Madison Square Garden Sports (NYSE:MSGS) Reaches New 1-Year Low - Here's Why

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

Analyst Upgrades and Downgrades

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

Madison Square Garden Sports Stock Up 1.1 %

The firm has a market capitalization of $4.56 billion, a PE ratio of 80.17 and a beta of 0.81. The business has a 50-day moving average price of $197.32 and a 200-day moving average price of $213.04.

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

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Insider Buying and Selling

In other news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the company's stock in a transaction on Monday, March 10th. The stock was 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. This represents a 86.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 22.10% of the stock is owned by company insiders.

Institutional Trading of Madison Square Garden Sports

Several institutional investors and hedge funds have recently bought and sold shares of MSGS. Allworth Financial LP increased its position in shares of Madison Square Garden Sports by 81.4% during the fourth quarter. Allworth Financial LP now owns 127 shares of the company's stock valued at $28,000 after acquiring an additional 57 shares during the last quarter. Putney Financial Group LLC purchased a new position in shares of Madison Square Garden Sports during the 4th quarter worth approximately $28,000. Fifth Third Bancorp increased its holdings in Madison Square Garden Sports by 119.0% in the 4th quarter. Fifth Third Bancorp now owns 138 shares of the company's stock valued at $31,000 after purchasing an additional 75 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in Madison Square Garden Sports in the fourth quarter valued at approximately $43,000. Finally, Versant Capital Management Inc lifted its stake in Madison Square Garden Sports by 35.3% during the fourth quarter. Versant Capital Management Inc now owns 234 shares of the company's stock worth $53,000 after purchasing an additional 61 shares in the last quarter. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

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.