Madison Square Garden Sports (NYSE:MSGS) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Madison Square Garden Sports (NYSE:MSGSGet Rating) from a hold rating to a sell rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “Madison Square Garden Sports Corp. is a professional sports company, with a collection of assets which includes the New York Knicks and the New York Rangers as well as development league teams – the Westchester Knicks and the Hartford Wolf Pack; and esports teams. The company also owns professional sports team performance centers – the MSG Training Center in Greenburgh, NY and the CLG Performance Center in Los Angeles, CA. Madison Square Garden Sports Corp., formerly known as Madison Square Garden Company, is based in New York, United States. “

Separately, TheStreet upgraded shares of Madison Square Garden Sports from a d rating to a c- rating in a report on Thursday, February 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $211.50.

NYSE MSGS opened at $154.01 on Tuesday. The company has a 50-day simple moving average of $169.36 and a two-hundred day simple moving average of $172.70. Madison Square Garden Sports has a 12-month low of $151.28 and a 12-month high of $203.37. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 51.34 and a beta of 0.92.

Madison Square Garden Sports (NYSE:MSGSGet Rating) last released its earnings results on Thursday, May 5th. The company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.34). The company had revenue of $337.80 million during the quarter, compared to the consensus estimate of $332.95 million. Madison Square Garden Sports had a net margin of 9.28% and a negative return on equity of 34.29%. The company’s revenue was up 84.6% on a year-over-year basis. During the same period last year, the firm posted $0.22 EPS.

Institutional investors have recently made changes to their positions in the stock. Morgan Stanley increased its position in shares of Madison Square Garden Sports by 86.2% during the second quarter. Morgan Stanley now owns 398,321 shares of the company’s stock valued at $68,739,000 after buying an additional 184,430 shares during the period. Commonwealth Equity Services LLC purchased a new position in shares of Madison Square Garden Sports during the 3rd quarter worth approximately $200,000. Raymond James Financial Services Advisors Inc. raised its position in shares of Madison Square Garden Sports by 64.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,697 shares of the company’s stock worth $501,000 after acquiring an additional 1,059 shares in the last quarter. EagleClaw Capital Managment LLC raised its position in shares of Madison Square Garden Sports by 1.6% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 13,675 shares of the company’s stock worth $2,541,000 after acquiring an additional 220 shares in the last quarter. Finally, Swiss National Bank lifted its stake in shares of Madison Square Garden Sports by 0.3% in the 3rd quarter. Swiss National Bank now owns 32,433 shares of the company’s stock valued at $6,031,000 after purchasing an additional 100 shares during the period. Institutional investors own 67.12% of the company’s stock.

About Madison Square Garden Sports (Get Rating)

Madison Square Garden Sports Corp. operates as a professional sports company. The company owns and operates a portfolio of assets consists of the New York Knickerbockers of the National Basketball Association NBA and the New York Rangers of the National Hockey League NHL. Its other professional franchises include two development league teams, the Hartford Wolf Pack of the American Hockey League (AHL) and the Westchester Knicks of the NBA G League (NBAGL).

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