The Madison Square Garden Company (NYSE:MSG) Receives Average Recommendation of “Hold” from Analysts

Shares of The Madison Square Garden Company (NYSE:MSG) have been given a consensus rating of “Hold” by the fourteen research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $207.88.

Several brokerages have issued reports on MSG. ValuEngine raised shares of The Madison Square Garden from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Citigroup Inc. lowered their price objective on shares of The Madison Square Garden from $102.00 to $93.00 and set a “buy” rating on the stock in a research report on Monday, May 8th. BTIG Research reissued a “buy” rating and set a $260.00 price objective (up from $240.00) on shares of The Madison Square Garden in a research report on Tuesday, July 25th. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $245.00 target price on shares of The Madison Square Garden in a report on Thursday, April 20th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $185.00 target price on shares of The Madison Square Garden in a report on Monday, May 15th.

A number of hedge funds have recently added to or reduced their stakes in the company. Princeton Alpha Management LP bought a new stake in The Madison Square Garden during the first quarter worth approximately $240,000. First Trust Advisors LP boosted its position in shares of The Madison Square Garden by 14.7% in the first quarter. First Trust Advisors LP now owns 16,279 shares of the company’s stock worth $3,251,000 after buying an additional 2,085 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of The Madison Square Garden by 1.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 25,276 shares of the company’s stock worth $5,048,000 after buying an additional 358 shares during the last quarter. ING Groep NV acquired a new position in shares of The Madison Square Garden during the first quarter worth about $8,133,000. Finally, Russell Investments Group Ltd. boosted its position in shares of The Madison Square Garden by 70.0% in the first quarter. Russell Investments Group Ltd. now owns 68,635 shares of the company’s stock worth $13,705,000 after buying an additional 28,273 shares during the last quarter. 85.22% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of The Madison Square Garden (MSG) traded up 0.29% during midday trading on Friday, hitting $215.66. 107,385 shares of the stock were exchanged. The stock has a 50 day moving average price of $206.33 and a 200-day moving average price of $195.86. The company’s market cap is $5.08 billion. The Madison Square Garden has a 12 month low of $160.96 and a 12 month high of $223.06.

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.

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

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