Morgan Stanley Cuts Madison Square Garden Sports (NYSE:MSGS) Price Target to $215.00

Madison Square Garden Sports (NYSE:MSGS - Free Report) had its price target trimmed by Morgan Stanley from $235.00 to $215.00 in a research note published on Monday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Macquarie increased their target price on shares of Madison Square Garden Sports from $240.00 to $250.00 and gave the company an "outperform" rating in a research report on Tuesday, February 25th. Susquehanna began coverage on Madison Square Garden Sports in a report on Monday, April 28th. They set a "positive" rating and a $254.00 target price on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $252.60.

Madison Square Garden Sports Stock Performance

Shares of MSGS stock traded up $0.87 on Monday, reaching $191.78. 105,539 shares of the company were exchanged, compared to its average volume of 113,391. The company has a market cap of $4.60 billion, a price-to-earnings ratio of 80.92 and a beta of 0.78. Madison Square Garden Sports has a 1 year low of $173.26 and a 1 year high of $237.99. The business has a 50-day moving average price of $191.27 and a 200 day moving average price of $209.75.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last released its earnings results on Friday, May 2nd. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of $1.48 by ($2.07). Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. The firm had revenue of $424.20 million during the quarter, compared to analysts' expectations of $436.84 million. During the same quarter last year, the business earned $1.57 EPS. The business's revenue was down 1.3% compared to the same quarter last year. As a group, equities analysts anticipate that Madison Square Garden Sports will post 0.73 earnings per share for the current year.

Insider Buying and Selling at Madison Square Garden Sports

In other news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $189.92, for a total value of $6,044,204.00. Following the transaction, the insider now owns 5,097 shares of the company's stock, valued at $968,022.24. This represents a 86.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 18.05% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Allworth Financial LP raised its stake in shares of Madison Square Garden Sports by 81.4% in the 4th quarter. Allworth Financial LP now owns 127 shares of the company's stock valued at $28,000 after acquiring an additional 57 shares during the period. Putney Financial Group LLC acquired a new position in Madison Square Garden Sports during the fourth quarter worth $28,000. Fifth Third Bancorp boosted its position in shares of Madison Square Garden Sports by 119.0% during the fourth quarter. Fifth Third Bancorp now owns 138 shares of the company's stock worth $31,000 after buying an additional 75 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of Madison Square Garden Sports in the fourth quarter valued at $43,000. Finally, Versant Capital Management Inc lifted its stake in Madison Square Garden Sports by 35.3% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the company's stock worth $53,000 after acquiring an additional 61 shares in the last quarter. Institutional investors and hedge funds 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.