Madison Square Garden (NYSE:MSGS) Raised to “Hold” at Wall Street Zen

Madison Square Garden (NYSE:MSGS) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other equities research analysts also recently weighed in on MSGS. Seaport Research Partners lifted their price objective on Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Weiss Ratings restated a “hold (c-)” rating on shares of Madison Square Garden in a research report on Wednesday, June 24th. Guggenheim boosted their price target 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. Citigroup increased their price objective on Madison Square Garden from $355.00 to $360.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Finally, Susquehanna boosted their target price on shares of Madison Square Garden from $429.00 to $430.00 and gave the company a “positive” rating in a research note on Tuesday, June 23rd. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Madison Square Garden has a consensus rating of “Hold” and an average target price of $403.00.

Madison Square Garden Price Performance

MSGS opened at $396.04 on Friday. Madison Square Garden has a fifty-two week low of $188.60 and a fifty-two week high of $411.73. The firm’s fifty day moving average price is $375.44 and its two-hundred day moving average price is $330.44. The company has a market capitalization of $9.54 billion, a P/E ratio of -425.84 and a beta of 0.61.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($1.39). The firm had revenue of $432.20 million for the quarter, compared to the consensus estimate of $429.66 million. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.59) earnings per share. On average, equities research analysts expect that Madison Square Garden will post -0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Madison Square Garden

A number of institutional investors have recently modified their holdings of MSGS. Amundi grew its stake in shares of Madison Square Garden by 4.7% during the first quarter. Amundi now owns 5,643 shares of the company’s stock valued at $1,091,000 after purchasing an additional 252 shares during the last quarter. Millennium Management LLC lifted its holdings in Madison Square Garden by 8.0% during the 1st quarter. Millennium Management LLC now owns 27,147 shares of the company’s stock worth $5,286,000 after buying an additional 2,006 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Madison Square Garden by 28.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 24,807 shares of the company’s stock worth $4,830,000 after buying an additional 5,452 shares in the last quarter. United Services Automobile Association bought a new position in Madison Square Garden in the 1st quarter valued at $210,000. Finally, Empowered Funds LLC raised its position in shares of Madison Square Garden by 10.8% during the first quarter. Empowered Funds LLC now owns 2,055 shares of the company’s stock worth $400,000 after acquiring an additional 200 shares during the last quarter. 68.94% of the stock is owned by institutional investors.

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.