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

The Madison Square Garden Company (NYSE:MSGS) has earned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $471.20.

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley upgraded shares of Madison Square Garden from an “equal weight” rating to an “overweight” rating and set a $450.00 price objective on the stock in a report on Wednesday, July 15th. Guggenheim raised their target price on shares of Madison Square Garden from $522.00 to $584.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. JPMorgan Chase & Co. raised their price objective on shares of Madison Square Garden from $450.00 to $485.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Weiss Ratings upgraded shares of Madison Square Garden from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Finally, Susquehanna lifted their price objective on Madison Square Garden from $430.00 to $477.00 and gave the stock a “positive” rating in a research report on Friday, August 14th.

Madison Square Garden Trading Up 0.1%

Shares of MSGS stock opened at $404.34 on Friday. Madison Square Garden has a twelve month low of $207.90 and a twelve month high of $438.93. The stock has a market cap of $9.74 billion, a price-to-earnings ratio of 1,347.83 and a beta of 0.62. The company’s 50-day moving average price is $399.40 and its 200-day moving average price is $376.95.

Madison Square Garden (NYSE:MSGS) last posted its quarterly earnings data on Thursday, August 13th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.52. The firm had revenue of $278.75 million during the quarter, compared to analysts’ expectations of $227.67 million. Madison Square Garden had a net margin of 0.67% and a negative return on equity of 3.47%. The firm’s quarterly revenue was up 36.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.07) EPS. As a group, equities research analysts predict that Madison Square Garden will post -1.13 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MSGS. Versant Capital Management Inc boosted its holdings in Madison Square Garden by 2.6% in the second quarter. Versant Capital Management Inc now owns 1,214 shares of the company’s stock valued at $488,000 after purchasing an additional 31 shares during the last quarter. DGS Capital Management LLC boosted its stake in Madison Square Garden by 4.8% during the 1st quarter. DGS Capital Management LLC now owns 832 shares of the company’s stock valued at $267,000 after purchasing an additional 38 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Madison Square Garden by 35.0% during the first quarter. EverSource Wealth Advisors LLC now owns 162 shares of the company’s stock worth $52,000 after buying an additional 42 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Madison Square Garden by 67.1% in the fourth 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 in the last quarter. Finally, Kestra Advisory Services LLC raised its holdings in shares of Madison Square Garden by 7.2% during the first quarter. Kestra Advisory Services LLC now owns 789 shares of the company’s stock worth $253,000 after acquiring an additional 53 shares in the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

About Madison Square Garden

Madison Square Garden Sports Corp. (NYSE:MSGS) is a professional sports and entertainment company based in New York. Its principal assets are the New York Knicks of the National Basketball Association and the New York Rangers of the National Hockey League.

The company also owns and operates related sports properties, including the NBA G League’s Westchester Knicks, the American Hockey League’s Hartford Wolf Pack and the NBA 2K League’s Knicks Gaming. Its business activities include team operations, ticket sales, sponsorships, licensing, merchandise and other commercial rights associated with its sports franchises.

Madison Square Garden Sports primarily serves fans and commercial partners in the New York metropolitan area while its teams compete in national leagues with audiences throughout the United States and internationally.