Madison Square Garden (NYSE:MSGS) Price Target Raised to $337.00

Madison Square Garden (NYSE:MSGS) had its price objective raised by Citigroup from $290.00 to $337.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently weighed in on the company. Wolfe Research cut Madison Square Garden from an “outperform” rating to a “hold” rating in a research report on Monday, December 15th. JPMorgan Chase & Co. increased their price target on Madison Square Garden from $240.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Weiss Ratings restated a “sell (d+)” rating on shares of Madison Square Garden in a research note on Monday, December 29th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Madison Square Garden in a research report on Thursday, February 5th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Madison Square Garden has a consensus rating of “Hold” and a consensus target price of $280.00.

Madison Square Garden Stock Up 4.8%

Shares of Madison Square Garden stock opened at $291.51 on Friday. The company has a market cap of $7.02 billion, a P/E ratio of -422.48 and a beta of 0.61. The firm’s 50 day moving average price is $266.20 and its 200-day moving average price is $232.22. Madison Square Garden has a 52-week low of $173.26 and a 52-week high of $298.97.

Madison Square Garden (NYSE:MSGS) last posted its earnings results on Thursday, February 5th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). The company had revenue of $403.42 million for the quarter, compared to the consensus estimate of $394.58 million. During the same period last year, the firm earned $0.05 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. As a group, equities research analysts forecast that Madison Square Garden will post 0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Madison Square Garden

Institutional investors have recently bought and sold shares of the business. Salomon & Ludwin LLC boosted its holdings in shares of Madison Square Garden by 33.1% in the 4th quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock valued at $40,000 after acquiring an additional 39 shares during the last quarter. Allworth Financial LP lifted its position in Madison Square Garden by 26.5% during the fourth quarter. Allworth Financial LP now owns 196 shares of the company’s stock valued at $51,000 after purchasing an additional 41 shares during the period. Cibc World Market Inc. boosted its holdings in Madison Square Garden by 2.3% in the fourth quarter. Cibc World Market Inc. now owns 1,924 shares of the company’s stock valued at $498,000 after purchasing an additional 43 shares during the last quarter. Quadrant Capital Group LLC grew its position in Madison Square Garden by 2.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,746 shares of the company’s stock worth $452,000 after purchasing an additional 45 shares during the period. Finally, Independent Advisor Alliance raised its stake in shares of Madison Square Garden by 2.7% during the 3rd quarter. Independent Advisor Alliance now owns 1,765 shares of the company’s stock valued at $401,000 after buying an additional 46 shares during the last quarter. 68.94% of the stock is owned by hedge funds and other institutional investors.

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.