Madison Square Garden (NYSE:MSGS) Sets New 12-Month High – Should You Buy?

Shares of The Madison Square Garden Company (NYSE:MSGS) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $393.83 and last traded at $392.17, with a volume of 782 shares changing hands. The stock had previously closed at $386.23.

Wall Street Analyst Weigh In

MSGS has been the subject of a number of research reports. Weiss Ratings raised shares of Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, March 27th. Susquehanna raised their price target on shares of Madison Square Garden from $404.00 to $429.00 and gave the stock a “positive” rating in a research report on Thursday, May 28th. Seaport Research Partners lifted their price target on shares of Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Wall Street Zen downgraded shares of Madison Square Garden from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Citigroup increased their price objective on shares of Madison Square Garden from $355.00 to $360.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $356.80.

Madison Square Garden Stock Performance

The stock’s fifty day simple moving average is $342.10 and its two-hundred day simple moving average is $298.48. The company has a market capitalization of $9.40 billion, a price-to-earnings ratio of -418.57 and a beta of 0.61.

Madison Square Garden (NYSE:MSGS) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($1.39). The business had revenue of $432.20 million during the quarter, compared to the consensus estimate of $429.66 million. During the same quarter in the prior year, the company earned ($0.59) earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts anticipate that The Madison Square Garden Company will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Madison Square Garden

A number of institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd acquired a new stake in Madison Square Garden during the 4th quarter worth about $26,000. Caitong International Asset Management Co. Ltd lifted its stake in Madison Square Garden by 67.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 122 shares of the company’s stock valued at $32,000 after acquiring an additional 49 shares during the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Madison Square Garden by 488.2% in the first quarter. SJS Investment Consulting Inc. now owns 100 shares of the company’s stock worth $32,000 after acquiring an additional 83 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Madison Square Garden by 1,150.0% in the fourth quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock worth $32,000 after acquiring an additional 115 shares during the last quarter. Finally, Accredited Wealth Management LLC lifted 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 in the last quarter. 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.