BTIG Research Analysts Give The Madison Square Garden Company (NYSE:MSG) a $260.00 Price Target

BTIG Research set a $260.00 price target on The Madison Square Garden Company (NYSE:MSG) in a research note issued to investors on Monday, September 11th. The firm currently has a buy rating on the stock.

A number of other brokerages have also recently weighed in on MSG. Zacks Investment Research cut shares of The Madison Square Garden from a hold rating to a sell rating in a research report on Wednesday, July 5th. ValuEngine raised shares of The Madison Square Garden from a sell rating to a hold rating in a research report on Friday, June 2nd. Citigroup Inc reduced their price target on shares of The Madison Square Garden from $102.00 to $93.00 and set a buy rating on the stock in a research report on Monday, May 15th. Jefferies Group LLC reaffirmed a hold rating and set a $185.00 price target on shares of The Madison Square Garden in a research report on Monday, May 15th. Finally, Morgan Stanley reaffirmed an overweight rating and set a $245.00 price target (up from $215.00) on shares of The Madison Square Garden in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $211.50.

The Madison Square Garden (NYSE:MSG) traded down 0.65% during midday trading on Monday, reaching $214.10. 143,969 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $216.35 and its 200 day moving average is $203.65. The firm’s market capitalization is $5.04 billion. The Madison Square Garden has a 52 week low of $160.96 and a 52 week high of $226.95.

The Madison Square Garden (NYSE:MSG) last released its earnings results on Thursday, August 17th. The company reported ($3.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.10) by ($2.48). The Madison Square Garden had a negative net margin of 5.52% and a negative return on equity of 2.43%. The company had revenue of $305.60 million during the quarter, compared to analysts’ expectations of $279.19 million. During the same quarter in the previous year, the firm posted ($2.39) earnings per share. The Madison Square Garden’s revenue for the quarter was up 40.3% compared to the same quarter last year. On average, analysts expect that The Madison Square Garden will post $0.76 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of The Madison Square Garden by 3.7% during the first quarter. Vanguard Group Inc. now owns 1,441,299 shares of the company’s stock worth $287,842,000 after purchasing an additional 51,261 shares in the last quarter. BlackRock Inc. lifted its position in shares of The Madison Square Garden by 13,915.4% during the first quarter. BlackRock Inc. now owns 767,202 shares of the company’s stock worth $153,216,000 after purchasing an additional 761,728 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of The Madison Square Garden by 10.7% during the first quarter. Dimensional Fund Advisors LP now owns 481,679 shares of the company’s stock worth $96,196,000 after purchasing an additional 46,665 shares in the last quarter. Gluskin Sheff & Assoc Inc. lifted its position in shares of The Madison Square Garden by 5.8% during the second quarter. Gluskin Sheff & Assoc Inc. now owns 397,128 shares of the company’s stock worth $78,195,000 after purchasing an additional 21,857 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new position in shares of The Madison Square Garden during the second quarter worth $75,632,000. 70.83% of the stock is currently owned by institutional investors and hedge funds.

The Madison Square Garden Company Profile

The Madison Square Garden Company is a holding company, which is engaged in live experiences consisting of celebrated venues, sports teams, and entertainment productions. The Company operates in two segments, which include MSG Entertainment and MSG Sports. The MSG Sports segment includes the Company’s professional sports franchises, which include the New York Knicks (the Knicks) of the National Basketball Association (the NBA), the New York Rangers (the Rangers) of the National Hockey League (the NHL), the New York Liberty (the Liberty) of the Women’s National Basketball Association (the WNBA), the Hartford Wolf Pack of the American Hockey League (the AHL), which is the primary player development team for the Rangers, and the Westchester Knicks, an NBA Development League team.

Analyst Recommendations for The Madison Square Garden (NYSE:MSG)

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