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

Madison Square Garden (NYSE:MSGS) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “hold” rating in a report released on Saturday.

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

Madison Square Garden Trading Up 4.8%

MSGS stock opened at $291.51 on Friday. The stock has a market cap of $7.02 billion, a P/E ratio of -422.48 and a beta of 0.61. The stock’s fifty day simple moving average is $266.20 and its two-hundred day simple moving average is $232.22. 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 released its earnings results on Thursday, February 5th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). The firm had revenue of $403.42 million during the quarter, compared to the consensus estimate of $394.58 million. Madison Square Garden’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 EPS. As a group, analysts forecast that Madison Square Garden will post 0.73 earnings per share for the current fiscal year.

Institutional Trading of Madison Square Garden

Several institutional investors and hedge funds have recently bought and sold shares of the company. Kestra Advisory Services LLC purchased a new position in shares of Madison Square Garden during the 4th quarter valued at $190,000. Marshall Wace LLP grew its position in Madison Square Garden by 366.0% during the fourth quarter. Marshall Wace LLP now owns 35,944 shares of the company’s stock worth $9,297,000 after buying an additional 28,231 shares in the last quarter. Quinn Opportunity Partners LLC bought a new position in Madison Square Garden in the 4th quarter worth about $517,000. CANADA LIFE ASSURANCE Co raised its holdings in shares of Madison Square Garden by 3.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 15,555 shares of the company’s stock valued at $4,023,000 after acquiring an additional 497 shares in the last quarter. Finally, Fayez Sarofim & Co purchased a new stake in shares of Madison Square Garden in the 4th quarter valued at about $213,000. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

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.