Analysts Set The Madison Square Garden Company (NYSE:MSGS) PT at $357.00

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

Several equities analysts have recently issued reports on the company. Citigroup boosted their price objective on Madison Square Garden from $355.00 to $360.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Guggenheim lifted their target price on Madison Square Garden from $422.00 to $470.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Wall Street Zen cut Madison Square Garden from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Susquehanna raised their price target on Madison Square Garden from $429.00 to $430.00 and gave the company a “positive” rating in a report on Tuesday, June 23rd. Finally, Seaport Research Partners lifted their price objective on shares of Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th.

Institutional Trading of Madison Square Garden

A number of institutional investors have recently made changes to their positions in MSGS. GAMMA Investing LLC raised its holdings in Madison Square Garden by 4.7% during the second quarter. GAMMA Investing LLC now owns 1,275 shares of the company’s stock worth $512,000 after purchasing an additional 57 shares in the last quarter. Versant Capital Management Inc boosted its stake in Madison Square Garden by 2.6% during the 2nd quarter. Versant Capital Management Inc now owns 1,214 shares of the company’s stock valued at $488,000 after purchasing an additional 31 shares in the last quarter. Glenmede Trust Co. NA acquired a new position in shares of Madison Square Garden during the 1st quarter valued at $201,000. Argent Capital Management LLC raised its stake in shares of Madison Square Garden by 54.6% in the 1st quarter. Argent Capital Management LLC now owns 4,503 shares of the company’s stock worth $1,447,000 after buying an additional 1,591 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new stake in shares of Madison Square Garden in the 1st quarter worth $7,110,000. 68.94% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden Stock Performance

Madison Square Garden stock opened at $389.96 on Wednesday. Madison Square Garden has a one year low of $188.60 and a one year high of $411.73. The company has a 50-day simple moving average of $366.82 and a 200-day simple moving average of $322.87. The firm has a market capitalization of $9.39 billion, a P/E ratio of -419.31 and a beta of 0.61.

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