Madison Square Garden Sports (NYSE:MSGS) Price Target Raised to $240.00

Madison Square Garden Sports (NYSE:MSGS) had its price target hoisted by Macquarie from $235.00 to $240.00 in a research report released on Tuesday,Benzinga reports. Macquarie currently has an outperform rating on the stock.

Madison Square Garden Sports Stock Down 1.1 %

MSGS traded down $2.56 during trading on Tuesday, hitting $225.88. The company’s stock had a trading volume of 13,108 shares, compared to its average volume of 115,258. The business’s 50 day simple moving average is $212.88 and its 200-day simple moving average is $199.25. The firm has a market cap of $5.41 billion, a PE ratio of 76.93 and a beta of 0.92. Madison Square Garden Sports has a one year low of $166.26 and a one year high of $230.69.

Madison Square Garden Sports (NYSE:MSGS) last released 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 for the quarter, compared to the consensus estimate 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 previous year, the business earned ($0.79) earnings per share. Equities research analysts expect that Madison Square Garden Sports will post 1.42 EPS for the current fiscal year.

Insider Buying and Selling at Madison Square Garden Sports

In related news, CEO James Lawrence Dolan sold 629 shares of the stock in a transaction dated 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 owns 10,192 shares of the company’s stock, valued at approximately $2,133,185.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 22.10% of the company’s stock.

Hedge Funds Weigh In On Madison Square Garden Sports

Large investors have recently bought and sold shares of the business. Point72 Asset Management L.P. grew its holdings in shares of Madison Square Garden Sports by 1,231.8% in the second quarter. Point72 Asset Management L.P. now owns 246,374 shares of the company’s stock worth $46,350,000 after purchasing an additional 227,874 shares during the last quarter. Bank of Montreal Can lifted its stake in Madison Square Garden Sports by 139.2% in the second quarter. Bank of Montreal Can now owns 89,166 shares of the company’s stock worth $16,900,000 after acquiring an additional 51,897 shares during the period. Ariel Investments LLC grew its holdings in 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 acquiring an additional 33,031 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in Madison Square Garden Sports by 306.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 39,187 shares of the company’s stock valued at $7,372,000 after purchasing an additional 29,547 shares during the period. Finally, Gamco Investors INC. ET AL raised its holdings in shares of Madison Square Garden Sports by 3.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 594,169 shares of the company’s stock valued at $109,636,000 after purchasing an additional 21,149 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.