The Madison Square Garden Company (NYSE:MSGS) Receives $261.33 Consensus Target Price from Analysts

The Madison Square Garden Company (NYSE:MSGS) has been given an average recommendation of “Hold” by the ten analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $261.3333.

Several equities research analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Madison Square Garden in a research report on Monday, December 29th. Zacks Research raised Madison Square Garden from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. JPMorgan Chase & Co. lifted their target price on Madison Square Garden from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. BTIG Research began coverage on Madison Square Garden in a research note on Tuesday, October 7th. They issued a “neutral” rating on the stock. Finally, Wolfe Research cut shares of Madison Square Garden from an “outperform” rating to a “hold” rating in a research note on Monday, December 15th.

Institutional Investors Weigh In On Madison Square Garden

Several institutional investors and hedge funds have recently added to or reduced their stakes in MSGS. Farther Finance Advisors LLC grew its holdings in shares of Madison Square Garden by 5,450.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 111 shares of the company’s stock valued at $25,000 after acquiring an additional 109 shares in the last quarter. Salomon & Ludwin LLC bought a new position in Madison Square Garden in the third quarter valued at approximately $27,000. Accredited Wealth Management LLC increased its position in shares of Madison Square Garden by 524.0% during the 3rd quarter. Accredited Wealth Management LLC now owns 156 shares of the company’s stock worth $35,000 after purchasing an additional 131 shares during the last quarter. Sound Income Strategies LLC bought a new stake in shares of Madison Square Garden during the 4th quarter worth approximately $45,000. Finally, Hantz Financial Services Inc. bought a new position in shares of Madison Square Garden in the third quarter valued at $80,000. 68.94% of the stock is owned by institutional investors.

Madison Square Garden Price Performance

NYSE MSGS opened at $283.88 on Friday. Madison Square Garden has a one year low of $173.26 and a one year high of $293.35. The firm has a market cap of $6.82 billion, a P/E ratio of -289.67 and a beta of 0.61. The stock’s 50-day moving average is $257.26 and its 200-day moving average is $227.85.

About Madison Square Garden

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.