Madison Square Garden Sports (NYSE:MSGS) Hits New 1-Year High – Still a Buy?

Madison Square Garden Sports Corp. (NYSE:MSGS) shares reached a new 52-week high on Monday . The stock traded as high as $232.58 and last traded at $231.52, with a volume of 6781 shares traded. The stock had previously closed at $229.83.

Analyst Upgrades and Downgrades

Separately, Macquarie upped their target price on Madison Square Garden Sports from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th.

Madison Square Garden Sports Trading Up 0.7 %

The firm’s 50-day simple moving average is $218.12 and its two-hundred day simple moving average is $202.94. The stock has a market capitalization of $5.56 billion, a PE ratio of 79.17 and a beta of 0.92.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings data on Friday, November 1st. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.55. The firm 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 business’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same period last year, the company posted ($0.79) EPS. As a group, research analysts expect that Madison Square Garden Sports Corp. will post 0.81 earnings per share for the current year.

Institutional Trading of Madison Square Garden Sports

Several hedge funds and other institutional investors have recently modified their holdings of MSGS. Ariel Investments LLC grew its position in Madison Square Garden Sports by 3.5% in the second 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. State Street Corp grew its holdings in Madison Square Garden Sports by 1.2% during the third quarter. State Street Corp now owns 549,108 shares of the company’s stock valued at $114,357,000 after purchasing an additional 6,640 shares during the last quarter. Gabelli Funds LLC raised its position in shares of Madison Square Garden Sports by 0.4% in the second quarter. Gabelli Funds LLC now owns 415,288 shares of the company’s stock valued at $78,128,000 after purchasing an additional 1,488 shares during the period. Geode Capital Management LLC lifted its stake in shares of Madison Square Garden Sports by 0.7% in the third quarter. Geode Capital Management LLC now owns 273,222 shares of the company’s stock worth $56,916,000 after buying an additional 1,913 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Madison Square Garden Sports by 1,231.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 246,374 shares of the company’s stock worth $46,350,000 after buying an additional 227,874 shares during the period. 68.94% of the stock is currently 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.