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

Madison Square Garden Sports Corp. (NYSE:MSGS)’s stock price hit a new 52-week high on Wednesday . The company 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.

Analysts Set New Price Targets

Separately, Macquarie lifted their price target 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 Trading Up 0.2 %

The firm has a market cap of $5.63 billion, a P/E ratio of 80.64 and a beta of 0.91. The company’s 50-day moving average is $223.31 and its two-hundred day moving average is $206.37.

Madison Square Garden Sports (NYSE:MSGS) last posted its earnings results on Friday, November 1st. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.55. 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 $53.31 million for the quarter, compared to analyst estimates of $43.71 million. During the same quarter last year, the company earned ($0.79) earnings per share. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. Research analysts anticipate that Madison Square Garden Sports Corp. will post 0.81 EPS for the current fiscal year.

Institutional Trading of Madison Square Garden Sports

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Madison Square Garden Sports during the second quarter worth about $1,427,000. OFI Invest Asset Management purchased a new stake in shares of Madison Square Garden Sports during the second quarter valued at approximately $831,000. Louisiana State Employees Retirement System lifted its holdings in Madison Square Garden Sports by 1.2% during the second quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the company’s stock worth $1,580,000 after acquiring an additional 100 shares during the period. Argent Capital Management LLC boosted its position in Madison Square Garden Sports by 60.6% in the second quarter. Argent Capital Management LLC now owns 1,889 shares of the company’s stock worth $355,000 after purchasing an additional 713 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Madison Square Garden Sports by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 113,969 shares of the company’s stock worth $21,441,000 after purchasing an additional 2,096 shares during the last quarter. 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.