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

Zacks Research cut shares of MSG Knickerbockers (NYSE:MSGK) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday morning,Zacks reports.

A number of other equities analysts have also commented on the company. Guggenheim reduced their target price on MSG Knickerbockers from $584.00 to $445.00 and set a “buy” rating on the stock in a report on Wednesday. Weiss Ratings assumed coverage on shares of MSG Knickerbockers in a research report on Wednesday. They set a “hold (c)” rating for the company. One 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 data from MarketBeat, MSG Knickerbockers presently has an average rating of “Hold” and a consensus price target of $445.00.

MSG Knickerbockers Stock Performance

Shares of MSGK 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.

MSG Knickerbockers Company Profile

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.