Madison Square Garden Sports (NYSE:MSGS) Reaches New 12-Month High - Time to Buy?

Madison Square Garden Sports Corp. (NYSE:MSGS - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company 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.

Analyst Ratings Changes

Separately, Macquarie lifted their price objective on shares of Madison Square Garden Sports from $235.00 to $240.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th.

Madison Square Garden Sports Stock Down 1.5 %

The firm has a market capitalization of $5.56 billion, a PE ratio of 79.81 and a beta of 0.91. The stock has a 50-day simple moving average of $224.44 and a 200-day simple moving average of $207.75.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last announced its quarterly earnings data on Friday, November 1st. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.55. The company had revenue of $53.31 million during the quarter, compared to analyst estimates of $43.71 million. Madison Square Garden Sports had a negative return on equity of 23.81% and a net margin of 6.75%. The firm's revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.79) EPS. Equities analysts forecast that Madison Square Garden Sports Corp. will post 0.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Louisiana State Employees Retirement System lifted its stake in Madison Square Garden Sports by 1.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the company's stock worth $1,580,000 after purchasing an additional 100 shares in the last quarter. Argent Capital Management LLC boosted its stake in Madison Square Garden Sports by 60.6% during the second quarter. Argent Capital Management LLC now owns 1,889 shares of the company's stock valued at $355,000 after buying an additional 713 shares during the period. Bank of New York Mellon Corp grew its position in Madison Square Garden Sports by 1.9% during the second quarter. Bank of New York Mellon Corp now owns 113,969 shares of the company's stock worth $21,441,000 after buying an additional 2,096 shares in the last quarter. Pullen Investment Management LLC increased its stake in Madison Square Garden Sports by 2.3% in the 2nd quarter. Pullen Investment Management LLC now owns 4,419 shares of the company's stock worth $831,000 after acquiring an additional 98 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Madison Square Garden Sports by 18.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,388 shares of the company's stock valued at $637,000 after acquiring an additional 517 shares in the last quarter. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

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.