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 issued to investors on Sunday.

Other analysts also recently issued research reports about the company. Zacks Research raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a research note on Friday, August 14th. Citigroup boosted their target price on Madison Square Garden from $355.00 to $360.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Susquehanna increased their target price on Madison Square Garden from $430.00 to $477.00 and gave the stock a “positive” rating in a research note on Friday, August 14th. Seaport Research Partners upped their price target on shares of Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Finally, Weiss Ratings raised shares of Madison Square Garden from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $471.20.

Madison Square Garden Stock Performance

Shares of MSGS opened at $406.67 on Friday. The business’s fifty day moving average price is $392.71 and its two-hundred day moving average price is $353.88. The firm has a market capitalization of $9.79 billion, a price-to-earnings ratio of 1,355.61 and a beta of 0.62. Madison Square Garden has a 52 week low of $193.87 and a 52 week high of $438.93.

Madison Square Garden (NYSE:MSGS) last issued its earnings results on Wednesday, August 12th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.64 by $0.52. The company had revenue of $278.75 million during the quarter, compared to analysts’ expectations of $227.67 million. Madison Square Garden had a net margin of 0.67% and a negative return on equity of 3.47%. The business’s revenue for the quarter was up 36.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.07) EPS. As a group, research analysts forecast that Madison Square Garden will post -0.74 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MSGS. California State Teachers Retirement System lifted its position in shares of Madison Square Garden by 38,910.2% in the second quarter. California State Teachers Retirement System now owns 7,198,160 shares of the company’s stock valued at $2,892,509,000 after buying an additional 7,179,708 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Madison Square Garden by 67.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 699,378 shares of the company’s stock valued at $180,895,000 after acquiring an additional 282,318 shares during the period. Reinhart Partners LLC. acquired a new stake in Madison Square Garden during the 4th quarter valued at $55,586,000. Norges Bank acquired a new stake in Madison Square Garden during the 4th quarter valued at $51,107,000. Finally, TOMS Capital Investment Management LP boosted its position in Madison Square Garden by 82.7% during the fourth quarter. TOMS Capital Investment Management LP now owns 329,705 shares of the company’s stock worth $85,278,000 after purchasing an additional 149,205 shares during the period. 68.94% of the stock is currently owned by institutional investors and hedge funds.

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.