Madison Square Garden Sports (NYSE:MSGS) Price Target Raised to $250.00

Madison Square Garden Sports (NYSE:MSGS) had its target price lifted by Macquarie from $240.00 to $250.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Madison Square Garden Sports Trading Down 0.8 %

Madison Square Garden Sports stock opened at $201.22 on Tuesday. The stock has a market cap of $4.83 billion, a P/E ratio of 84.90 and a beta of 0.91. The company has a 50-day moving average price of $214.98 and a 200 day moving average price of $215.96. Madison Square Garden Sports has a 12-month low of $178.35 and a 12-month high of $237.99.

Madison Square Garden Sports (NYSE:MSGS) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.25). The firm had revenue of $357.80 million for the quarter, compared to analysts’ expectations of $352.68 million. Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 EPS. As a group, analysts forecast that Madison Square Garden Sports will post 0.73 EPS for the current year.

Institutional Trading of Madison Square Garden Sports

Hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP boosted its stake in Madison Square Garden Sports by 81.4% during the fourth quarter. Allworth Financial LP now owns 127 shares of the company’s stock worth $28,000 after buying an additional 57 shares during the period. Putney Financial Group LLC acquired a new position in shares of Madison Square Garden Sports in the 4th quarter worth approximately $28,000. Fifth Third Bancorp boosted its position in shares of Madison Square Garden Sports by 119.0% during the 4th quarter. Fifth Third Bancorp now owns 138 shares of the company’s stock worth $31,000 after purchasing an additional 75 shares during the period. Heck Capital Advisors LLC acquired a new stake in Madison Square Garden Sports in the 4th quarter valued at approximately $43,000. Finally, Venturi Wealth Management LLC raised 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 valued at $46,000 after purchasing an additional 53 shares during the period. 68.94% of the stock is owned by institutional investors and hedge funds.

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.