The Madison Square Garden Company (MSGS) – What Are Analysts Thinking About This Stock?

The Madison Square Garden Company (NYSE:MSGS – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $471.20.

Several brokerages have recently commented on MSGS. Guggenheim increased their price target on shares of Madison Square Garden from $522.00 to $584.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Morgan Stanley upgraded Madison Square Garden from an “equal weight” rating to an “overweight” rating and set a $450.00 price target for the company in a report on Wednesday, July 15th. Wall Street Zen raised shares of Madison Square Garden from a “sell” rating to a “hold” rating in a report on Sunday, August 23rd. JPMorgan Chase & Co. raised their price target on shares of Madison Square Garden from $450.00 to $485.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Finally, Susquehanna lifted their price target on shares of Madison Square Garden from $430.00 to $477.00 and gave the company a “positive” rating in a report on Friday, August 14th.

Check Out Our Latest Stock Report on MSGS

Institutional Trading of Madison Square Garden

Hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its position in Madison Square Garden by 45.9% in the first quarter. Renaissance Technologies LLC now owns 172,000 shares of the company’s stock worth $55,281,000 after buying an additional 54,100 shares during the period. Southpoint Capital Advisors LP boosted its holdings in shares of Madison Square Garden by 3.3% during the first quarter. Southpoint Capital Advisors LP now owns 155,000 shares of the company’s stock valued at $49,817,000 after acquiring an additional 5,000 shares during the period. Pinnacle Associates Ltd. boosted its holdings in shares of Madison Square Garden by 2.6% during the third quarter. Pinnacle Associates Ltd. now owns 86,215 shares of the company’s stock valued at $34,935,000 after acquiring an additional 2,177 shares during the period. Quantinno Capital Management LP grew its position in shares of Madison Square Garden by 76.5% during the first quarter. Quantinno Capital Management LP now owns 104,312 shares of the company’s stock worth $33,526,000 after acquiring an additional 45,223 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Madison Square Garden by 2.1% during the first quarter. Principal Financial Group Inc. now owns 87,058 shares of the company’s stock worth $27,980,000 after acquiring an additional 1,755 shares during the last quarter. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Price Performance

The company has a 50 day moving average of $396.32 and a 200 day moving average of $361.33. The stock has a market capitalization of $9.32 billion, a price-to-earnings ratio of 1,290.87 and a beta of 0.62. Madison Square Garden has a one year low of $207.90 and a one year high of $438.93.

Madison Square Garden (NYSE:MSGS – Get Free Report) last posted its quarterly earnings results on Friday, November 6th. The company reported ($1.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($0.20). The company had revenue of $45.49 million during the quarter, compared to analyst estimates of $40.67 million. Madison Square Garden had a net margin of 0.67% and a negative return on equity of 3.47%. As a group, sell-side analysts predict that Madison Square Garden will post -1.13 earnings per share for the current year.

Madison Square Garden Company Profile

(Get Free Report)

Madison Square Garden Sports Corp. is a professional sports company that owns and operates the New York Knicks of the National Basketball Association and the New York Rangers of the National Hockey League. Its teams also include the Westchester Knicks of the NBA G League and the Hartford Wolf Pack of the American Hockey League.

The company’s activities include managing team operations and developing revenue through media rights, sponsorships, ticketing and team-related merchandise. Its teams are based in the New York metropolitan region, with a fan base and commercial reach that extend beyond the area.

Madison Square Garden Sports became an independent, publicly traded company in 2020, when The Madison Square Garden Company separated its sports operations from its entertainment and venue businesses.

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Analyst Recommendations for Madison Square Garden (NYSE:MSGS)

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