Shares of The Madison Square Garden Company (NYSE:MSGS – Get Free Report) reached a new 52-week high on Monday . The company traded as high as $398.16 and last traded at $398.8720, with a volume of 44135 shares changing hands. The stock had previously closed at $392.98.
Analyst Ratings Changes
Several brokerages have issued reports on MSGS. Guggenheim raised their target price on Madison Square Garden from $422.00 to $470.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. 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. Susquehanna raised their price objective on shares of Madison Square Garden from $429.00 to $430.00 and gave the stock a “positive” rating in a report on Tuesday, June 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Madison Square Garden in a research report on Wednesday, June 24th. Finally, Citigroup upped their target price on shares of Madison Square Garden from $355.00 to $360.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $357.00.
View Our Latest Report on Madison Square Garden
Madison Square Garden Stock Down 0.3%
Madison Square Garden (NYSE:MSGS – Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $432.20 million for the quarter, compared to analysts’ expectations of $429.66 million. Madison Square Garden’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.59) earnings per share. As a group, analysts anticipate that The Madison Square Garden Company will post -0.5 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Madison Square Garden
A number of institutional investors have recently bought and sold shares of MSGS. SJS Investment Consulting Inc. lifted its position in shares of Madison Square Garden by 488.2% in the first quarter. SJS Investment Consulting Inc. now owns 100 shares of the company’s stock valued at $32,000 after acquiring an additional 83 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Madison Square Garden during the fourth quarter worth about $26,000. Caitong International Asset Management Co. Ltd raised its stake in 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 purchasing an additional 49 shares during the period. Global Retirement Partners LLC raised its stake in 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 purchasing an additional 115 shares during the period. Finally, Salomon & Ludwin LLC lifted its holdings in Madison Square Garden by 33.1% in the 4th quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock worth $40,000 after purchasing an additional 39 shares in the last quarter. 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.
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