Brokerages Set The Madison Square Garden Company (NYSE:MSGS) PT at $286.00

The Madison Square Garden Company (NYSE:MSGS) has been assigned a consensus recommendation of “Hold” from the nine analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $286.00.

A number of research firms have issued reports on MSGS. Wall Street Zen raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a research note on Saturday, February 14th. Wolfe Research cut Madison Square Garden from an “outperform” rating to a “hold” rating in a research note on Monday, December 15th. Guggenheim restated a “buy” rating on shares of Madison Square Garden in a report on Thursday, February 5th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Madison Square Garden in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Madison Square Garden from $240.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, February 6th.

Insider Activity

In other Madison Square Garden news, Director Charles P. Dolan sold 5,659 shares of Madison Square Garden stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $325.26, for a total value of $1,840,646.34. Following the sale, the director owned 435 shares of the company’s stock, valued at $141,488.10. This trade represents a 92.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 19.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Madison Square Garden

Hedge funds and other institutional investors have recently bought and sold shares of the company. DGS Capital Management LLC acquired a new position in Madison Square Garden during the 4th quarter worth approximately $205,000. Kera Capital Partners Inc. acquired a new stake in shares of Madison Square Garden in the fourth quarter valued at approximately $230,000. T. Rowe Price Investment Management Inc. lifted its position in shares of Madison Square Garden by 8.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 648,515 shares of the company’s stock worth $167,739,000 after purchasing an additional 49,412 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in Madison Square Garden by 791.3% during the fourth quarter. Corient Private Wealth LLC now owns 8,949 shares of the company’s stock worth $2,315,000 after purchasing an additional 7,945 shares during the last quarter. Finally, Grand Central Investment Group bought a new position in Madison Square Garden in the fourth quarter valued at $1,927,000. Institutional investors and hedge funds own 68.94% of the company’s stock.

Madison Square Garden Stock Performance

Shares of NYSE MSGS opened at $328.37 on Thursday. Madison Square Garden has a 52-week low of $173.26 and a 52-week high of $345.46. The stock has a market cap of $7.90 billion, a P/E ratio of -475.89 and a beta of 0.61. The firm has a 50 day moving average price of $284.28 and a 200 day moving average price of $241.41.

Madison Square Garden (NYSE:MSGS) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). The firm had revenue of $403.42 million for the quarter, compared to the consensus estimate of $394.58 million. During the same quarter last year, the company posted $0.05 earnings per share. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. Analysts predict that Madison Square Garden will post 0.73 earnings per share for the current fiscal year.

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.