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

Madison Square Garden (NYSE:MSGS) had its price target raised by equities researchers at Seaport Research Partners from $430.00 to $435.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Seaport Research Partners’ price target points to a potential upside of 18.30% from the stock’s current price.

A number of other brokerages also recently weighed in on MSGS. JPMorgan Chase & Co. raised their price objective 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. Weiss Ratings raised Madison Square Garden from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, March 27th. Wall Street Zen downgraded Madison Square Garden from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Guggenheim lifted their price target on Madison Square Garden from $401.00 to $422.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, Citigroup lifted their price target on Madison Square Garden from $355.00 to $360.00 and gave the stock a “neutral” rating in a research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $342.20.

Madison Square Garden Price Performance

Shares of MSGS stock traded up $1.38 during trading on Wednesday, reaching $367.72. The company had a trading volume of 69,857 shares, compared to its average volume of 238,903. The firm’s 50 day simple moving average is $331.90 and its two-hundred day simple moving average is $289.48. Madison Square Garden has a one year low of $186.00 and a one year high of $370.00. 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 (NYSE:MSGS) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($1.39). The company had revenue of $432.20 million during the quarter, compared to analyst estimates of $429.66 million. During the same quarter last year, the firm earned ($0.59) earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Analysts forecast that Madison Square Garden will post -0.5 earnings per share for the current year.

Institutional Trading of Madison Square Garden

A number of institutional investors and hedge funds have recently modified their holdings of the company. DGS Capital Management LLC increased its position in shares of Madison Square Garden by 4.8% during the first quarter. DGS Capital Management LLC now owns 832 shares of the company’s stock valued at $267,000 after purchasing an additional 38 shares during the period. Salomon & Ludwin LLC grew its position in Madison Square Garden by 33.1% in the fourth quarter. Salomon & Ludwin LLC now owns 157 shares of the company’s stock valued at $40,000 after acquiring an additional 39 shares during the period. Allworth Financial LP grew its position in Madison Square Garden by 26.5% in the fourth quarter. Allworth Financial LP now owns 196 shares of the company’s stock valued at $51,000 after acquiring an additional 41 shares during the period. EverSource Wealth Advisors LLC grew its position in Madison Square Garden by 35.0% in the first quarter. EverSource Wealth Advisors LLC now owns 162 shares of the company’s stock valued at $52,000 after acquiring an additional 42 shares during the period. Finally, Cibc World Market Inc. grew its position in Madison Square Garden by 2.3% in the fourth quarter. Cibc World Market Inc. now owns 1,924 shares of the company’s stock valued at $498,000 after acquiring an additional 43 shares during the period. 68.94% of the stock is currently owned by 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.