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

Shares of The Madison Square Garden Company (NYSE:MSGS) have earned an average rating of “Hold” from the nine analysts that are covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $356.80.

A number of research firms have commented on MSGS. Citigroup raised their price objective on Madison Square Garden from $355.00 to $360.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Weiss Ratings upgraded Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, March 27th. Wall Street Zen lowered Madison Square Garden from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. raised 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. Finally, Seaport Research Partners raised their price objective on Madison Square Garden from $430.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th.

Hedge Funds Weigh In On Madison Square Garden

A number of hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Madison Square Garden by 67.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 699,378 shares of the company’s stock valued at $180,895,000 after purchasing an additional 282,318 shares in the last quarter. Reinhart Partners LLC. acquired a new stake in shares of Madison Square Garden in the 4th quarter valued at $55,586,000. Norges Bank acquired a new stake in shares of Madison Square Garden in the 4th quarter valued at $51,107,000. TOMS Capital Investment Management LP boosted its holdings in shares of Madison Square Garden by 82.7% in the 4th quarter. TOMS Capital Investment Management LP now owns 329,705 shares of the company’s stock valued at $85,278,000 after purchasing an additional 149,205 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Madison Square Garden by 182.0% during the 4th quarter. Millennium Management LLC now owns 131,123 shares of the company’s stock valued at $33,915,000 after acquiring an additional 84,628 shares in the last quarter. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Trading Up 0.4%

Shares of NYSE MSGS opened at $386.54 on Friday. The business’s 50 day moving average is $342.10 and its 200-day moving average is $297.88. Madison Square Garden has a 1-year low of $186.00 and a 1-year high of $390.12. The firm has a market cap of $9.31 billion, a P/E ratio of -415.63 and a beta of 0.61.

Madison Square Garden (NYSE:MSGS) last posted 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 business 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 business posted ($0.59) EPS. Madison Square Garden’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts forecast that Madison Square Garden will post -0.5 EPS for the current year.

Madison Square Garden Company Profile

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.