Madison Square Garden Sports (NYSE:MSGS) Reaches New 12-Month High Following Analyst Upgrade

Madison Square Garden Sports Corp. (NYSE:MSGS)’s stock price reached a new 52-week high during mid-day trading 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 traded. The stock had previously closed at $217.86.

Insider Activity at Madison Square Garden Sports

In other news, CEO James Lawrence Dolan sold 629 shares of Madison Square Garden Sports stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $209.30, for a total transaction of $131,649.70. Following the sale, the chief executive officer now owns 10,192 shares of the company’s stock, valued at approximately $2,133,185.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed 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

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Madison Square Garden Sports during the second quarter valued at approximately $1,427,000. SageView Advisory Group LLC lifted its holdings in shares of Madison Square Garden Sports by 535.5% during the first quarter. SageView Advisory Group LLC now owns 8,566 shares of the company’s stock valued at $1,581,000 after acquiring an additional 7,218 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Madison Square Garden Sports in the 2nd quarter valued at $831,000. Harbor Capital Advisors Inc. grew its holdings in shares of Madison Square Garden Sports by 75.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 68,632 shares of the company’s stock worth $14,293,000 after purchasing an additional 29,445 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Madison Square Garden Sports during the 2nd quarter worth about $543,000. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Sports Trading Up 3.5 %

The stock has a market capitalization 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 released its quarterly earnings results on Friday, November 1st. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.55. The firm 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 business’s revenue was up 23.8% on a year-over-year basis. During the same period last year, the firm posted ($0.79) EPS. Equities research analysts expect that Madison Square Garden Sports Corp. will post 1.42 EPS for the current year.

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.