Madison Square Garden Co (NYSE:MSG) has earned a consensus recommendation of “Hold” from the thirteen research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $209.71.
A number of brokerages recently issued reports on MSG. Jefferies Group LLC boosted their price objective on shares of Madison Square Garden from $185.00 to $200.00 and gave the company a “hold” rating in a report on Friday, August 18th. ValuEngine upgraded shares of Madison Square Garden from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded shares of Madison Square Garden from a “hold” rating to a “strong-buy” rating and set a $224.00 price objective for the company in a report on Saturday, July 15th. Citigroup Inc. decreased their price objective on shares of Madison Square Garden from $102.00 to $93.00 and set a “buy” rating for the company in a report on Monday, May 15th. Finally, Morgan Stanley restated an “overweight” rating and set a $245.00 price objective (up previously from $215.00) on shares of Madison Square Garden in a report on Tuesday, July 25th.
Institutional investors and hedge funds have recently made changes to their positions in the business. Quinn Opportunity Partners LLC lifted its stake in Madison Square Garden by 119.3% in the second quarter. Quinn Opportunity Partners LLC now owns 17,540 shares of the company’s stock valued at $3,454,000 after buying an additional 9,540 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Madison Square Garden by 268.4% in the first quarter. Goldman Sachs Group Inc. now owns 118,256 shares of the company’s stock valued at $23,617,000 after buying an additional 86,155 shares in the last quarter. First Trust Advisors LP lifted its stake in Madison Square Garden by 77.2% in the second quarter. First Trust Advisors LP now owns 28,852 shares of the company’s stock valued at $5,681,000 after buying an additional 12,573 shares in the last quarter. BlackRock Inc. lifted its stake in Madison Square Garden by 13,915.4% in the first quarter. BlackRock Inc. now owns 767,202 shares of the company’s stock valued at $153,216,000 after buying an additional 761,728 shares in the last quarter. Finally, Parametrica Management Ltd bought a new position in Madison Square Garden in the second quarter valued at approximately $332,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Madison Square Garden (NYSE:MSG) traded down 0.22% during midday trading on Wednesday, hitting $220.01. 189,381 shares of the company traded hands. Madison Square Garden has a 12-month low of $160.96 and a 12-month high of $226.95. The stock’s market capitalization is $5.18 billion. The stock’s 50-day moving average is $215.64 and its 200 day moving average is $201.38.
Madison Square Garden (NYSE:MSG) last issued its quarterly earnings results on Thursday, August 17th. The company reported ($3.58) EPS for the quarter, missing the consensus estimate of ($1.10) by $2.48. The business had revenue of $305.60 million for the quarter, compared to analyst estimates of $279.19 million. Madison Square Garden had a negative return on equity of 13.80% and a negative net margin of 28.62%. The firm’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.39) EPS. On average, analysts expect that Madison Square Garden will post $0.71 earnings per share for the current year.
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About Madison Square Garden
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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