Analysts Set The Madison Square Garden Company (NYSE:MSGS) PT at $333.80

The Madison Square Garden Company (NYSE:MSGS) has received a consensus recommendation of “Hold” from the nine research firms that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $342.20.

A number of brokerages recently issued reports on MSGS. Seaport Research Partners upgraded shares of Madison Square Garden from a “neutral” rating to a “buy” rating and set a $430.00 target price for the company in a research report on Friday, April 10th. JPMorgan Chase & Co. increased their target price on shares of Madison Square Garden from $240.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Weiss Ratings upgraded shares of Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, March 27th. Wall Street Zen lowered shares of Madison Square Garden from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Guggenheim increased their target price on shares of Madison Square Garden from $401.00 to $422.00 and gave the company a “buy” rating in a research report on Friday.

Insider Transactions at Madison Square Garden

In related news, Director Charles P. Dolan sold 5,659 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $325.26, for a total value of $1,840,646.34. Following the completion of the transaction, the director owned 435 shares in the company, valued at $141,488.10. This represents a 92.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 19.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Madison Square Garden

Several large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in shares of Madison Square Garden by 67.7% during 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. T. Rowe Price Investment Management Inc. boosted its position in shares of Madison Square Garden by 8.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 648,515 shares of the company’s stock valued at $167,739,000 after purchasing an additional 49,412 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Madison Square Garden by 1.1% during the 4th quarter. Gamco Investors INC. ET AL now owns 613,391 shares of the company’s stock valued at $158,654,000 after purchasing an additional 6,873 shares in the last quarter. State Street Corp boosted its position in shares of Madison Square Garden by 3.0% during the 4th quarter. State Street Corp now owns 538,404 shares of the company’s stock valued at $139,258,000 after purchasing an additional 15,656 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Madison Square Garden by 0.4% during the 3rd quarter. Victory Capital Management Inc. now owns 455,042 shares of the company’s stock valued at $103,295,000 after purchasing an additional 1,688 shares in the last quarter. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Stock Down 0.2%

MSGS stock opened at $350.98 on Tuesday. Madison Square Garden has a fifty-two week low of $186.00 and a fifty-two week high of $360.45. The firm’s 50-day simple moving average is $326.96 and its 200 day simple moving average is $283.73. The stock has a market cap of $8.45 billion, a PE ratio of -377.39 and a beta of 0.59.

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