The Madison Square Garden (NYSE:MSG) was downgraded by analysts at Morgan Stanley to an “equal weight” rating in a note issued to investors on Tuesday, The Fly reports.

Other equities analysts have also issued reports about the stock. ValuEngine lowered shares of The Madison Square Garden from a “hold” rating to a “sell” rating in a report on Friday. Jefferies Group increased their target price on shares of The Madison Square Garden from $185.00 to $200.00 and gave the stock a “hold” rating in a report on Friday, August 18th. Loop Capital increased their target price on shares of The Madison Square Garden from $266.00 to $268.00 and gave the stock a “buy” rating in a report on Monday, November 6th. BTIG Research set a $260.00 target price on shares of The Madison Square Garden and gave the stock a “buy” rating in a report on Monday, September 11th. Finally, Zacks Investment Research lowered shares of The Madison Square Garden from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $217.78.

The Madison Square Garden (NYSE MSG) opened at $218.50 on Tuesday. The Madison Square Garden has a twelve month low of $166.86 and a twelve month high of $231.44. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.04.

The Madison Square Garden (NYSE:MSG) last announced its quarterly earnings data on Friday, November 3rd. The company reported ($0.47) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.65) by $0.18. The Madison Square Garden had a negative net margin of 4.00% and a negative return on equity of 1.75%. The business had revenue of $245.04 million for the quarter, compared to analyst estimates of $237.06 million. During the same period in the prior year, the business posted ($1.19) earnings per share. The Madison Square Garden’s revenue was up 34.9% compared to the same quarter last year. analysts expect that The Madison Square Garden will post 0.66 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Ladenburg Thalmann Financial Services Inc. raised its holdings in The Madison Square Garden by 78.9% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 592 shares of the company’s stock worth $127,000 after purchasing an additional 261 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in The Madison Square Garden by 8.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 712 shares of the company’s stock worth $140,000 after purchasing an additional 58 shares during the period. The Manufacturers Life Insurance Company raised its holdings in The Madison Square Garden by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 751 shares of the company’s stock worth $148,000 after purchasing an additional 40 shares during the period. Maverick Capital Ltd. acquired a new stake in The Madison Square Garden in the second quarter worth $176,000. Finally, Investment House LLC acquired a new stake in shares of The Madison Square Garden during the third quarter worth $203,000. Institutional investors own 71.28% of the company’s stock.

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About The Madison Square Garden

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.

The Fly

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

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