Madison Square Garden Sports (NYSE:MSGS) Sets New 1-Year High – What’s Next?

Madison Square Garden Sports Corp. (NYSE:MSGS) shares reached a new 52-week high on Monday . The stock traded as high as $217.89 and last traded at $217.39, with a volume of 52810 shares trading hands. The stock had previously closed at $216.29.

Analysts Set New Price Targets

Separately, Macquarie decreased their price target on shares of Madison Square Garden Sports from $240.00 to $235.00 and set an “outperform” rating on the stock in a research note on Friday, August 16th.

Madison Square Garden Sports Stock Up 0.5 %

The business has a 50 day moving average of $205.55 and a 200 day moving average of $194.45. The company has a market capitalization of $5.21 billion, a P/E ratio of 220.70 and a beta of 0.93.

Madison Square Garden Sports (NYSE:MSGS) last posted its earnings results on Tuesday, August 13th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.73. The firm had revenue of $227.25 million during the quarter, compared to analyst estimates of $167.71 million. Madison Square Garden Sports had a net margin of 5.72% and a negative return on equity of 18.69%. Madison Square Garden Sports’s revenue for the quarter was up 79.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.39) earnings per share. On average, research analysts anticipate that Madison Square Garden Sports Corp. will post 1.42 EPS for the current year.

Insider Transactions at Madison Square Garden Sports

In other Madison Square Garden Sports news, CEO James Lawrence Dolan sold 629 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $209.30, for a total transaction of $131,649.70. Following the sale, the chief executive officer now directly owns 10,192 shares in the company, valued at $2,133,185.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 22.28% of the company’s stock.

Institutional Trading of Madison Square Garden Sports

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MSGS. EverSource Wealth Advisors LLC boosted its stake in shares of Madison Square Garden Sports by 80.6% during the first quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock valued at $42,000 after purchasing an additional 100 shares during the period. GAMMA Investing LLC grew its stake in Madison Square Garden Sports by 179.8% in the 2nd quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock worth $49,000 after acquiring an additional 169 shares in the last quarter. Quent Capital LLC increased its position in shares of Madison Square Garden Sports by 312.4% during the first quarter. Quent Capital LLC now owns 565 shares of the company’s stock worth $104,000 after acquiring an additional 428 shares during the period. BNP Paribas bought a new stake in shares of Madison Square Garden Sports during the first quarter valued at approximately $111,000. Finally, Dnca Finance purchased a new stake in shares of Madison Square Garden Sports in the second quarter valued at approximately $113,000. 68.94% of the stock is 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.