The Madison Square Garden Company (NYSE:MSGS) Given Consensus Recommendation of “Hold” by Brokerages

Shares of The Madison Square Garden Company (NYSE:MSGS) have been assigned an average recommendation of “Hold” from the nine research firms that are currently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $357.00.

A number of research firms recently commented on MSGS. Susquehanna upped their price objective on Madison Square Garden from $429.00 to $430.00 and gave the company a “positive” rating in a report on Tuesday, June 23rd. Wall Street Zen cut Madison Square Garden from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Madison Square Garden in a report on Wednesday, June 24th. Guggenheim upped their price objective on Madison Square Garden from $422.00 to $470.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Finally, Seaport Research Partners upped their price objective on Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, May 27th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MSGS. Aster Capital Management DIFC Ltd acquired a new position in Madison Square Garden during the fourth quarter worth $26,000. Caitong International Asset Management Co. Ltd lifted its stake in Madison Square Garden by 67.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 122 shares of the company’s stock worth $32,000 after purchasing an additional 49 shares in the last quarter. SJS Investment Consulting Inc. lifted its stake in Madison Square Garden by 488.2% during the first quarter. SJS Investment Consulting Inc. now owns 100 shares of the company’s stock worth $32,000 after purchasing an additional 83 shares in the last quarter. Global Retirement Partners LLC lifted its stake in Madison Square Garden by 1,150.0% during the fourth quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares in the last quarter. Finally, Salomon & Ludwin LLC lifted its stake in Madison Square Garden by 33.1% during the fourth quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock worth $40,000 after purchasing an additional 39 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Stock Performance

MSGS opened at $401.89 on Wednesday. Madison Square Garden has a one year low of $188.60 and a one year high of $403.14. The stock has a market capitalization of $9.68 billion, a PE ratio of -432.14 and a beta of 0.61. The business’s 50 day moving average price is $360.92 and its 200 day moving average price is $317.39.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($1.39). The company had revenue of $432.20 million during the quarter, compared to analysts’ expectations of $429.66 million. During the same quarter in the previous year, the company earned ($0.59) EPS. The business’s revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts forecast that Madison Square Garden will post -0.5 earnings per share for the current fiscal year.

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.