The Madison Square Garden Company (NYSE:MSGS) Receives Consensus Recommendation of “Hold” from Analysts

The Madison Square Garden Company (NYSE:MSGS) has earned a consensus rating of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $286.00.

Several equities analysts have recently weighed in on MSGS shares. Wolfe Research lowered shares of Madison Square Garden from an “outperform” rating to a “hold” rating in a report on Monday, December 15th. Wall Street Zen raised shares of Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Madison Square Garden in a report on Monday, December 29th. Citigroup upped their price objective on shares of Madison Square Garden from $290.00 to $337.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Finally, JPMorgan Chase & Co. increased their target price on shares of Madison Square Garden from $240.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th.

Insiders Place Their Bets

In related news, Director Charles P. Dolan sold 5,659 shares of the company’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $325.26, for a total value of $1,840,646.34. Following the completion of the transaction, the director owned 435 shares of the company’s stock, valued at approximately $141,488.10. This represents a 92.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 19.07% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its stake 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 valued at $25,000 after buying an additional 109 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Madison Square Garden during the 4th quarter worth approximately $26,000. Salomon & Ludwin LLC acquired a new position in shares of Madison Square Garden during the third quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Madison Square Garden by 67.1% during 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. Finally, Global Retirement Partners LLC lifted its position 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 valued at $32,000 after acquiring an additional 115 shares in the last quarter. 68.94% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden Stock Down 1.8%

Shares of MSGS opened at $307.37 on Monday. The company has a market capitalization of $7.40 billion, a price-to-earnings ratio of -445.46 and a beta of 0.56. Madison Square Garden has a 52 week low of $173.26 and a 52 week high of $345.46. The stock’s 50-day moving average price is $300.16 and its 200-day moving average price is $253.10.

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

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.