Guggenheim Issues Positive Forecast for Madison Square Garden (NYSE:MSGS) Stock Price

Madison Square Garden (NYSE:MSGS) had its price objective upped by Guggenheim from $522.00 to $584.00 in a report issued on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also issued reports on MSGS. Susquehanna raised their price target on Madison Square Garden from $429.00 to $430.00 and gave the stock a “positive” rating in a research report on Tuesday, June 23rd. Wall Street Zen upgraded Madison Square Garden from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Seaport Research Partners increased their price objective on Madison Square Garden from $430.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. Weiss Ratings restated a “hold (c-)” rating on shares of Madison Square Garden in a report on Wednesday, June 24th. Finally, Zacks Research downgraded shares of Madison Square Garden from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 16th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $471.20.

Madison Square Garden Trading Down 1.5%

Shares of NYSE:MSGS opened at $406.63 on Friday. The stock has a market capitalization of $9.79 billion, a P/E ratio of 1,355.48 and a beta of 0.62. The stock’s 50-day moving average price is $389.78 and its 200-day moving average price is $347.55. Madison Square Garden has a 12-month low of $191.33 and a 12-month high of $438.93.

Institutional Investors Weigh In On Madison Square Garden

A number of large investors have recently made changes to their positions in the business. Amundi raised its holdings in shares of Madison Square Garden by 4.7% during the first quarter. Amundi now owns 5,643 shares of the company’s stock valued at $1,091,000 after acquiring an additional 252 shares in the last quarter. Millennium Management LLC boosted its holdings in Madison Square Garden by 8.0% in the first quarter. Millennium Management LLC now owns 27,147 shares of the company’s stock valued at $5,286,000 after acquiring an additional 2,006 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Madison Square Garden by 28.2% in the first quarter. Goldman Sachs Group Inc. now owns 24,807 shares of the company’s stock valued at $4,830,000 after acquiring an additional 5,452 shares in the last quarter. United Services Automobile Association purchased a new position in Madison Square Garden during the 1st quarter valued at $210,000. Finally, Empowered Funds LLC increased its position in Madison Square Garden by 10.8% during the 1st quarter. Empowered Funds LLC now owns 2,055 shares of the company’s stock valued at $400,000 after purchasing an additional 200 shares during the period. 68.94% of the stock is currently owned by institutional investors.

Madison Square Garden News Summary

Here are the key news stories impacting Madison Square Garden this week:

• Positive Sentiment: Spin-off advances: MSG Sports publicly filed a Form 10 registration statement for the proposed separation of its New York Rangers business from its New York Knicks business. The transaction is intended to create two separately traded companies, potentially making each business easier to value and giving investors greater strategic flexibility. MSG Sports Form 10 Registration Statement
• Positive Sentiment: Analysts raised targets: Guggenheim increased its target to $584 and reiterated a “buy” rating, while JPMorgan raised its target to $485 with an “overweight” rating and Susquehanna lifted its target to $477 with a “positive” rating. The revisions indicate improving expectations for MSGS’s earnings and asset value. Analyst price-target revisions
• Positive Sentiment: Quarterly results beat expectations: Fiscal fourth-quarter earnings were approximately $1.16–$1.19 per share, versus consensus estimates ranging from $0.64 to $0.72, while revenue reached $278.75 million, up 36.6% year over year and well above the $227.67 million estimate. The earnings improvement was linked in part to the Knicks’ championship-related boost. MSG Sports beats fourth-quarter estimates
• Neutral Sentiment: Strong sports performance is helping near-term results: Coverage highlighted the Knicks’ success as a major contributor to the quarterly beat and recent stock momentum. However, championship-related revenue and enthusiasm may be difficult to repeat at the same level in future periods. Knicks power MSG Sports toward fourth win in five sessions
• Negative Sentiment: Valuation concerns remain: Commentary argued that the Knicks’ championship-driven earnings beat does not necessarily establish a durable investment case, suggesting investors may be cautious about one-time benefits and the stock’s elevated valuation. Knicks’ win does not support an investment case

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.