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

Madison Square Garden Sports Corp. (NYSE:MSGS - Get Free Report) 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. The stock had previously closed at $217.86.

Insider Buying and Selling

In other Madison Square Garden Sports news, CEO James Lawrence Dolan sold 629 shares of the firm's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $209.30, for a total value of $131,649.70. Following the completion of the transaction, the chief executive officer now directly owns 10,192 shares of the company's stock, valued at $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 is available at this link. 22.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Madison Square Garden Sports

Institutional investors have recently made changes to their positions in the stock. Venturi Wealth Management LLC lifted its position in Madison Square Garden Sports by 31.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 223 shares of the company's stock worth $46,000 after buying an additional 53 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Madison Square Garden Sports by 80.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company's stock worth $42,000 after acquiring an additional 100 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Madison Square Garden Sports by 179.8% in the 2nd quarter. GAMMA Investing LLC now owns 263 shares of the company's stock valued at $49,000 after purchasing an additional 169 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Madison Square Garden Sports by 326.5% during the 3rd quarter. Blue Trust Inc. now owns 418 shares of the company's stock valued at $87,000 after purchasing an additional 320 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in Madison Square Garden Sports in the 3rd quarter worth $119,000. Institutional investors own 68.94% of the company's stock.

Madison Square Garden Sports Price Performance

The firm's 50 day simple moving average is $212.14 and its two-hundred day simple moving average is $198.86. The firm has a market capitalization of $5.40 billion, a P/E ratio of 77.44 and a beta of 0.92.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last issued its earnings results on Friday, November 1st. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.86) by $0.55. The company 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%. Madison Square Garden Sports's quarterly revenue was up 23.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.79) EPS. As a group, equities research analysts forecast that Madison Square Garden Sports Corp. will post 1.42 EPS for the current year.

About Madison Square Garden Sports

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.