Zacks Investment Research Downgrades Madison Square Garden Sports (NYSE:MSGS) to Sell

Madison Square Garden Sports (NYSE:MSGSGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “Madison Square Garden Sports Corp. is a professional sports company, with a collection of assets which includes the New York Knicks and the New York Rangers as well as development league teams – the Westchester Knicks and the Hartford Wolf Pack; and esports teams. The company also owns professional sports team performance centers – the MSG Training Center in Greenburgh, NY and the CLG Performance Center in Los Angeles, CA. Madison Square Garden Sports Corp., formerly known as Madison Square Garden Company, is based in New York, United States. “

Separately, TheStreet raised shares of Madison Square Garden Sports from a “d” rating to a “c-” rating in a report on Thursday, February 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $211.50.

Shares of MSGS opened at $156.54 on Tuesday. The firm has a market cap of $3.78 billion, a P/E ratio of 52.18 and a beta of 0.92. Madison Square Garden Sports has a 52 week low of $152.42 and a 52 week high of $203.37. The firm’s 50-day simple moving average is $170.57 and its 200 day simple moving average is $173.58.

Madison Square Garden Sports (NYSE:MSGSGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.34). Madison Square Garden Sports had a net margin of 9.28% and a negative return on equity of 34.29%. The firm had revenue of $337.80 million during the quarter, compared to analyst estimates of $332.95 million. During the same period in the prior year, the company earned $0.22 earnings per share. The business’s quarterly revenue was up 84.6% compared to the same quarter last year. Analysts anticipate that Madison Square Garden Sports will post 0.19 earnings per share for the current year.

Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in shares of Madison Square Garden Sports by 0.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,641 shares of the company’s stock worth $1,235,000 after buying an additional 57 shares during the last quarter. First Bank & Trust lifted its holdings in shares of Madison Square Garden Sports by 9.2% in the first quarter. First Bank & Trust now owns 940 shares of the company’s stock worth $168,000 after acquiring an additional 79 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Madison Square Garden Sports by 1.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,133 shares of the company’s stock valued at $1,239,000 after purchasing an additional 80 shares in the last quarter. LPL Financial LLC grew its holdings in shares of Madison Square Garden Sports by 3.3% during the 4th quarter. LPL Financial LLC now owns 2,757 shares of the company’s stock valued at $479,000 after purchasing an additional 89 shares during the last quarter. Finally, Swiss National Bank increased its position in Madison Square Garden Sports by 0.3% during the 3rd quarter. Swiss National Bank now owns 32,433 shares of the company’s stock worth $6,031,000 after purchasing an additional 100 shares in the last quarter. 67.12% of the stock is owned by institutional investors.

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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