Macquarie Issues Positive Forecast for Madison Square Garden Sports (NYSE:MSGS) Stock Price

Madison Square Garden Sports (NYSE:MSGS) had its target price lifted by analysts at Macquarie from $240.00 to $250.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Macquarie’s target price indicates a potential upside of 24.34% from the company’s previous close.

Madison Square Garden Sports Stock Down 0.8 %

Shares of NYSE MSGS traded down $1.60 during mid-day trading on Tuesday, reaching $201.07. 35,467 shares of the company were exchanged, compared to its average volume of 97,909. Madison Square Garden Sports has a twelve month low of $178.35 and a twelve month high of $237.99. The company’s 50-day simple moving average is $216.51 and its 200-day simple moving average is $216.12. The stock has a market capitalization of $4.83 billion, a P/E ratio of 84.84 and a beta of 0.91.

Madison Square Garden Sports (NYSE:MSGS) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.25). The firm had revenue of $357.80 million during the quarter, compared to the consensus estimate 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 business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 earnings per share. As a group, equities research analysts expect that Madison Square Garden Sports will post 0.73 EPS for the current year.

Institutional Investors Weigh In On Madison Square Garden Sports

Hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning lifted its position in shares of Madison Square Garden Sports by 2.5% during the 3rd 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. Blue Trust Inc. raised its stake in Madison Square Garden Sports by 326.5% in the third quarter. Blue Trust Inc. now owns 418 shares of the company’s stock valued at $87,000 after purchasing an additional 320 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Madison Square Garden Sports during the third quarter worth about $119,000. US Bancorp DE grew its stake in Madison Square Garden Sports by 8.4% during the third quarter. US Bancorp DE now owns 2,530 shares of the company’s stock worth $527,000 after buying an additional 196 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in Madison Square Garden Sports by 75.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 68,632 shares of the company’s stock valued at $14,293,000 after buying an additional 29,445 shares during the period. 68.94% of the stock is currently owned by institutional investors and hedge funds.

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.