MSG Knickerbockers (NYSE:MSGK) Downgraded by Zacks Research to “Strong Sell”

MSG Knickerbockers (NYSE:MSGK) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday, Zacks reports.

A number of other research firms have also recently commented on MSGK. Weiss Ratings initiated coverage on MSG Knickerbockers in a research note on Wednesday. They set a “hold (c)” rating on the stock. Guggenheim reduced their price target on MSG Knickerbockers from $584.00 to $445.00 and set a “buy” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, MSG Knickerbockers presently has a consensus rating of “Hold” and a consensus price target of $445.00.

MSG Knickerbockers Stock Down 1.8%

MSG Knickerbockers stock opened at $299.91 on Tuesday. MSG Knickerbockers has a 1-year low of $280.00 and a 1-year high of $306.98.

About MSG Knickerbockers

MSG Knickerbockers, Inc is the corporate entity associated with the New York Knicks, the National Basketball Association (NBA) franchise based at Madison Square Garden in New York City. The organization’s primary activities include operating and managing the professional basketball team, organizing games and related events, and developing commercial opportunities connected with the Knicks brand.

The Knicks generate business through ticket sales, premium seating, sponsorships, media and broadcasting arrangements, merchandising, licensing, and other fan-focused products and services.