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

Madison Square Garden Sports (NYSE:MSGS - Free Report) had its target price boosted by Macquarie from $240.00 to $250.00 in a research report released on Tuesday morning,Benzinga reports. Macquarie currently has an outperform rating on the stock.

Madison Square Garden Sports Stock Performance

Shares of Madison Square Garden Sports stock traded up $2.43 on Tuesday, hitting $203.75. 134,783 shares of the company traded hands, compared to its average volume of 100,866. The stock has a market capitalization of $4.89 billion, a P/E ratio of 85.97 and a beta of 0.91. Madison Square Garden Sports has a 52 week low of $178.35 and a 52 week high of $237.99. The business has a 50-day simple moving average of $214.55 and a 200 day simple moving average of $216.02.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last released 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). Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. The company had revenue of $357.80 million for the quarter, compared to the consensus estimate of $352.68 million. During the same quarter in the previous year, the business earned $0.59 EPS. The company's quarterly revenue was up 9.5% on a year-over-year basis. Research analysts expect that Madison Square Garden Sports will post 0.73 earnings per share for the current year.

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Institutional Investors Weigh In On Madison Square Garden Sports

Large investors have recently bought and sold shares of the business. Allworth Financial LP increased its position in Madison Square Garden Sports by 81.4% in the fourth quarter. Allworth Financial LP now owns 127 shares of the company's stock worth $28,000 after purchasing an additional 57 shares during the last quarter. Putney Financial Group LLC bought a new stake in Madison Square Garden Sports in the fourth quarter worth $28,000. Fifth Third Bancorp increased its position 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 purchasing an additional 75 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in Madison Square Garden Sports in the fourth quarter worth $43,000. Finally, Venturi Wealth Management LLC increased its position in Madison Square Garden Sports by 31.2% in the third quarter. Venturi Wealth Management LLC now owns 223 shares of the company's stock worth $46,000 after purchasing an additional 53 shares during the last quarter. 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.