Madison Square Garden Sports (NYSE:MSGS) Sets New 52-Week High – What’s Next?

Madison Square Garden Sports Corp. (NYSE:MSGS) reached a new 52-week high during trading on Tuesday . The stock traded as high as $237.99 and last traded at $235.70, with a volume of 710 shares traded. The stock had previously closed at $235.85.

Analysts Set New Price Targets

Separately, Macquarie boosted their target price on shares of Madison Square Garden Sports from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th.

Madison Square Garden Sports Stock Performance

The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 81.02 and a beta of 0.91. The business’s 50 day moving average price is $224.10 and its 200 day moving average price is $207.42.

Madison Square Garden Sports (NYSE:MSGS) last released its quarterly earnings results on Friday, November 1st. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.55. Madison Square Garden Sports had a net margin of 6.75% and a negative return on equity of 23.81%. The firm had revenue of $53.31 million for the quarter, compared to analysts’ expectations of $43.71 million. During the same quarter last year, the company earned ($0.79) EPS. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. Sell-side analysts anticipate that Madison Square Garden Sports Corp. will post 0.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Ariel Investments LLC increased its position in shares of Madison Square Garden Sports by 3.5% during the 2nd quarter. Ariel Investments LLC now owns 970,156 shares of the company’s stock worth $182,515,000 after purchasing an additional 33,031 shares during the last quarter. State Street Corp lifted its holdings in Madison Square Garden Sports by 1.2% during the 3rd quarter. State Street Corp now owns 549,108 shares of the company’s stock worth $114,357,000 after buying an additional 6,640 shares in the last quarter. Gabelli Funds LLC lifted its holdings in Madison Square Garden Sports by 0.4% during the 2nd quarter. Gabelli Funds LLC now owns 415,288 shares of the company’s stock worth $78,128,000 after buying an additional 1,488 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Madison Square Garden Sports by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 273,222 shares of the company’s stock worth $56,916,000 after buying an additional 1,913 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in Madison Square Garden Sports by 1,231.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 246,374 shares of the company’s stock worth $46,350,000 after buying an additional 227,874 shares in the last quarter. Hedge funds and other institutional investors 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.