The Madison Square Garden Company (NYSE:MSGS) Receives Consensus Recommendation of “Hold” from Analysts

The Madison Square Garden Company (NYSE:MSGS) has been assigned a consensus rating of “Hold” from the nine research firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $286.00.

Several analysts recently issued reports on MSGS shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Madison Square Garden in a research note on Monday, December 29th. Guggenheim restated a “buy” rating on shares of Madison Square Garden in a report on Thursday, February 5th. Citigroup upped their price target on Madison Square Garden from $290.00 to $337.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Wall Street Zen raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, JPMorgan Chase & Co. boosted their price objective on Madison Square Garden from $240.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th.

Madison Square Garden Stock Performance

Shares of MSGS stock opened at $307.37 on Monday. Madison Square Garden has a fifty-two week low of $173.26 and a fifty-two week high of $345.46. The stock’s fifty day moving average is $300.16 and its two-hundred day moving average is $253.10. The firm has a market capitalization of $7.40 billion, a P/E ratio of -445.46 and a beta of 0.56.

Madison Square Garden (NYSE:MSGS) last issued its earnings results on Thursday, February 5th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). The firm had revenue of $403.42 million for the quarter, compared to analyst estimates of $394.58 million. The firm’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the business earned $0.05 EPS. On average, equities analysts forecast that Madison Square Garden will post 0.73 earnings per share for the current year.

Insider Activity at Madison Square Garden

In other news, Director Charles P. Dolan sold 5,659 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $325.26, for a total transaction of $1,840,646.34. Following the transaction, the director owned 435 shares of the company’s stock, valued at approximately $141,488.10. The trade was a 92.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 19.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Madison Square Garden

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC purchased a new stake in shares of Madison Square Garden in the 4th quarter valued at approximately $5,596,000. Rockefeller Capital Management L.P. raised its position in shares of Madison Square Garden by 0.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 41,206 shares of the company’s stock valued at $10,658,000 after buying an additional 212 shares during the period. Corient Private Wealth LLC raised its position in shares of Madison Square Garden by 255.1% during the 4th quarter. Corient Private Wealth LLC now owns 3,565 shares of the company’s stock valued at $922,000 after buying an additional 2,561 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in Madison Square Garden by 67.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 122 shares of the company’s stock valued at $32,000 after acquiring an additional 49 shares during the last quarter. Finally, DGS Capital Management LLC acquired a new position in Madison Square Garden in the fourth quarter valued at approximately $205,000. 68.94% of the stock is currently owned by institutional investors and hedge funds.

About Madison Square Garden

Madison Square Garden Sports Corp (NYSE: MSGS) is a leading sports and entertainment holding company focused on professional sports franchises and related media assets. The company owns and operates teams such as the NBA’s New York Knicks, the NHL’s New York Rangers and the WNBA’s New York Liberty. Through these flagship franchises, MSG Sports offers a range of products and services including ticketing, premium seating and sponsorship opportunities, targeting fans in the New York metropolitan area and beyond.

In addition to team operations, Madison Square Garden Sports Corp holds a majority stake in MSG Networks, a regional cable network that broadcasts live sporting events, news and original programming.