Madison Square Garden (NYSE:MSGS) Price Target Raised to $435.00 at Seaport Research Partners

Madison Square Garden (NYSE:MSGS) had its price objective upped by equities researchers at Seaport Research Partners from $430.00 to $435.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Seaport Research Partners’ price objective suggests a potential upside of 18.30% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the stock. Guggenheim lifted their price objective on shares of Madison Square Garden from $401.00 to $422.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Susquehanna lifted their price objective on shares of Madison Square Garden from $388.00 to $404.00 and gave the company a “positive” rating in a research note on Thursday, May 14th. Wall Street Zen cut shares of Madison Square Garden from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings raised Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, March 27th. Finally, JPMorgan Chase & Co. raised their target price on Madison Square Garden from $240.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $342.20.

Madison Square Garden Price Performance

Shares of MSGS stock traded up $1.38 on Wednesday, hitting $367.72. 69,857 shares of the stock traded hands, compared to its average volume of 238,903. The company has a market capitalization of $8.85 billion, a PE ratio of -395.45 and a beta of 0.59. Madison Square Garden has a 1-year low of $186.00 and a 1-year high of $370.00. The company’s fifty day moving average is $331.90 and its 200 day moving average is $289.48.

Madison Square Garden (NYSE:MSGS) last issued its earnings results on Friday, May 8th. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of $0.56 by ($1.39). The business had revenue of $432.20 million during the quarter, compared to analysts’ expectations of $429.66 million. During the same quarter in the previous year, the company earned ($0.59) earnings per share. Madison Square Garden’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities research analysts expect that Madison Square Garden will post -0.5 EPS for the current year.

Institutional Investors Weigh In On Madison Square Garden

Institutional investors have recently made changes to their positions in the company. SJS Investment Consulting Inc. lifted its holdings in shares of Madison Square Garden by 488.2% during 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 stake in shares of Madison Square Garden during the 4th quarter valued at about $26,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Madison Square Garden by 67.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 122 shares of the company’s stock valued at $32,000 after buying an additional 49 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Madison Square Garden by 1,150.0% during the 4th quarter. Global Retirement Partners LLC now owns 125 shares of the company’s stock valued at $32,000 after buying an additional 115 shares during the last quarter. Finally, Accredited Wealth Management LLC lifted its holdings in shares of Madison Square Garden by 524.0% during the 3rd quarter. Accredited Wealth Management LLC now owns 156 shares of the company’s stock valued at $35,000 after buying an additional 131 shares during the last quarter. 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.