Madison Square Garden Sports (NYSE:MSGS) Sets New 52-Week High – Time to Buy?

Shares of Madison Square Garden Sports Corp. (NYSE:MSGS) hit a new 52-week high during trading on Wednesday . The stock traded as high as $232.66 and last traded at $232.32, with a volume of 49172 shares traded. The stock had previously closed at $228.27.

Wall Street Analysts Forecast Growth

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

Madison Square Garden Sports Stock Up 0.2 %

The stock has a 50-day simple moving average of $223.31 and a 200-day simple moving average of $206.37. The firm has a market capitalization of $5.63 billion, a PE ratio of 80.64 and a beta of 0.91.

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

Institutional Investors Weigh In On Madison Square Garden Sports

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ariel Investments LLC lifted its holdings in shares of Madison Square Garden Sports by 3.5% in the second quarter. Ariel Investments LLC now owns 970,156 shares of the company’s stock worth $182,515,000 after buying an additional 33,031 shares in the last quarter. State Street Corp increased its holdings in Madison Square Garden Sports by 1.2% during the 3rd quarter. State Street Corp now owns 549,108 shares of the company’s stock worth $114,357,000 after acquiring an additional 6,640 shares during the period. Gabelli Funds LLC lifted its stake in Madison Square Garden Sports by 0.4% in the 2nd quarter. Gabelli Funds LLC now owns 415,288 shares of the company’s stock worth $78,128,000 after purchasing an additional 1,488 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Madison Square Garden Sports by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 273,222 shares of the company’s stock valued at $56,916,000 after purchasing an additional 1,913 shares during the period. Finally, Point72 Asset Management L.P. grew its position in shares of Madison Square Garden Sports by 1,231.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 246,374 shares of the company’s stock valued at $46,350,000 after purchasing an additional 227,874 shares in the last quarter. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Sports Company Profile

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.