Madison Square Garden Sports (NASDAQ:MSGS) Lifted to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Madison Square Garden Sports (NASDAQ:MSGS) from an equal weight rating to an overweight rating in a report issued on Thursday, BenzingaRatingsTable reports. Morgan Stanley currently has $210.00 price target on the stock.

Several other analysts also recently issued reports on the stock. Evercore ISI started coverage on shares of Madison Square Garden Sports in a research note on Tuesday, May 19th. They issued an outperform rating and a $208.00 price objective for the company. TheStreet downgraded shares of Madison Square Garden Sports from a c- rating to a d+ rating in a research note on Thursday, May 28th. Wolfe Research started coverage on shares of Madison Square Garden Sports in a research note on Thursday, June 25th. They set an outperform rating and a $208.00 price target for the company. Zacks Investment Research downgraded shares of Madison Square Garden Sports from a hold rating to a strong sell rating in a research note on Friday, July 17th. Finally, Guggenheim lifted their price target on shares of Madison Square Garden Sports from $216.00 to $221.00 and gave the company a buy rating in a research note on Wednesday, June 17th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Madison Square Garden Sports currently has an average rating of Buy and a consensus target price of $203.17.

MSGS traded down $0.46 on Thursday, hitting $153.69. The company had a trading volume of 114,616 shares, compared to its average volume of 245,805. Madison Square Garden Sports has a 12-month low of $143.95 and a 12-month high of $316.39. The company’s fifty day moving average is $153.75.

Madison Square Garden Sports (NASDAQ:MSGS) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($1.36). The business had revenue of $424.00 million for the quarter, compared to analyst estimates of $470.41 million. Madison Square Garden Sports’s revenue was down 18.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.48 earnings per share.

Hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. purchased a new position in Madison Square Garden Sports during the first quarter valued at approximately $26,000. Rockefeller Capital Management L.P. purchased a new position in Madison Square Garden Sports during the first quarter valued at approximately $34,000. Private Capital Group LLC purchased a new position in Madison Square Garden Sports during the first quarter valued at approximately $35,000. US Bancorp DE purchased a new position in Madison Square Garden Sports during the first quarter valued at approximately $62,000. Finally, AGF Investments Inc. purchased a new position in Madison Square Garden Sports during the first quarter valued at approximately $214,000.

Madison Square Garden Sports Company Profile

Madison Square Garden Sports Corp. operates as a professional sports company. Its collection of assets include the New York Knicks (NBA) and the New York Rangers (NHL); two development league teams, including the Westchester Knicks (NBAGL) and the Hartford Wolf Pack (AHL); and esports teams. The company also owns two professional sports team performance centers, including the MSG training center in Greenburgh, New York and the CLG performance center in Los Angeles, California.

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Analyst Recommendations for Madison Square Garden Sports (NASDAQ:MSGS)

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