Madison Square Garden Sports (NYSE:MSGS) Sets New 1-Year High on Analyst Upgrade

Madison Square Garden Sports Corp. (NYSE:MSGS)’s share price reached a new 52-week high on Wednesday after Macquarie raised their price target on the stock from $235.00 to $240.00. Macquarie currently has an outperform rating on the stock. Madison Square Garden Sports traded as high as $230.69 and last traded at $230.67, with a volume of 43338 shares traded. The stock had previously closed at $217.86.

Insider Buying and Selling

In other Madison Square Garden Sports news, CEO James Lawrence Dolan sold 629 shares of Madison Square Garden Sports stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $209.30, for a total transaction of $131,649.70. Following the completion of the sale, the chief executive officer now directly owns 10,192 shares in the company, valued at $2,133,185.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 22.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Madison Square Garden Sports

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Madison Square Garden Sports by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,939,705 shares of the company’s stock worth $357,914,000 after acquiring an additional 12,813 shares during the last quarter. Ariel Investments LLC lifted its stake in Madison Square Garden Sports by 3.5% in the second quarter. Ariel Investments LLC now owns 970,156 shares of the company’s stock worth $182,515,000 after purchasing an additional 33,031 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Madison Square Garden Sports by 3.7% during the first quarter. Gamco Investors INC. ET AL now owns 594,169 shares of the company’s stock valued at $109,636,000 after buying an additional 21,149 shares during the last quarter. Gabelli Funds LLC increased its holdings in shares of Madison Square Garden Sports by 0.4% in the second quarter. Gabelli Funds LLC now owns 415,288 shares of the company’s stock worth $78,128,000 after buying an additional 1,488 shares during the period. Finally, Point72 Asset Management L.P. grew its position in Madison Square Garden Sports by 1,231.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 246,374 shares of the company’s stock worth $46,350,000 after acquiring an additional 227,874 shares during the last quarter. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Madison Square Garden Sports Trading Up 1.4 %

The stock has a 50 day simple moving average of $212.47 and a 200 day simple moving average of $199.05. The firm has a market capitalization of $5.47 billion, a PE ratio of 78.46 and a beta of 0.92.

Madison Square Garden Sports (NYSE:MSGS) last posted its quarterly earnings results on Friday, November 1st. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.55. The company had revenue of $53.31 million during the quarter, compared to analyst estimates of $43.71 million. Madison Square Garden Sports had a net margin of 6.75% and a negative return on equity of 23.81%. The firm’s revenue was up 23.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.79) EPS. As a group, equities analysts anticipate that Madison Square Garden Sports Corp. will post 1.42 earnings per share for the current year.

Madison Square Garden Sports Company Profile

Madison Square Garden Sports Corp. operates as a professional sports company in the United States. The company owns and operates a portfolio of assets that consists of the New York Knickerbockers of the National Basketball Association (NBA) and the New York Rangers of the National Hockey League. Its other professional franchises include development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.