Madison Square Garden (NYSE:MSGS) Price Target Raised to $477.00 at Susquehanna

Madison Square Garden (NYSE:MSGS) had its target price increased by Susquehanna from $430.00 to $477.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a positive rating on the stock.

A number of other research firms also recently issued reports on MSGS. Guggenheim raised their price objective on shares of Madison Square Garden from $522.00 to $584.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley upgraded shares of Madison Square Garden from an “equal weight” rating to an “overweight” rating and set a $450.00 target price on the stock in a research note on Wednesday, July 15th. Citigroup increased their target price on shares of Madison Square Garden from $355.00 to $360.00 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. Seaport Research Partners raised their price target on shares of Madison Square Garden from $430.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Finally, Zacks Research cut shares of Madison Square Garden from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Madison Square Garden presently has an average rating of “Hold” and a consensus price target of $471.20.

Madison Square Garden Price Performance

NYSE MSGS opened at $406.63 on Friday. The stock has a market capitalization of $9.79 billion, a price-to-earnings ratio of 1,355.48 and a beta of 0.62. Madison Square Garden has a one year low of $191.33 and a one year high of $438.93. The business’s fifty day moving average is $389.78 and its 200-day moving average is $347.55.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in Madison Square Garden by 67.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 699,378 shares of the company’s stock valued at $180,895,000 after buying an additional 282,318 shares in the last quarter. Reinhart Partners LLC. bought a new position in shares of Madison Square Garden in the fourth quarter worth $55,586,000. Norges Bank bought a new position in shares of Madison Square Garden in the fourth quarter worth $51,107,000. TOMS Capital Investment Management LP grew its position in shares of Madison Square Garden by 82.7% in the fourth quarter. TOMS Capital Investment Management LP now owns 329,705 shares of the company’s stock valued at $85,278,000 after purchasing an additional 149,205 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Madison Square Garden by 182.0% in the fourth quarter. Millennium Management LLC now owns 131,123 shares of the company’s stock valued at $33,915,000 after purchasing an additional 84,628 shares in the last quarter. 68.94% of the stock is owned by institutional investors.

More Madison Square Garden News

Here are the key news stories impacting Madison Square Garden this week:

• Positive Sentiment: Spin-off advances: MSG Sports publicly filed a Form 10 registration statement for the proposed separation of its New York Rangers business from its New York Knicks business. The transaction is intended to create two separately traded companies, potentially making each business easier to value and giving investors greater strategic flexibility. MSG Sports Form 10 Registration Statement
• Positive Sentiment: Analysts raised targets: Guggenheim increased its target to $584 and reiterated a “buy” rating, while JPMorgan raised its target to $485 with an “overweight” rating and Susquehanna lifted its target to $477 with a “positive” rating. The revisions indicate improving expectations for MSGS’s earnings and asset value. Analyst price-target revisions
• Positive Sentiment: Quarterly results beat expectations: Fiscal fourth-quarter earnings were approximately $1.16–$1.19 per share, versus consensus estimates ranging from $0.64 to $0.72, while revenue reached $278.75 million, up 36.6% year over year and well above the $227.67 million estimate. The earnings improvement was linked in part to the Knicks’ championship-related boost. MSG Sports beats fourth-quarter estimates
• Neutral Sentiment: Strong sports performance is helping near-term results: Coverage highlighted the Knicks’ success as a major contributor to the quarterly beat and recent stock momentum. However, championship-related revenue and enthusiasm may be difficult to repeat at the same level in future periods. Knicks power MSG Sports toward fourth win in five sessions
• Negative Sentiment: Valuation concerns remain: Commentary argued that the Knicks’ championship-driven earnings beat does not necessarily establish a durable investment case, suggesting investors may be cautious about one-time benefits and the stock’s elevated valuation. Knicks’ win does not support an investment case

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.