Madison Square Garden (NYSE:MSGS) Stock Rating Upgraded by Wall Street Zen

Madison Square Garden (NYSE:MSGS) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday.

Several other brokerages have also weighed in on MSGS. Susquehanna upped their price objective on shares of Madison Square Garden from $430.00 to $477.00 and gave the company a “positive” rating in a report on Friday, August 14th. Guggenheim boosted their price target on shares of Madison Square Garden from $522.00 to $584.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Zacks Research raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th. Citigroup lifted their price target on shares of Madison Square Garden from $355.00 to $360.00 and gave the stock a “neutral” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings upgraded shares of Madison Square Garden from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $471.20.

Madison Square Garden Stock Performance

Madison Square Garden stock opened at $402.36 on Friday. Madison Square Garden has a 52-week low of $193.87 and a 52-week high of $438.93. The firm has a 50 day moving average price of $392.08 and a two-hundred day moving average price of $353.03. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of 1,341.26 and a beta of 0.62.

Madison Square Garden (NYSE:MSGS) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.52. Madison Square Garden had a net margin of 0.67% and a negative return on equity of 3.47%. The company had revenue of $278.75 million for the quarter, compared to analyst estimates of $227.67 million. During the same period in the prior year, the firm posted ($0.07) EPS. The company’s quarterly revenue was up 36.6% on a year-over-year basis. As a group, equities research analysts predict that Madison Square Garden will post -0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its holdings in Madison Square Garden by 38,910.2% in the 2nd quarter. California State Teachers Retirement System now owns 7,198,160 shares of the company’s stock worth $2,892,509,000 after buying an additional 7,179,708 shares during the period. HB Wealth Management LLC purchased a new position in Madison Square Garden during the 2nd quarter valued at about $225,000. Odyssean LLC lifted its holdings in shares of Madison Square Garden by 64.4% during the second quarter. Odyssean LLC now owns 7,728 shares of the company’s stock valued at $3,105,000 after purchasing an additional 3,028 shares during the last quarter. Syon Capital LLC increased its position in Madison Square Garden by 9.9% during the 2nd quarter. Syon Capital LLC now owns 1,775 shares of the company’s stock valued at $713,000 after buying an additional 160 shares in the last quarter. Finally, AXQ Capital LP bought a new position in Madison Square Garden during the 2nd quarter valued at approximately $2,638,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.

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.