Madison Square Garden Sports (NYSE:MSGS) Price Target Lowered to $215.00 at Morgan Stanley

Madison Square Garden Sports (NYSE:MSGS) had its price target trimmed by Morgan Stanley from $235.00 to $215.00 in a research report report published on Monday,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research firms have also commented on MSGS. Macquarie lifted their target price on shares of Madison Square Garden Sports from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. Susquehanna initiated coverage on Madison Square Garden Sports in a research report on Monday, April 28th. They issued a “positive” rating and a $254.00 target price on the stock.

Madison Square Garden Sports Stock Performance

NYSE:MSGS opened at $188.83 on Monday. The company has a market cap of $4.53 billion, a price-to-earnings ratio of 79.68 and a beta of 0.78. Madison Square Garden Sports has a 52-week low of $173.26 and a 52-week high of $237.99. The stock’s fifty day moving average price is $192.08 and its two-hundred day moving average price is $210.38.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings data on Friday, May 2nd. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of $1.48 by ($2.07). The firm had revenue of $424.20 million for the quarter, compared to the consensus estimate of $436.84 million. Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.57 earnings per share. On average, equities analysts predict that Madison Square Garden Sports will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling at Madison Square Garden Sports

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $189.92, for a total transaction of $6,044,204.00. Following the transaction, the insider now directly owns 5,097 shares of the company’s stock, valued at approximately $968,022.24. The trade was a 86.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 22.10% of the company’s stock.

Institutional Trading of Madison Square Garden Sports

A number of hedge funds have recently modified their holdings of MSGS. Putney Financial Group LLC acquired a new stake in Madison Square Garden Sports during the fourth quarter worth approximately $28,000. Allworth Financial LP lifted its holdings in Madison Square Garden Sports by 81.4% during the 4th quarter. Allworth Financial LP now owns 127 shares of the company’s stock worth $28,000 after purchasing an additional 57 shares during the last quarter. Fifth Third Bancorp boosted its stake in Madison Square Garden Sports by 119.0% in the 4th quarter. Fifth Third Bancorp now owns 138 shares of the company’s stock valued at $31,000 after purchasing an additional 75 shares during the period. Heck Capital Advisors LLC bought a new position in Madison Square Garden Sports during the 4th quarter worth $43,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Madison Square Garden Sports by 35.3% during the fourth quarter. Versant Capital Management Inc now owns 234 shares of the company’s stock worth $53,000 after buying an additional 61 shares in the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

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.