Zacks Investment Research lowered shares of The Madison Square Garden Company (NYSE:MSG) from a hold rating to a sell rating in a research report report published on Thursday morning.

According to Zacks, “The Madison Square Garden Company is involved in the sports, entertainment and media industries. The company’s business segment consists of MSG Sports, MSG Media and MSG Entertainment. MSG Sports is involved in live sporting events. MSG Sports owns and operates sports franchises include the New York Knicks, the New York Rangers, the New York Liberty, the Westchester Knicks and the Hartford Wolf Pack. MSG Media is involved in production and content development for multiple distribution platforms. MSG Entertainment creates, produces and presents live productions, hosts live entertainment events. The Madison Square Garden Company is based in New York, United States. “

Several other research firms also recently commented on MSG. Jefferies Group LLC reissued a hold rating and issued a $200.00 target price on shares of The Madison Square Garden in a report on Tuesday, October 24th. Morgan Stanley reissued an overweight rating and issued a $245.00 target price (up from $215.00) on shares of The Madison Square Garden in a report on Tuesday, July 25th. Loop Capital boosted their target price on The Madison Square Garden from $266.00 to $268.00 and gave the stock a buy rating in a report on Monday, November 6th. Finally, BTIG Research reissued a buy rating and issued a $260.00 target price (up from $240.00) on shares of The Madison Square Garden in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The Madison Square Garden has an average rating of Buy and an average price target of $217.78.

The Madison Square Garden (NYSE:MSG) traded down $0.06 during trading on Thursday, reaching $229.63. The company’s stock had a trading volume of 96,000 shares, compared to its average volume of 236,784. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.90 and a current ratio of 1.92. The Madison Square Garden has a twelve month low of $166.86 and a twelve month high of $231.44.

The Madison Square Garden (NYSE:MSG) last released its earnings results on Friday, November 3rd. The company reported ($0.47) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.65) by $0.18. The Madison Square Garden had a negative return on equity of 1.75% and a negative net margin of 4.00%. The business had revenue of $245.04 million for the quarter, compared to the consensus estimate of $237.06 million. During the same period in the previous year, the company posted ($1.19) earnings per share. The company’s revenue for the quarter was up 34.9% compared to the same quarter last year. research analysts predict that The Madison Square Garden will post 0.66 EPS for the current year.

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Several large investors have recently made changes to their positions in MSG. Principal Financial Group Inc. bought a new position in shares of The Madison Square Garden during the first quarter valued at $576,000. Legal & General Group Plc lifted its holdings in shares of The Madison Square Garden by 182.1% during the first quarter. Legal & General Group Plc now owns 6,581 shares of the company’s stock valued at $1,314,000 after purchasing an additional 4,248 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of The Madison Square Garden by 13,915.4% during the first quarter. BlackRock Inc. now owns 767,202 shares of the company’s stock valued at $153,216,000 after purchasing an additional 761,728 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of The Madison Square Garden by 5.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 63,593 shares of the company’s stock valued at $12,701,000 after purchasing an additional 3,121 shares in the last quarter. Finally, State Street Corp lifted its holdings in The Madison Square Garden by 2.0% in the first quarter. State Street Corp now owns 246,540 shares of the company’s stock valued at $49,243,000 after acquiring an additional 4,931 shares during the period. 70.96% of the stock is currently owned by hedge funds and other institutional investors.

The Madison Square Garden Company Profile

The Madison Square Garden Company is a holding company, which is engaged in live experiences consisting of celebrated venues, sports teams, and entertainment productions. The Company operates in two segments, which include MSG Entertainment and MSG Sports. The MSG Sports segment includes the Company’s professional sports franchises, which include the New York Knicks (the Knicks) of the National Basketball Association (the NBA), the New York Rangers (the Rangers) of the National Hockey League (the NHL), the New York Liberty (the Liberty) of the Women’s National Basketball Association (the WNBA), the Hartford Wolf Pack of the American Hockey League (the AHL), which is the primary player development team for the Rangers, and the Westchester Knicks, an NBA Development League team.

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Analyst Recommendations for The Madison Square Garden (NYSE:MSG)

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