Madison Square Garden Sports (NYSE:MSGS) Hits New 12-Month Low – Here’s What Happened

Shares of Madison Square Garden Sports Corp. (NYSE:MSGS) reached a new 52-week low during trading on Monday . The stock traded as low as $173.26 and last traded at $175.09, with a volume of 106633 shares. The stock had previously closed at $180.96.

Analyst Upgrades and Downgrades

Separately, Macquarie boosted their price objective on shares of Madison Square Garden Sports from $240.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th.

Madison Square Garden Sports Stock Performance

The company has a fifty day simple moving average of $201.39 and a two-hundred day simple moving average of $214.08. The firm has a market capitalization of $4.28 billion, a PE ratio of 75.22 and a beta of 0.81.

Madison Square Garden Sports (NYSE:MSGS) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.25). The business had revenue of $357.80 million for the quarter, compared to analysts’ expectations of $352.68 million. Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 earnings per share. On average, equities analysts anticipate that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current fiscal year.

Insider Transactions at Madison Square Garden Sports

In other news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of Madison Square Garden Sports stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $189.92, for a total value of $6,044,204.00. Following the transaction, the insider now owns 5,097 shares of the company’s stock, valued at $968,022.24. The trade was a 86.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 22.10% of the company’s stock.

Institutional Investors Weigh In On Madison Square Garden Sports

Several institutional investors have recently bought and sold shares of MSGS. Putney Financial Group LLC acquired a new stake in shares of Madison Square Garden Sports in the 4th quarter worth $28,000. Allworth Financial LP raised its stake in Madison Square Garden Sports by 81.4% in the fourth quarter. Allworth Financial LP now owns 127 shares of the company’s stock valued at $28,000 after buying an additional 57 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Madison Square Garden Sports by 119.0% in the fourth quarter. Fifth Third Bancorp now owns 138 shares of the company’s stock worth $31,000 after acquiring an additional 75 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Madison Square Garden Sports during the fourth quarter worth about $43,000. Finally, Versant Capital Management Inc increased 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 valued at $53,000 after acquiring an additional 61 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.

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.