Madison Square Garden (NYSE:MSGS) Stock Price Expected to Rise, Citigroup Analyst Says

Madison Square Garden (NYSE:MSGS) had its target price upped by research analysts at Citigroup from $290.00 to $337.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 15.60% from the stock’s current price.

MSGS has been the subject of a number of other research reports. Wolfe Research lowered Madison Square Garden from an “outperform” rating to a “hold” rating in a research report on Monday, December 15th. Guggenheim restated a “buy” rating on shares of Madison Square Garden in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Madison Square Garden in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Madison Square Garden from $240.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $280.00.

Madison Square Garden Price Performance

Madison Square Garden stock opened at $291.51 on Friday. Madison Square Garden has a 1 year low of $173.26 and a 1 year high of $298.97. The firm’s 50 day moving average price is $266.20 and its 200-day moving average price is $232.01. The stock has a market cap of $7.00 billion, a P/E ratio of -422.48 and a beta of 0.61.

Madison Square Garden (NYSE:MSGS) last issued its earnings results on Thursday, February 5th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). The company had revenue of $403.42 million for the quarter, compared to analysts’ expectations of $394.58 million. The business’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company posted $0.05 EPS. As a group, equities analysts expect that Madison Square Garden will post 0.73 EPS for the current year.

Institutional Trading of Madison Square Garden

Institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its position in Madison Square Garden by 5,450.0% during the third quarter. Farther Finance Advisors LLC now owns 111 shares of the company’s stock valued at $25,000 after acquiring an additional 109 shares during the last quarter. Salomon & Ludwin LLC bought a new position in Madison Square Garden during the 3rd quarter valued at about $27,000. Global Retirement Partners LLC raised its position in Madison Square Garden by 1,150.0% in the 4th quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares during the period. Accredited Wealth Management LLC lifted its stake in Madison Square Garden by 524.0% in the third quarter. Accredited Wealth Management LLC now owns 156 shares of the company’s stock worth $35,000 after purchasing an additional 131 shares during the last quarter. Finally, Sound Income Strategies LLC purchased a new position in shares of Madison Square Garden during the fourth quarter valued at approximately $45,000. 68.94% of the stock is currently owned by institutional investors.

About Madison Square Garden

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.