The Madison Square Garden Company (NYSE:MSGS) Given Average Rating of "Moderate Buy" by Brokerages

The Madison Square Garden Company (NYSE:MSGS - Get Free Report) has received an average rating of "Moderate Buy" from the five analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $252.60.

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Madison Square Garden from $240.00 to $230.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Susquehanna began coverage on shares of Madison Square Garden in a research report on Monday, April 28th. They set a "positive" rating and a $254.00 target price on the stock. Macquarie boosted their price target on Madison Square Garden from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Tuesday, February 25th. Morgan Stanley reduced their price objective on Madison Square Garden from $235.00 to $215.00 and set an "equal weight" rating on the stock in a report on Monday, May 5th. Finally, Guggenheim reaffirmed a "buy" rating and set a $314.00 target price on shares of Madison Square Garden in a research report on Tuesday, May 6th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. grew its stake in Madison Square Garden by 1,854.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 498,607 shares of the company's stock valued at $112,526,000 after purchasing an additional 473,090 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Madison Square Garden by 523.2% in the 1st quarter. Victory Capital Management Inc. now owns 347,800 shares of the company's stock valued at $67,724,000 after buying an additional 291,989 shares in the last quarter. Norges Bank purchased a new position in shares of Madison Square Garden in the 4th quarter worth approximately $54,052,000. GAMMA Investing LLC grew its position in shares of Madison Square Garden by 14,886.7% in the 1st quarter. GAMMA Investing LLC now owns 137,278 shares of the company's stock worth $26,731,000 after buying an additional 136,362 shares during the last quarter. Finally, Wealthfront Advisers LLC bought a new position in shares of Madison Square Garden during the 4th quarter worth approximately $16,844,000. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

Madison Square Garden Trading Up 0.2%

Shares of MSGS stock traded up $0.37 on Friday, reaching $207.66. 270,149 shares of the company's stock were exchanged, compared to its average volume of 119,421. The company's fifty day simple moving average is $191.91 and its 200 day simple moving average is $202.53. Madison Square Garden has a 52 week low of $173.26 and a 52 week high of $237.99. The stock has a market capitalization of $4.99 billion, a PE ratio of 988.88 and a beta of 0.77.

Madison Square Garden (NYSE:MSGS - Get Free Report) last released its earnings results on Friday, May 2nd. The company reported ($0.59) earnings per share for the quarter, missing analysts' consensus estimates of $1.48 by ($2.07). The business had revenue of $424.20 million during the quarter, compared to analysts' expectations of $436.84 million. Madison Square Garden had a negative return on equity of 1.76% and a net margin of 0.45%. The business's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.57 EPS. As a group, sell-side analysts predict that Madison Square Garden will post 0.73 earnings per share for the current fiscal year.

About Madison Square Garden

Madison Square Garden Sports Corp. operates as a professional sports company in the United States. The company owns and operates a portfolio of assets that consists of the New York Knickerbockers of the National Basketball Association (NBA) and the New York Rangers of the National Hockey League. Its other professional franchises include development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.