The Madison Square Garden Company (NYSE:MSGS) Receives $286.00 Consensus Price Target from Brokerages

The Madison Square Garden Company (NYSE:MSGS) has been assigned an average rating of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $286.00.

A number of analysts recently issued reports on the stock. Guggenheim reissued a “buy” rating on shares of Madison Square Garden in a research report on Thursday, February 5th. Citigroup increased their price target on shares of Madison Square Garden from $290.00 to $337.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. JPMorgan Chase & Co. increased their target price on shares of Madison Square Garden from $240.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Wall Street Zen raised shares of Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Madison Square Garden in a research report on Monday, December 29th.

Insider Buying and Selling at Madison Square Garden

In related news, Director Charles P. Dolan sold 5,659 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $325.26, for a total value of $1,840,646.34. Following the sale, the director owned 435 shares of the company’s stock, valued at approximately $141,488.10. This trade represents a 92.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 19.07% of the company’s stock.

Institutional Investors Weigh In On Madison Square Garden

Hedge funds and other institutional investors have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd acquired a new position in Madison Square Garden in the fourth quarter worth approximately $26,000. Farther Finance Advisors LLC boosted its stake in shares of Madison Square Garden by 5,450.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 111 shares of the company’s stock worth $25,000 after acquiring an additional 109 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in shares of Madison Square Garden in the 3rd quarter worth $27,000. Global Retirement Partners LLC raised its position in shares of Madison Square Garden by 1,150.0% during the fourth quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares during the period. Finally, Accredited Wealth Management LLC raised its position in shares of Madison Square Garden by 524.0% during the third quarter. Accredited Wealth Management LLC now owns 156 shares of the company’s stock worth $35,000 after purchasing an additional 131 shares during the period. 68.94% of the stock is currently owned by institutional investors.

Madison Square Garden Trading Up 3.0%

Shares of MSGS stock opened at $331.28 on Thursday. The company has a market capitalization of $7.97 billion, a price-to-earnings ratio of -480.12 and a beta of 0.61. The firm has a 50-day moving average price of $282.76 and a 200 day moving average price of $240.14. Madison Square Garden has a twelve month low of $173.26 and a twelve month high of $345.46.

Madison Square Garden (NYSE:MSGS) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.32). The firm had revenue of $403.42 million during the quarter, compared to analyst estimates of $394.58 million. During the same quarter last year, the business earned $0.05 EPS. The firm’s revenue was up 12.7% on a year-over-year basis. As a group, research analysts predict that Madison Square Garden will post 0.73 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.