Macquarie Increases Madison Square Garden Sports (NYSE:MSGS) Price Target to $240.00

Madison Square Garden Sports (NYSE:MSGS) had its price objective boosted by research analysts at Macquarie from $235.00 to $240.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Macquarie’s price target indicates a potential upside of 6.44% from the stock’s previous close.

Madison Square Garden Sports Trading Up 3.5 %

MSGS opened at $225.48 on Tuesday. The business has a 50 day moving average of $212.14 and a 200-day moving average of $198.86. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 77.44 and a beta of 0.92. Madison Square Garden Sports has a 1-year low of $166.26 and a 1-year high of $230.69.

Madison Square Garden Sports (NYSE:MSGS) last issued its quarterly earnings results on Friday, November 1st. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.55. Madison Square Garden Sports had a net margin of 6.75% and a negative return on equity of 23.81%. The firm had revenue of $53.31 million during the quarter, compared to the consensus estimate of $43.71 million. During the same period in the prior year, the firm earned ($0.79) EPS. The business’s revenue was up 23.8% on a year-over-year basis. Equities analysts predict that Madison Square Garden Sports will post 1.42 EPS for the current year.

Insider Buying and Selling at Madison Square Garden Sports

In other news, CEO James Lawrence Dolan sold 629 shares of Madison Square Garden Sports 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 owns 10,192 shares of the company’s stock, valued at approximately $2,133,185.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 22.10% of the company’s stock.

Hedge Funds Weigh In On Madison Square Garden Sports

A number of hedge funds and other institutional investors have recently made changes to their positions in MSGS. Venturi Wealth Management LLC lifted its position in shares of Madison Square Garden Sports by 31.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 223 shares of the company’s stock worth $46,000 after buying an additional 53 shares during the period. Creative Planning lifted its holdings in shares of Madison Square Garden Sports by 2.5% during the third quarter. Creative Planning now owns 2,542 shares of the company’s stock valued at $529,000 after acquiring an additional 61 shares during the period. Arizona State Retirement System boosted its stake in shares of Madison Square Garden Sports by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 4,349 shares of the company’s stock valued at $818,000 after purchasing an additional 83 shares in the last quarter. Pullen Investment Management LLC grew its holdings in shares of Madison Square Garden Sports by 2.3% in the 2nd quarter. Pullen Investment Management LLC now owns 4,419 shares of the company’s stock worth $831,000 after purchasing an additional 98 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Madison Square Garden Sports by 0.3% during the 1st quarter. Swiss National Bank now owns 30,633 shares of the company’s stock worth $5,652,000 after purchasing an additional 100 shares in the last quarter. 68.94% of the stock is owned by 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.