Madison Square Garden (NYSE:MSGS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Madison Square Garden (NYSE:MSGS) from a sell rating to a hold rating in a research note released on Saturday.

Several other research firms have also recently weighed in on MSGS. Weiss Ratings reiterated a “hold (c-)” rating on shares of Madison Square Garden in a report on Wednesday, June 24th. Citigroup raised their price objective on shares of Madison Square Garden from $355.00 to $360.00 and gave the stock a “neutral” rating in a report on Wednesday, May 13th. Susquehanna boosted their price objective on shares of Madison Square Garden from $429.00 to $430.00 and gave the company a “positive” rating in a research report on Tuesday, June 23rd. Seaport Research Partners upped their target price on shares of Madison Square Garden from $430.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Finally, Morgan Stanley upgraded Madison Square Garden from an “equal weight” rating to an “overweight” rating and set a $450.00 target price for the company in a report on Wednesday, July 15th. Four investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $403.00.

Madison Square Garden Price Performance

NYSE:MSGS opened at $398.05 on Friday. The business’s 50-day simple moving average is $376.52 and its 200-day simple moving average is $331.41. Madison Square Garden has a fifty-two week low of $188.60 and a fifty-two week high of $411.73. The stock has a market capitalization of $9.59 billion, a PE ratio of -428.01 and a beta of 0.61.

Madison Square Garden (NYSE:MSGS) last posted its earnings results on Friday, May 8th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($1.39). The company had revenue of $432.20 million during the quarter, compared to analyst estimates of $429.66 million. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.59) earnings per share. On average, research analysts expect that Madison Square Garden will post -0.52 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MSGS. SJS Investment Consulting Inc. boosted its holdings in shares of Madison Square Garden by 488.2% in the 1st 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 last quarter. Aster Capital Management DIFC Ltd acquired a new position in Madison Square Garden during the fourth quarter worth $26,000. Caitong International Asset Management Co. Ltd increased its holdings in 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 worth $32,000 after buying an additional 49 shares during the last quarter. Global Retirement Partners LLC raised its position in Madison Square Garden by 1,150.0% during the fourth quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock worth $32,000 after acquiring an additional 115 shares in the last quarter. Finally, Salomon & Ludwin LLC raised its position in Madison Square Garden by 33.1% during the fourth quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock worth $40,000 after acquiring an additional 39 shares in the last quarter. Institutional investors and hedge funds 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.