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

Madison Square Garden Sports Corp. (NYSE:MSGS) 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. The stock had previously closed at $217.86.

Insiders Place Their Bets

In related news, CEO James Lawrence Dolan sold 629 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $209.30, for a total value of $131,649.70. Following the completion of the sale, the chief executive officer now owns 10,192 shares of the company’s stock, valued at approximately $2,133,185.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 22.10% of the company’s stock.

Hedge Funds Weigh In On Madison Square Garden Sports

Several hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its stake in shares of Madison Square Garden Sports by 80.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock worth $42,000 after acquiring an additional 100 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in Madison Square Garden Sports by 31.2% during the third quarter. Venturi Wealth Management LLC now owns 223 shares of the company’s stock valued at $46,000 after purchasing an additional 53 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Madison Square Garden Sports by 179.8% in the second quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock valued at $49,000 after purchasing an additional 169 shares during the period. Blue Trust Inc. lifted its stake in shares of Madison Square Garden Sports by 326.5% in the third quarter. Blue Trust Inc. now owns 418 shares of the company’s stock worth $87,000 after buying an additional 320 shares during the last quarter. Finally, Dnca Finance acquired a new position in Madison Square Garden Sports in the 2nd quarter valued at $113,000. 68.94% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden Sports Trading Up 3.5 %

The stock has a market cap of $5.40 billion, a P/E ratio of 77.44 and a beta of 0.92. The firm’s fifty day moving average is $212.14 and its 200 day moving average is $198.86.

Madison Square Garden Sports (NYSE:MSGS) last posted its quarterly earnings data on Friday, November 1st. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.55. The business had revenue of $53.31 million during the quarter, compared to analysts’ expectations of $43.71 million. Madison Square Garden Sports had a negative return on equity of 23.81% and a net margin of 6.75%. The firm’s revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.79) EPS. Research analysts forecast that Madison Square Garden Sports Corp. will post 1.42 earnings per share for the current fiscal year.

About Madison Square Garden Sports

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.