Macquarie Issues Positive Forecast for Madison Square Garden Sports (NYSE:MSGS) Stock Price

by · The Markets Daily

Madison Square Garden Sports (NYSE:MSGS – Get Free Report) had its target price raised by research analysts at Macquarie from $235.00 to $240.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Macquarie’s target price suggests a potential upside of 10.16% from the stock’s previous close.

Madison Square Garden Sports Trading Up 0.9 %

Madison Square Garden Sports stock traded up $1.98 during mid-day trading on Tuesday, hitting $217.86. The company had a trading volume of 97,300 shares, compared to its average volume of 115,093. Madison Square Garden Sports has a 12 month low of $166.26 and a 12 month high of $227.66. The company has a market capitalization of $5.22 billion, a PE ratio of 74.87 and a beta of 0.92. The stock’s 50 day moving average price is $211.97 and its two-hundred day moving average price is $198.59.

Madison Square Garden Sports (NYSE:MSGS – Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.55. The firm had revenue of $53.31 million for the quarter, compared to analysts’ expectations of $43.71 million. Madison Square Garden Sports had a net margin of 6.75% and a negative return on equity of 23.81%. The business’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.79) earnings per share. Equities research analysts anticipate that Madison Square Garden Sports will post 1.42 EPS for the current year.

Insider Transactions at Madison Square Garden Sports

In other Madison Square Garden Sports news, CEO James Lawrence Dolan sold 629 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $209.30, for a total transaction of $131,649.70. Following the completion of the sale, the chief executive officer now directly owns 10,192 shares in the company, valued at $2,133,185.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 22.10% of the company’s stock.

Institutional Trading of Madison Square Garden Sports

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in shares of Madison Square Garden Sports during the 2nd quarter valued at $1,427,000. SageView Advisory Group LLC lifted its position in shares of Madison Square Garden Sports by 535.5% in 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 in the last quarter. OFI Invest Asset Management bought a new position in shares of Madison Square Garden Sports in the second quarter worth about $831,000. Point72 DIFC Ltd purchased a new stake in shares of Madison Square Garden Sports during the second quarter worth about $543,000. Finally, Harbor Capital Advisors Inc. raised its position in shares of Madison Square Garden Sports by 75.1% during the third quarter. Harbor Capital Advisors Inc. now owns 68,632 shares of the company’s stock valued at $14,293,000 after buying an additional 29,445 shares during the last quarter. Hedge funds and other institutional investors own 68.94% of the company’s stock.

About Madison Square Garden Sports

(Get Free Report)

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.

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