The Madison Square Garden Company (MSG) Given “Hold” Rating at Jefferies Group LLC

The Madison Square Garden Company (NYSE:MSG)‘s stock had its “hold” rating reissued by research analysts at Jefferies Group LLC in a report issued on Monday, May 15th, StockTargetPrices.com reports. They presently have a $185.00 price target on the stock. Jefferies Group LLC’s target price points to a potential downside of 5.24% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of The Madison Square Garden Company from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. Citigroup Inc. reduced their price target on shares of The Madison Square Garden Company from $102.00 to $93.00 and set a “buy” rating on the stock in a research report on Monday, May 8th. Bank of America Corporation initiated coverage on shares of The Madison Square Garden Company in a research report on Tuesday, May 2nd. They set a “buy” rating and a $243.00 price target on the stock. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $245.00 price target on shares of The Madison Square Garden Company in a research report on Thursday, April 20th. Finally, Macquarie reaffirmed a “hold” rating and set a $182.00 price target on shares of The Madison Square Garden Company in a research report on Monday, February 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $196.40.

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

The Madison Square Garden Company (NYSE MSG) traded down 0.10% during mid-day trading on Monday, hitting $195.24. 241,299 shares of the stock traded hands. The Madison Square Garden Company has a 12 month low of $160.96 and a 12 month high of $206.60. The stock’s market cap is $4.60 billion. The stock has a 50-day moving average price of $197.66 and a 200-day moving average price of $187.20.

The Madison Square Garden Company (NYSE:MSG) last released its earnings results on Thursday, May 4th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by $0.33. The Madison Square Garden Company had a negative net margin of 3.81% and a negative return on equity of 1.57%. The company had revenue of $386 million during the quarter, compared to analysts’ expectations of $365.57 million. During the same quarter in the previous year, the firm posted ($2.47) earnings per share. The Madison Square Garden Company’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities analysts forecast that The Madison Square Garden Company will post ($0.56) earnings per share for the current year.

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A number of hedge funds have recently bought and sold shares of MSG. Nordea Investment Management AB boosted its stake in The Madison Square Garden Company by 1.8% in the third quarter. Nordea Investment Management AB now owns 80,279 shares of the company’s stock valued at $13,600,000 after buying an additional 1,390 shares in the last quarter. US Bancorp DE boosted its stake in The Madison Square Garden Company by 8.7% in the third quarter. US Bancorp DE now owns 837 shares of the company’s stock valued at $142,000 after buying an additional 67 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in The Madison Square Garden Company by 10.6% in the third quarter. First Eagle Investment Management LLC now owns 1,030,277 shares of the company’s stock valued at $174,539,000 after buying an additional 99,071 shares in the last quarter. BlackRock Inc. boosted its stake in The Madison Square Garden Company by 27.7% in the third quarter. BlackRock Inc. now owns 7,472 shares of the company’s stock valued at $1,266,000 after buying an additional 1,623 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its stake in The Madison Square Garden Company by 3.2% in the third quarter. BlackRock Fund Advisors now owns 187,916 shares of the company’s stock valued at $31,835,000 after buying an additional 5,759 shares in the last quarter. 85.21% of the stock is currently owned by hedge funds and other institutional investors.

About The Madison Square Garden Company

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.

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