Madison Square Garden (NYSE:MSGS) Upgraded at Weiss Ratings

Weiss Ratings upgraded shares of Madison Square Garden (NYSE:MSGS) from a sell (d+) rating to a hold (c-) rating in a research note published on Saturday morning,Weiss Ratings reports.

Several other equities analysts have also issued reports on MSGS. 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. BTIG Research initiated coverage on shares of Madison Square Garden in a report on Tuesday, October 7th. They issued a “neutral” rating for the company. Zacks Research upgraded shares of Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Finally, Citigroup initiated coverage on shares of Madison Square Garden in a report on Tuesday, September 9th. They issued a “buy” rating and a $285.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $258.83.

Madison Square Garden Stock Performance

Madison Square Garden stock opened at $227.65 on Friday. The stock’s 50 day simple moving average is $213.55 and its two-hundred day simple moving average is $202.73. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of -247.45 and a beta of 0.78. Madison Square Garden has a fifty-two week low of $173.26 and a fifty-two week high of $237.99.

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

Institutional Investors Weigh In On Madison Square Garden

Large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position 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 purchasing an additional 109 shares during the period. Salomon & Ludwin LLC bought a new stake in Madison Square Garden in the 3rd quarter worth approximately $27,000. Fifth Third Bancorp grew its position in Madison Square Garden by 59.5% in the 2nd quarter. Fifth Third Bancorp now owns 185 shares of the company’s stock worth $39,000 after purchasing an additional 69 shares during the period. Covestor Ltd grew its position in Madison Square Garden by 35.5% in 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 period. Finally, Tower Research Capital LLC TRC grew its position in Madison Square Garden by 313.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 401 shares of the company’s stock worth $84,000 after purchasing an additional 304 shares during the period. Institutional investors 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.