Why Has Guggenheim Given Madison Square Garden Co (NYSE:MSG) a $190.00 Price Target
Guggenheim has just issued a “Buy” rating for Madison Square Garden Co (NYSE:MSG) shares. The firm launched coverage on shares of MSG in a comprehensive report issued to investors and clients on Friday, 11 December. This price target may mean upside of 17.78% from the stock price of Madison Square Garden Co (NYSE:MSG).
From a total of 10 analysts covering The Madison Square Garden (NYSE:MSG) stock, 7 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 70% of the ratings are positive. The highest target price is $240 while the lowest target price is $169. The mean of all analyst targets is $201 with a -23.39% below today’s ($159.24) stock price. The Madison Square Garden was the topic of 8 analyst reports since August 21, 2015 according to the firm StockzIntelligence Inc. Albert Fried downgraded shares on November 3 to “Market Perform” rating. Albert Fried maintained shares with “Overweight” rating and $100 target share price in a report from an August 26. JP Morgan initiated MSG stock in a recent report from October 1 with “Overweight” rating. Finally, Stifel Nicolaus upgraded the stock to “Buy” rating in a report issued on a September 30.
Approximately 125,521 shares of stock traded hands. Madison Square Garden Co (NYSE:MSG) has risen 6.00% since November 11, 2015 and is uptrending. It has outperformed by 9.02% the S&P500.
The overall sentiment of institutions has decreased to 0.54 in Q2 2015. Its down 0.95, from 1.49 in 2015Q2. The ratio turned negative, as 103 institutions have sold all the shares of Madison Square Garden Co that they owned while 44 funds have taken shares off the table. 21 funds have purchased shares for the first time while 59 added to their positions. These institutions now hold 37.19 million shares or 34.61% less than the 56.87 million shares they owned in 2015Q2.
The Fund Mason Capital Management Llc currently is holding shares equating to 6.71% of its total portfolio in Madison Square Garden Co representing a total of 4.38 million shares. Another fund,Gluskin Sheff & Assoc Inc, is holding a total of 1.10 million shares equating to 5.72% of their holdings. Additionally, Lateef Investment Management L.P. has a 2.42 million share stake in Madison Square Garden Co which represents 4.27% of their total portfolio. The Fund, Boyar Asset Management Inc., based out of New York, has also built up a stake in the stock, which represents a total of 3.55% of their total portfolio. Finally Greystone Investment Management Llc, a fund which is based in the state of Ohio reported a total holdings of 77,205 shares.
Insider activity is a very important aspect to track on any stock. Going back to June 16, 2015, shareholders of Madison Square Garden Co have witnessed 0 insider purchases, and a total of 3 selling transactions equating to a net activity of approximately $637,280 . Hildenbrand Wilton J. Jr. sold 2,944 shares worth approximately $211,741. Parsons Richard D sold 5,050 shares worth approximately $351,076. Dolan Patrick Francis sold 870 shares worth approximately $74,463.
The Madison Square Garden Company, formerly MSG Spinco, Inc., is engaged in sports and entertainment business. The company has a market cap of $3.90 billion. The Firm operates through two divisions: MSG Sports and MSG Entertainment. It currently has negative earnings. MSG Sports segment includes sports business, which owns and operates the sports franchises, such as the New York Knicks of the National Basketball Association (the NBA) and the New York Rangers (the Rangers) of the National Hockey League (the NHL).
According to Zacks Investment Research, “The Madison Square Garden Company is involved in the sports, entertainment and media industries. The company’s business segment consists of MSG Sports, MSG Media and MSG Entertainment. MSG Sports is involved in live sporting events. MSG Sports owns and operates sports franchises include the New York Knicks, the New York Rangers, the New York Liberty, the Westchester Knicks and the Hartford Wolf Pack. MSG Media is involved in production and content development for multiple distribution platforms. MSG Entertainment creates, produces and presents live productions, hosts live entertainment events. The Madison Square Garden Company is based in New York, United States.” Get a free copy of the Zacks research report on Madison Square Garden Co (MSG).