The Madison Square Garden Company (NYSE:MSG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “The Madison Square Garden Company is involved in the sports, entertainment and media industries. The company’s business segment consists of MSG Sports, MSG Media and MSG Entertainment. MSG Sports is involved in live sporting events. MSG Sports owns and operates sports franchises include the New York Knicks, the New York Rangers, the New York Liberty, the Westchester Knicks and the Hartford Wolf Pack. MSG Media is involved in production and content development for multiple distribution platforms. MSG Entertainment creates, produces and presents live productions, hosts live entertainment events. The Madison Square Garden Company is based in New York, United States. “

A number of other equities research analysts have also recently commented on the company. ValuEngine raised The Madison Square Garden Company from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Citigroup Inc. decreased their price objective on The Madison Square Garden Company from $102.00 to $93.00 and set a “buy” rating for the company in a research note on Monday, May 15th. Jefferies Group LLC reaffirmed a “hold” rating and set a $185.00 price objective on shares of The Madison Square Garden Company in a research note on Monday, May 15th. Bank of America Corporation assumed coverage on The Madison Square Garden Company in a research note on Tuesday, May 2nd. They set a “buy” rating and a $243.00 price objective for the company. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $245.00 price objective on shares of The Madison Square Garden Company in a research note on Thursday, April 20th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The Madison Square Garden Company presently has a consensus rating of “Hold” and a consensus price target of $196.40.

The Madison Square Garden Company (NYSE MSG) traded up 1.01% during trading on Wednesday, hitting $194.78. The company had a trading volume of 63,522 shares. The Madison Square Garden Company has a 12-month low of $160.96 and a 12-month high of $206.60. The company’s market capitalization is $4.59 billion. The firm has a 50-day moving average of $196.91 and a 200 day moving average of $188.74.

The Madison Square Garden Company (NYSE:MSG) last announced its quarterly earnings data on Thursday, May 4th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by $0.33. The Madison Square Garden Company had a negative return on equity of 1.57% and a negative net margin of 3.81%. The company had revenue of $386 million for the quarter, compared to analyst estimates of $365.57 million. During the same period last year, the firm earned ($2.47) earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities research analysts forecast that The Madison Square Garden Company will post ($0.55) earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of MSG. Renaissance Technologies LLC boosted its position in The Madison Square Garden Company by 60.3% in the fourth quarter. Renaissance Technologies LLC now owns 45,698 shares of the company’s stock worth $7,838,000 after buying an additional 17,198 shares during the last quarter. State of Alaska Department of Revenue boosted its position in The Madison Square Garden Company by 4.6% in the first quarter. State of Alaska Department of Revenue now owns 2,306 shares of the company’s stock worth $460,000 after buying an additional 102 shares during the last quarter. Bank of Montreal Can boosted its position in The Madison Square Garden Company by 5.5% in the first quarter. Bank of Montreal Can now owns 20,258 shares of the company’s stock worth $4,045,000 after buying an additional 1,050 shares during the last quarter. AlphaOne Investment Services LLC acquired a new position in The Madison Square Garden Company during the first quarter worth about $939,000. Finally, Waratah Capital Advisors Ltd. acquired a new position in The Madison Square Garden Company during the first quarter worth about $255,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

About The Madison Square Garden Company

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.

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Analyst Recommendations for The Madison Square Garden Company (NYSE:MSG)

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