Madison Square Garden Sports (NYSE:MSGS) Given New $215.00 Price Target at Morgan Stanley

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) had its price target lowered by stock analysts at Morgan Stanley from $235.00 to $215.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price target points to a potential upside of 15.75% from the company's current price.

Several other equities research analysts have also recently weighed in on MSGS. Susquehanna initiated coverage on Madison Square Garden Sports in a research note on Monday, April 28th. They set a "positive" rating and a $254.00 target price for the company. Macquarie upped 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 report on Tuesday, February 25th.

Madison Square Garden Sports Trading Down 0.9 %

NYSE:MSGS traded down $1.62 during mid-day trading on Monday, hitting $185.74. The stock had a trading volume of 9,209 shares, compared to its average volume of 112,610. Madison Square Garden Sports has a twelve month low of $173.26 and a twelve month high of $237.99. The company has a market capitalization of $4.46 billion, a PE ratio of 78.26 and a beta of 0.78. The stock has a 50-day simple moving average of $192.36 and a two-hundred day simple moving average of $210.59.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last issued its earnings results on Friday, May 2nd. The company reported ($0.59) EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($2.07). Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The firm had revenue of $424.20 million for the quarter, compared to analyst estimates of $436.84 million. During the same quarter in the previous year, the firm posted $1.57 EPS. The business's revenue for the quarter was down 1.3% on a year-over-year basis. Sell-side analysts predict that Madison Square Garden Sports will post 0.73 EPS for the current fiscal 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 dated Monday, March 10th. The shares were sold at an average price of $189.92, for a total value of $6,044,204.00. Following the completion of the sale, the insider now directly owns 5,097 shares of the company's stock, valued at approximately $968,022.24. This represents a 86.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.10% of the stock is owned by company insiders.

Institutional Trading of Madison Square Garden Sports

Several institutional investors and hedge funds have recently added to or reduced their stakes in MSGS. Allworth Financial LP increased its holdings in shares of Madison Square Garden Sports by 81.4% in the fourth quarter. Allworth Financial LP now owns 127 shares of the company's stock valued at $28,000 after purchasing an additional 57 shares during the period. Putney Financial Group LLC acquired a new position in Madison Square Garden Sports in the 4th quarter valued at $28,000. Fifth Third Bancorp raised its position in Madison Square Garden Sports by 119.0% during the 4th quarter. Fifth Third Bancorp now owns 138 shares of the company's stock worth $31,000 after buying an additional 75 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in Madison Square Garden Sports during the 4th quarter worth $43,000. Finally, Versant Capital Management Inc lifted its stake in shares of Madison Square Garden Sports by 35.3% in 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 during the period. 68.94% of the stock is owned by hedge funds and other institutional investors.

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.

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