quarter, compared to the consensus estimate of $41.41 million. During the same period last year, the company earned ($0.31) earnings per share. The company’s revenue for the quarter was down 26.0% on a year-over-year basis. Analysts anticipate that The Madison Square Garden Company will post 0.73 earnings per share for the current fiscal year.

About Madison Square Garden

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.