Madison Square Garden Sports (NYSE:MSGS) Hits New 52-Week Low – Time to Sell?

Madison Square Garden Sports Corp. (NYSE:MSGS) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $173.26 and last traded at $175.09, with a volume of 106633 shares. The stock had previously closed at $180.96.

Analyst Upgrades and Downgrades

Separately, Macquarie boosted their price objective on shares of Madison Square Garden Sports from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th.

Madison Square Garden Sports Price Performance

The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of 75.22 and a beta of 0.81. The business has a fifty day moving average price of $201.39 and a two-hundred day moving average price of $214.08.

Madison Square Garden Sports (NYSE:MSGS) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.25). The business had revenue of $357.80 million during the quarter, compared to analyst estimates of $352.68 million. Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. Madison Square Garden Sports’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.59 EPS. On average, research analysts predict that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current year.

Insider Activity at Madison Square Garden Sports

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $189.92, for a total transaction of $6,044,204.00. Following the sale, the insider now directly owns 5,097 shares of the company’s stock, valued at $968,022.24. This trade represents a 86.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Madison Square Garden Sports

Hedge funds have recently bought and sold shares of the stock. Allworth Financial LP lifted its stake in shares of Madison Square Garden Sports by 81.4% in the 4th quarter. Allworth Financial LP now owns 127 shares of the company’s stock valued at $28,000 after purchasing an additional 57 shares during the period. Putney Financial Group LLC purchased a new position in Madison Square Garden Sports in the fourth quarter valued at $28,000. Fifth Third Bancorp raised its position in shares of Madison Square Garden Sports by 119.0% in the fourth quarter. Fifth Third Bancorp now owns 138 shares of the company’s stock worth $31,000 after acquiring an additional 75 shares during the period. Heck Capital Advisors LLC purchased a new stake in shares of Madison Square Garden Sports during the 4th quarter worth about $43,000. Finally, Versant Capital Management Inc boosted its stake in shares of Madison Square Garden Sports by 35.3% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the company’s stock worth $53,000 after acquiring an additional 61 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.