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

Shares of The Madison Square Garden Company (NYSE:MSGS) have been assigned a consensus rating of “Hold” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $471.20.

Several research analysts have commented on MSGS shares. Susquehanna upped their target price on shares of Madison Square Garden from $430.00 to $477.00 and gave the stock a “positive” rating in a research report on Friday, August 14th. Zacks Research raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a report on Friday, August 14th. Guggenheim boosted their price objective on Madison Square Garden from $522.00 to $584.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Weiss Ratings raised Madison Square Garden from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 14th. Finally, Seaport Research Partners lifted their price objective on shares of Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th.

Madison Square Garden Trading Down 0.0%

Shares of Madison Square Garden stock opened at $398.74 on Monday. The stock has a market capitalization of $9.60 billion, a price-to-earnings ratio of 1,329.17 and a beta of 0.60. Madison Square Garden has a twelve month low of $207.90 and a twelve month high of $438.93. The business’s 50 day simple moving average is $395.64 and its 200-day simple moving average is $365.07.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings data on Wednesday, August 12th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.52. Madison Square Garden had a negative return on equity of 3.47% and a net margin of 0.67%.The business had revenue of $278.75 million during the quarter, compared to analyst estimates of $227.67 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. The business’s revenue for the quarter was up 36.6% compared to the same quarter last year. Sell-side analysts predict that Madison Square Garden will post -0.8 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd increased its position in shares of Madison Square Garden by 67.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 122 shares of the company’s stock valued at $32,000 after purchasing an additional 49 shares during the period. SJS Investment Consulting Inc. lifted its holdings in shares of Madison Square Garden by 488.2% in the first quarter. SJS Investment Consulting Inc. now owns 100 shares of the company’s stock valued at $32,000 after buying an additional 83 shares during the period. Allworth Financial LP boosted its stake 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 buying an additional 41 shares in the last quarter. GHP Investment Advisors Inc. bought a new stake in Madison Square Garden in the first quarter worth about $51,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Madison Square Garden by 35.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 162 shares of the company’s stock valued at $52,000 after acquiring an additional 42 shares during the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

About Madison Square Garden

Madison Square Garden Sports Corp. is a professional sports and entertainment company headquartered in New York. The company owns and operates the New York Knicks of the National Basketball Association and the New York Rangers of the National Hockey League. Through these franchises, it manages team operations, ticketing, sponsorships, media rights, merchandising and other commercial activities connected with professional sports.

Madison Square Garden Sports also owns the Hartford Wolf Pack, a minor-league hockey team affiliated with the Rangers, and has been involved in esports through Knicks Gaming, its NBA 2K League team.