Madison Square Garden Sports (NYSE:MSGS) Hits New 1-Year High – Here’s What Happened

Madison Square Garden Sports Corp. (NYSE:MSGS) reached a new 52-week high on Tuesday . The stock traded as high as $237.99 and last traded at $235.70, with a volume of 710 shares trading hands. The stock had previously closed at $235.85.

Analyst Upgrades and Downgrades

Separately, Macquarie increased their price objective on shares of Madison Square Garden Sports from $235.00 to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th.

Madison Square Garden Sports Stock Down 2.6 %

The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 77.79 and a beta of 0.91. The firm has a 50 day moving average price of $224.67 and a two-hundred day moving average price of $207.88.

Madison Square Garden Sports (NYSE:MSGS) last posted its quarterly earnings data on Friday, November 1st. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.55. The firm had revenue of $53.31 million for the quarter, compared to the consensus estimate of $43.71 million. Madison Square Garden Sports had a net margin of 6.75% and a negative return on equity of 23.81%. The firm’s revenue was up 23.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.79) EPS. Analysts predict that Madison Square Garden Sports Corp. will post 0.81 earnings per share for the current year.

Institutional Trading of Madison Square Garden Sports

Institutional investors have recently added to or reduced their stakes in the business. Inspire Trust Co. N.A. grew its position in shares of Madison Square Garden Sports by 18.6% during the third quarter. Inspire Trust Co. N.A. now owns 7,000 shares of the company’s stock worth $1,458,000 after acquiring an additional 1,100 shares during the last quarter. Franklin Resources Inc. boosted its position in Madison Square Garden Sports by 1.3% during the 3rd quarter. Franklin Resources Inc. now owns 99,847 shares of the company’s stock worth $21,706,000 after acquiring an additional 1,326 shares during the period. Sanctuary Advisors LLC acquired a new stake in Madison Square Garden Sports in the third quarter worth about $264,000. Geode Capital Management LLC increased its stake in Madison Square Garden Sports by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 273,222 shares of the company’s stock valued at $56,916,000 after buying an additional 1,913 shares during the period. Finally, Insight Inv LLC lifted its stake in shares of Madison Square Garden Sports by 1.5% in the 3rd quarter. Insight Inv LLC now owns 6,665 shares of the company’s stock worth $1,388,000 after acquiring an additional 100 shares during the period. Institutional investors own 68.94% of the company’s stock.

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.