The Madison Square Garden Co. (NYSE:MSG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm presently has a $185.00 price target on the stock. Zacks Investment Research’s price target points to a potential upside of 14.61% from the stock’s current price.

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. “

A number of other brokerages have also commented on MSG. Loop Capital reissued a “buy” rating and issued a $217.00 price objective on shares of The Madison Square Garden in a research report on Tuesday, August 16th. Jefferies Group lowered shares of The Madison Square Garden from a “buy” rating to a “hold” rating and set a $185.00 price objective on the stock. in a research report on Monday, August 22nd. They noted that the move was a valuation call. Stifel Nicolaus boosted their price objective on shares of The Madison Square Garden from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, August 22nd. Finally, Albert Fried & Company cut their price objective on shares of The Madison Square Garden from $170.00 to $150.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The Madison Square Garden has a consensus rating of “Hold” and a consensus price target of $159.86.

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

The Madison Square Garden (NYSE:MSG) opened at 161.42 on Friday. The company’s market capitalization is $3.89 billion. The stock’s 50 day moving average is $172.55 and its 200-day moving average is $171.12. The Madison Square Garden has a 12-month low of $139.10 and a 12-month high of $188.80.

The Madison Square Garden (NYSE:MSG) last announced its quarterly earnings data on Friday, August 19th. The company reported ($2.39) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.00) by $1.39. The business earned $217.80 million during the quarter. The Madison Square Garden had a negative return on equity of 4.58% and a negative net margin of 6.93%. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. On average, equities analysts predict that The Madison Square Garden will post ($0.38) earnings per share for the current fiscal year.

In related news, insider Kathleen Margaret Dolan acquired 15,954 shares of the firm’s stock in a transaction on Monday, September 12th. The shares were purchased at an average cost of $182.96 per share, for a total transaction of $2,918,943.84. Following the completion of the acquisition, the insider now directly owns 1,568 shares in the company, valued at $286,881.28. The purchase was disclosed in a filing with the SEC, which is available at this link. 19.61% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in MSG. Point72 Asia Hong Kong Ltd acquired a new position in The Madison Square Garden during the second quarter valued at approximately $104,000. Seven Eight Capital LLC increased its position in The Madison Square Garden by 44.7% in the first quarter. Seven Eight Capital LLC now owns 647 shares of the company’s stock valued at $108,000 after buying an additional 200 shares during the period. Citizens Financial Group Inc RI increased its position in The Madison Square Garden by 1.7% in the first quarter. Citizens Financial Group Inc RI now owns 938 shares of the company’s stock valued at $156,000 after buying an additional 16 shares during the period. State of Alaska Department of Revenue acquired a new position in The Madison Square Garden during the second quarter valued at approximately $177,000. Finally, Advisor Group Inc. acquired a new position in The Madison Square Garden during the second quarter valued at approximately $206,000. Hedge funds and other institutional investors own 88.44% of the company’s stock.

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.

5 Day Chart for NYSE:MSG

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