Madison Square Garden (NYSE:MSGS) Price Target Raised to $430.00

Madison Square Garden (NYSE:MSGS) had its target price boosted by research analysts at Susquehanna from $429.00 to $430.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s price target indicates a potential upside of 17.27% from the company’s current price.

A number of other equities analysts also recently commented on MSGS. Seaport Research Partners raised their target price 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. Citigroup raised their price objective on Madison Square Garden from $355.00 to $360.00 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. Weiss Ratings upgraded Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, March 27th. Wall Street Zen lowered Madison Square Garden from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Guggenheim raised their target price on Madison Square Garden from $422.00 to $470.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Madison Square Garden presently has an average rating of “Hold” and a consensus target price of $357.00.

Madison Square Garden Price Performance

NYSE MSGS traded down $3.93 during mid-day trading on Tuesday, hitting $366.66. The company’s stock had a trading volume of 57,280 shares, compared to its average volume of 246,999. Madison Square Garden has a 52-week low of $188.60 and a 52-week high of $397.00. The stock’s fifty day simple moving average is $354.72 and its two-hundred day simple moving average is $310.62. The firm has a market capitalization of $8.83 billion, a P/E ratio of -394.23 and a beta of 0.61.

Madison Square Garden (NYSE:MSGS) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($1.39). The business had revenue of $432.20 million for the quarter, compared to the consensus estimate of $429.66 million. During the same period in the prior year, the company posted ($0.59) EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities analysts forecast that Madison Square Garden will post -0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Madison Square Garden

Several institutional investors and hedge funds have recently made changes to their positions in the business. Glenmede Trust Co. NA acquired a new stake in shares of Madison Square Garden during the first quarter worth approximately $201,000. Argent Capital Management LLC increased its stake in shares of Madison Square Garden by 54.6% in the first quarter. Argent Capital Management LLC now owns 4,503 shares of the company’s stock worth $1,447,000 after buying an additional 1,591 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in Madison Square Garden in the first quarter valued at $7,110,000. Amundi acquired a new stake in Madison Square Garden in the first quarter valued at $252,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Madison Square Garden by 35.0% during 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. 68.94% of the stock is currently 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.