Madison Square Garden (NYSE:MSGS) Given New $450.00 Price Target at JPMorgan Chase & Co.

Madison Square Garden (NYSE:MSGS) had its price target boosted by JPMorgan Chase & Co. from $400.00 to $450.00 in a research report report published on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently weighed in on MSGS. Guggenheim boosted their price target on shares of Madison Square Garden from $422.00 to $470.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Susquehanna lifted their price objective on Madison Square Garden from $429.00 to $430.00 and gave the stock a “positive” rating in a report on Tuesday, June 23rd. Citigroup lifted their price objective on Madison Square Garden from $355.00 to $360.00 and gave the stock a “neutral” rating in a report on Wednesday, May 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Madison Square Garden in a report on Wednesday, June 24th. Finally, Zacks Research lowered Madison Square Garden from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 16th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $432.00.

Madison Square Garden Price Performance

Shares of NYSE MSGS opened at $396.15 on Tuesday. The stock has a market capitalization of $9.54 billion, a P/E ratio of -425.97 and a beta of 0.61. Madison Square Garden has a one year low of $188.60 and a one year high of $411.73. The firm’s 50 day simple moving average is $377.72 and its two-hundred day simple moving average is $332.38.

Madison Square Garden (NYSE:MSGS) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($1.39). The firm had revenue of $432.20 million for the quarter, compared to analysts’ expectations of $429.66 million. During the same period last year, the firm posted ($0.59) EPS. The business’s revenue was up 1.9% on a year-over-year basis. As a group, equities analysts expect that Madison Square Garden will post -0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Madison Square Garden

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of Madison Square Garden by 11.8% during the third quarter. JPMorgan Chase & Co. now owns 117,905 shares of the company’s stock worth $26,764,000 after purchasing an additional 12,412 shares during the period. Gabelli Funds LLC grew its stake in shares of Madison Square Garden by 0.9% in the fourth quarter. Gabelli Funds LLC now owns 394,292 shares of the company’s stock worth $101,984,000 after purchasing an additional 3,607 shares during the last quarter. M&T Bank Corp increased its holdings in Madison Square Garden by 1,394.6% during the 4th quarter. M&T Bank Corp now owns 16,396 shares of the company’s stock valued at $4,241,000 after purchasing an additional 15,299 shares during the period. Assetmark Inc. increased its holdings in Madison Square Garden by 38.7% during the 4th quarter. Assetmark Inc. now owns 11,794 shares of the company’s stock valued at $3,051,000 after purchasing an additional 3,288 shares during the period. Finally, Gamco Investors INC. ET AL raised its position in Madison Square Garden by 1.1% during the 4th quarter. Gamco Investors INC. ET AL now owns 613,391 shares of the company’s stock valued at $158,654,000 after purchasing an additional 6,873 shares during the last quarter. Institutional investors 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.