The Madison Square Garden Company (MSG) Given Overweight Rating at Morgan Stanley

The Madison Square Garden Company (NYSE:MSG)‘s stock had its “overweight” rating restated by Morgan Stanley in a note issued to investors on Tuesday, July 25th. They currently have a $245.00 price objective on the stock, up from their previous price objective of $215.00. Morgan Stanley’s price target points to a potential upside of 13.60% from the stock’s previous close.

Several other research firms also recently weighed in on MSG. BTIG Research reissued a “buy” rating and issued a $260.00 price target (up from $240.00) on shares of The Madison Square Garden in a research note on Tuesday, July 25th. Bank of America Corporation began coverage on shares of The Madison Square Garden in a research note on Tuesday, May 2nd. They issued a “buy” rating and a $243.00 price target on the stock. Zacks Investment Research raised shares of The Madison Square Garden from a “hold” rating to a “buy” rating and set a $229.00 price target on the stock in a research note on Tuesday, April 11th. Citigroup Inc. decreased their price target on shares of The Madison Square Garden from $102.00 to $93.00 and set a “buy” rating on the stock in a research note on Monday, May 15th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $185.00 price target on shares of The Madison Square Garden in a research note on Monday, May 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $204.91.

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

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A number of institutional investors have recently modified their holdings of MSG. Renaissance Technologies LLC increased its position in shares of The Madison Square Garden by 100.0% in the second quarter. Renaissance Technologies LLC now owns 227,800 shares of the company’s stock worth $44,854,000 after buying an additional 113,900 shares during the period. Nordea Investment Management AB increased its position in shares of The Madison Square Garden by 13.2% in the second quarter. Nordea Investment Management AB now owns 118,239 shares of the company’s stock worth $23,281,000 after buying an additional 13,770 shares during the period. Quantbot Technologies LP increased its position in shares of The Madison Square Garden by 79.2% in the second quarter. Quantbot Technologies LP now owns 2,892 shares of the company’s stock worth $569,000 after buying an additional 1,278 shares during the period. California Public Employees Retirement System increased its position in shares of The Madison Square Garden by 2.2% in the second quarter. California Public Employees Retirement System now owns 41,166 shares of the company’s stock worth $8,106,000 after buying an additional 900 shares during the period. Finally, FMR LLC increased its position in shares of The Madison Square Garden by 12.6% in the second quarter. FMR LLC now owns 360,804 shares of the company’s stock worth $71,042,000 after buying an additional 40,427 shares during the period. 85.22% of the stock is currently owned by institutional investors.

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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