Short Interest in Madison Square Garden Sports Corp. (NYSE:MSGS) Rises By 21.9%

Madison Square Garden Sports Corp. (NYSE:MSGSGet Rating) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 390,800 shares, a growth of 21.9% from the March 15th total of 320,700 shares. Based on an average daily trading volume, of 114,600 shares, the short-interest ratio is currently 3.4 days. Currently, 2.5% of the shares of the stock are sold short.

Several equities research analysts have recently weighed in on MSGS shares. TheStreet raised Madison Square Garden Sports from a “d” rating to a “c-” rating in a research note on Thursday, February 3rd. Zacks Investment Research upgraded Madison Square Garden Sports from a “sell” rating to a “hold” rating in a report on Tuesday, April 5th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $211.50.

A number of institutional investors and hedge funds have recently made changes to their positions in MSGS. State of Alaska Department of Revenue acquired a new position in shares of Madison Square Garden Sports in the first quarter worth $630,000. LGT Capital Partners LTD. increased its position in Madison Square Garden Sports by 8.0% in the 1st quarter. LGT Capital Partners LTD. now owns 27,000 shares of the company’s stock worth $4,843,000 after purchasing an additional 2,000 shares during the last quarter. Norges Bank purchased a new stake in shares of Madison Square Garden Sports during the 4th quarter worth about $27,902,000. BlackRock Inc. lifted its holdings in shares of Madison Square Garden Sports by 8.4% during the 4th quarter. BlackRock Inc. now owns 786,328 shares of the company’s stock valued at $136,609,000 after buying an additional 61,160 shares during the last quarter. Finally, Washington Harbour Partners LP bought a new stake in shares of Madison Square Garden Sports in the 4th quarter valued at approximately $3,839,000. 72.55% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Madison Square Garden Sports stock traded up $1.41 during midday trading on Tuesday, hitting $176.41. The company’s stock had a trading volume of 55,697 shares, compared to its average volume of 109,495. The firm has a market capitalization of $4.25 billion, a P/E ratio of 78.83 and a beta of 0.91. Madison Square Garden Sports has a 1-year low of $152.42 and a 1-year high of $203.37. The stock has a 50-day simple moving average of $173.21 and a 200-day simple moving average of $175.73.

Madison Square Garden Sports (NYSE:MSGSGet Rating) last announced its quarterly earnings data on Thursday, February 3rd. The company reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.02. The firm had revenue of $289.60 million during the quarter, compared to analyst estimates of $295.61 million. Madison Square Garden Sports had a negative return on equity of 24.26% and a net margin of 8.54%. The business’s quarterly revenue was up 905.6% compared to the same quarter last year. During the same period last year, the company posted ($1.68) EPS. On average, analysts forecast that Madison Square Garden Sports will post 0.2 EPS for the current year.

About Madison Square Garden Sports (Get Rating)

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

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