Madison Square Garden (NYSE:MSGS) Stock Rating Upgraded by Wall Street Zen

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

A number of other equities research analysts have also commented on MSGS. Guggenheim reiterated a “buy” rating on shares of Madison Square Garden in a research report on Thursday, February 5th. Wolfe Research lowered Madison Square Garden from an “outperform” rating to a “hold” rating in a research note on Monday, December 15th. Citigroup increased their target price on shares of Madison Square Garden from $290.00 to $337.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. raised their price target 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. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Madison Square Garden in a research note on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Madison Square Garden has an average rating of “Hold” and an average price target of $280.00.

Madison Square Garden Price Performance

MSGS opened at $291.51 on Friday. Madison Square Garden has a fifty-two week low of $173.26 and a fifty-two week high of $298.97. The company’s 50 day moving average price is $266.20 and its two-hundred day moving average price is $231.80. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of -422.48 and a beta of 0.61.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $394.58 million. During the same period in the prior year, the firm earned $0.05 earnings per share. The business’s revenue was up 12.7% on a year-over-year basis. As a group, equities research analysts predict that Madison Square Garden will post 0.73 EPS for the current year.

Institutional Trading of Madison Square Garden

Several large investors have recently modified their holdings of MSGS. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Madison Square Garden during the 2nd quarter worth about $288,000. Blume Capital Management Inc. bought a new stake in Madison Square Garden in the 2nd quarter valued at about $638,000. Y Intercept Hong Kong Ltd raised its stake in Madison Square Garden by 775.0% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 16,888 shares of the company’s stock worth $3,529,000 after buying an additional 14,958 shares during the period. Advisors Capital Management LLC boosted its holdings in Madison Square Garden by 12.2% in the second quarter. Advisors Capital Management LLC now owns 11,861 shares of the company’s stock worth $2,478,000 after acquiring an additional 1,291 shares in the last quarter. Finally, Vise Technologies Inc. acquired a new stake in Madison Square Garden in the second quarter valued at approximately $437,000. Institutional investors and hedge funds own 68.94% of the company’s stock.

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.