Madison Square Garden Sports (NYSE:MSGS) Shares Gap Down – Should You Sell?

Madison Square Garden Sports Corp. (NYSE:MSGS)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $210.37, but opened at $204.61. Madison Square Garden Sports shares last traded at $207.37, with a volume of 59,627 shares changing hands.

Wall Street Analyst Weigh In

Separately, Macquarie boosted their price objective on 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 Price Performance

The company has a market capitalization of $4.87 billion, a PE ratio of 69.83 and a beta of 0.91. The business has a 50-day moving average of $222.18 and a 200 day moving average of $214.88.

Madison Square Garden Sports (NYSE:MSGS) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.25). Madison Square Garden Sports had a negative return on equity of 23.81% and a net margin of 6.75%. The company had revenue of $357.80 million for the quarter, compared to the consensus estimate of $352.68 million. During the same period in the previous year, the firm earned $0.59 earnings per share. The company’s revenue was up 9.5% compared to the same quarter last year. As a group, research analysts anticipate that Madison Square Garden Sports Corp. will post 0.81 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MSGS. Allworth Financial LP lifted its holdings in Madison Square Garden Sports by 81.4% during the fourth quarter. Allworth Financial LP now owns 127 shares of the company’s stock worth $28,000 after buying an additional 57 shares during the period. Fifth Third Bancorp grew its position in shares of Madison Square Garden Sports by 119.0% during the 4th quarter. Fifth Third Bancorp now owns 138 shares of the company’s stock valued at $31,000 after acquiring an additional 75 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of Madison Square Garden Sports during the 4th quarter valued at about $43,000. Venturi Wealth Management LLC lifted its stake in Madison Square Garden Sports by 31.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 223 shares of the company’s stock worth $46,000 after purchasing an additional 53 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Madison Square Garden Sports by 35.3% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the company’s stock valued at $53,000 after buying an additional 61 shares during the period. 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.