Madison Square Garden Sports (NYSE:MSGS) Receives “Buy” Rating from Guggenheim

Guggenheim restated their buy rating on shares of Madison Square Garden Sports (NYSE:MSGS) in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $314.00 target price on the stock.

Other equities research analysts have also issued research reports about the stock. Macquarie raised their price target on shares of Madison Square Garden Sports from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 25th. Susquehanna began coverage on shares of Madison Square Garden Sports in a report on Monday, April 28th. They issued a “positive” rating and a $254.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on Madison Square Garden Sports from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Monday. Finally, Morgan Stanley lowered their price target on Madison Square Garden Sports from $235.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $252.60.

Madison Square Garden Sports Trading Up 0.5 %

Shares of MSGS stock opened at $191.18 on Tuesday. Madison Square Garden Sports has a 12 month low of $173.26 and a 12 month high of $237.99. The business’s 50-day moving average price is $191.41 and its 200-day moving average price is $209.93. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 80.67 and a beta of 0.78.

Madison Square Garden Sports (NYSE:MSGS) last announced its earnings results on Friday, May 2nd. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of $1.48 by ($2.07). Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. The business had revenue of $424.20 million for the quarter, compared to the consensus estimate of $436.84 million. During the same quarter in the previous year, the company earned $1.57 EPS. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, sell-side analysts predict that Madison Square Garden Sports will post 0.73 earnings per share for the current fiscal year.

Insider Activity

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the 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 completion of the sale, the insider now owns 5,097 shares in the company, valued at approximately $968,022.24. This trade represents a 86.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 22.10% of the company’s stock.

Institutional Investors Weigh In On Madison Square Garden Sports

Several large investors have recently bought and sold shares of MSGS. T. Rowe Price Investment Management Inc. raised its stake in shares of Madison Square Garden Sports by 1,854.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 498,607 shares of the company’s stock valued at $112,526,000 after acquiring an additional 473,090 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Madison Square Garden Sports by 523.2% in the 1st quarter. Victory Capital Management Inc. now owns 347,800 shares of the company’s stock valued at $67,724,000 after purchasing an additional 291,989 shares in the last quarter. Norges Bank bought a new stake in Madison Square Garden Sports during the 4th quarter valued at $54,052,000. GAMMA Investing LLC grew its stake in Madison Square Garden Sports by 14,886.7% in the first quarter. GAMMA Investing LLC now owns 137,278 shares of the company’s stock valued at $26,731,000 after purchasing an additional 136,362 shares during the last quarter. Finally, Empirical Asset Management LLC bought a new position in shares of Madison Square Garden Sports during the 4th quarter worth approximately $26,120,000. 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.