Madison Square Garden (NYSE:MSGS) Upgraded by Wall Street Zen to Hold Rating

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

Several other brokerages also recently commented on MSGS. Guggenheim reissued a “buy” rating on shares of Madison Square Garden in a research note on Thursday, February 5th. Weiss Ratings reissued a “sell (d+)” rating on shares of Madison Square Garden in a research report on Monday, December 29th. Wolfe Research cut Madison Square Garden from an “outperform” rating to a “hold” rating in a research note on Monday, December 15th. JPMorgan Chase & Co. upped their target price on shares of Madison Square Garden from $240.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Finally, Citigroup raised their price target on shares of Madison Square Garden from $290.00 to $337.00 and gave the company a “buy” rating in a research report on Friday. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Madison Square Garden has a consensus rating of “Hold” and an average target price of $280.00.

Madison Square Garden Trading Up 4.8%

Madison Square Garden stock opened at $291.51 on Friday. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of -422.48 and a beta of 0.61. The firm’s fifty day moving average price is $266.20 and its two-hundred day moving average price is $232.01. Madison Square Garden has a 1-year low of $173.26 and a 1-year high of $298.97.

Madison Square Garden (NYSE:MSGS) last posted 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 the consensus estimate of $394.58 million. During the same quarter in the previous year, the company earned $0.05 EPS. Madison Square Garden’s revenue was up 12.7% compared to the same quarter last year. On average, research analysts forecast that Madison Square Garden will post 0.73 EPS for the current year.

Institutional Trading of Madison Square Garden

A number of large investors have recently added to or reduced their stakes in MSGS. Kestra Advisory Services LLC purchased a new position in Madison Square Garden in the fourth quarter valued at about $190,000. Marshall Wace LLP raised its holdings in shares of Madison Square Garden by 366.0% in the 4th quarter. Marshall Wace LLP now owns 35,944 shares of the company’s stock worth $9,297,000 after purchasing an additional 28,231 shares during the period. Quinn Opportunity Partners LLC purchased a new position in Madison Square Garden in the fourth quarter valued at approximately $517,000. CANADA LIFE ASSURANCE Co grew its holdings in Madison Square Garden by 3.3% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 15,555 shares of the company’s stock valued at $4,023,000 after purchasing an additional 497 shares during the period. Finally, Fayez Sarofim & Co purchased a new stake in Madison Square Garden in the fourth quarter worth $213,000. Hedge funds and other institutional investors 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.