Madison Square Garden (NYSE:MSGS) Upgraded at Zacks Research

Zacks Research upgraded shares of Madison Square Garden (NYSE:MSGS) from a strong sell rating to a hold rating in a research note published on Monday morning,Zacks.com reports.

A number of other analysts also recently commented on the company. Citigroup started coverage on Madison Square Garden in a research note on Tuesday, September 9th. They issued a “buy” rating and a $285.00 target price on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Madison Square Garden in a research report on Wednesday, October 8th. BTIG Research assumed coverage on shares of Madison Square Garden in a research note on Tuesday, October 7th. They set a “neutral” rating on the stock. Finally, Morgan Stanley lifted their target price on shares of Madison Square Garden from $215.00 to $220.00 and gave the company an “equal weight” rating in a report on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $258.83.

Madison Square Garden Price Performance

Shares of Madison Square Garden stock opened at $223.13 on Monday. The stock has a market cap of $5.36 billion, a PE ratio of -242.53 and a beta of 0.78. The firm has a fifty day moving average price of $209.37 and a 200 day moving average price of $200.47. Madison Square Garden has a 1 year low of $173.26 and a 1 year high of $237.99.

Madison Square Garden (NYSE:MSGS) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.35. The company had revenue of $203.96 million for the quarter, compared to analyst estimates of $151.00 million. Madison Square Garden had a negative net margin of 2.16% and a negative return on equity of 1.76%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.06 earnings per share. As a group, equities analysts expect that Madison Square Garden will post 0.73 EPS for the current year.

Institutional Investors Weigh In On Madison Square Garden

A number of institutional investors have recently added to or reduced their stakes in MSGS. Farther Finance Advisors LLC increased its holdings in Madison Square Garden by 5,450.0% in 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. Fifth Third Bancorp grew its position in shares of Madison Square Garden by 59.5% in the second quarter. Fifth Third Bancorp now owns 185 shares of the company’s stock valued at $39,000 after purchasing an additional 69 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Madison Square Garden by 313.4% during the second quarter. Tower Research Capital LLC TRC now owns 401 shares of the company’s stock worth $84,000 after purchasing an additional 304 shares in the last quarter. Covestor Ltd raised its position in shares of Madison Square Garden by 35.5% during the 1st quarter. Covestor Ltd now owns 416 shares of the company’s stock worth $81,000 after purchasing an additional 109 shares during the last quarter. Finally, CWM LLC lifted its stake in Madison Square Garden by 407.7% in the 2nd quarter. CWM LLC now owns 528 shares of the company’s stock valued at $110,000 after buying an additional 424 shares in the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

Madison Square Garden Company Profile

Madison Square Garden Sports Corp. operates as a professional sports company in the United States. The company owns and operates a portfolio of assets that consists of the New York Knickerbockers of the National Basketball Association (NBA) and the New York Rangers of the National Hockey League. Its other professional franchises include development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.