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

Madison Square Garden Sports Corp. (NYSE:MSGS)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $217.89 and last traded at $217.39, with a volume of 52810 shares changing hands. The stock had previously closed at $216.29.

Analyst Ratings Changes

Separately, Macquarie decreased their price target on Madison Square Garden Sports from $240.00 to $235.00 and set an “outperform” rating on the stock in a research note on Friday, August 16th.

Madison Square Garden Sports Stock Up 0.1 %

The company has a market cap of $5.26 billion, a price-to-earnings ratio of 223.94 and a beta of 0.93. The company has a fifty day simple moving average of $206.76 and a two-hundred day simple moving average of $194.93.

Madison Square Garden Sports (NYSE:MSGS) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.73. The firm had revenue of $227.25 million for the quarter, compared to analysts’ expectations of $167.71 million. Madison Square Garden Sports had a net margin of 5.72% and a negative return on equity of 18.69%. The firm’s revenue was up 79.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.39) EPS. On average, research analysts predict that Madison Square Garden Sports Corp. will post 1.42 EPS for the current year.

Insider Transactions at Madison Square Garden Sports

In related news, CEO James Lawrence Dolan sold 629 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $209.30, for a total value of $131,649.70. Following the sale, the chief executive officer now owns 10,192 shares of the company’s stock, valued at approximately $2,133,185.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 22.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in shares of Madison Square Garden Sports by 80.6% in the first quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock valued at $42,000 after buying an additional 100 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Madison Square Garden Sports by 179.8% during the 2nd quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock worth $49,000 after purchasing an additional 169 shares during the period. Quent Capital LLC boosted its holdings in shares of Madison Square Garden Sports by 312.4% during the first quarter. Quent Capital LLC now owns 565 shares of the company’s stock worth $104,000 after purchasing an additional 428 shares during the last quarter. BNP Paribas purchased a new stake in shares of Madison Square Garden Sports in the first quarter valued at $111,000. Finally, Dnca Finance acquired a new position in Madison Square Garden Sports in the second quarter valued at $113,000. Institutional investors and hedge funds 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.