Madison Square Garden Co (MSG) Holdings Increased by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado raised its position in Madison Square Garden Co (NYSE:MSG) by 1,010.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,901 shares of the company’s stock after acquiring an additional 38,127 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Madison Square Garden were worth $13,212,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MSG. Strs Ohio acquired a new stake in shares of Madison Square Garden during the 2nd quarter worth about $692,000. Partner Investment Management L.P. acquired a new stake in shares of Madison Square Garden during the 2nd quarter worth about $1,288,000. NumerixS Investment Technologies Inc lifted its stake in shares of Madison Square Garden by 106.7% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,100 shares of the company’s stock worth $940,000 after buying an additional 1,600 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Madison Square Garden by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 67,112 shares of the company’s stock worth $20,818,000 after buying an additional 1,213 shares during the last quarter. Finally, Brown Advisory Inc. lifted its stake in shares of Madison Square Garden by 6.7% during the 2nd quarter. Brown Advisory Inc. now owns 3,446 shares of the company’s stock worth $1,069,000 after buying an additional 215 shares during the last quarter. Hedge funds and other institutional investors own 70.39% of the company’s stock.

Shares of Madison Square Garden stock opened at $271.15 on Tuesday. Madison Square Garden Co has a twelve month low of $205.22 and a twelve month high of $330.00. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of 45.65, a price-to-earnings-growth ratio of 14.85 and a beta of 0.36.

Madison Square Garden (NYSE:MSG) last released its earnings results on Thursday, August 16th. The company reported ($1.94) EPS for the quarter, beating the consensus estimate of ($2.00) by $0.06. Madison Square Garden had a net margin of 9.08% and a return on equity of 1.10%. The firm had revenue of $318.00 million for the quarter, compared to analyst estimates of $293.32 million. During the same period last year, the firm earned ($3.58) EPS. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, equities research analysts expect that Madison Square Garden Co will post 0.71 EPS for the current fiscal year.

A number of research firms have recently issued reports on MSG. Macquarie set a $356.00 target price on shares of Madison Square Garden and gave the stock a “buy” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Madison Square Garden from a “hold” rating to a “buy” rating and set a $316.00 price objective for the company in a research note on Wednesday, October 24th. Imperial Capital assumed coverage on shares of Madison Square Garden in a research note on Tuesday, August 21st. They issued an “outperform” rating and a $372.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Madison Square Garden from $260.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 1st. Finally, Guggenheim lifted their price objective on shares of Madison Square Garden to $350.00 and gave the stock a “buy” rating in a research note on Thursday, August 23rd. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $332.43.

About Madison Square Garden

The Madison Square Garden Company, together with its subsidiaries, engages in live sports and entertainment businesses in the United States. The company operates in two segments, MSG Sports and MSG Entertainment. The MSG Sports segment owns and operates professional sports franchises; and promotes, produces, and/or presents an array of other live sporting events, including professional boxing, college basketball, college hockey, professional bull riding, mixed martial arts, esports, tennis, and college wrestling.

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Institutional Ownership by Quarter for Madison Square Garden (NYSE:MSG)

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