Madison Square Garden Sports (NYSE:MSGS) Coverage Initiated by Analysts at Susquehanna

Susquehanna initiated coverage on shares of Madison Square Garden Sports (NYSE:MSGS - Free Report) in a research report released on Monday, MarketBeat reports. The firm issued a positive rating and a $254.00 price target on the stock.

Separately, Macquarie boosted their target price on shares of Madison Square Garden Sports from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Tuesday, February 25th.

Madison Square Garden Sports Trading Down 0.6 %

Shares of NYSE MSGS traded down $1.19 during midday trading on Monday, reaching $192.25. The company's stock had a trading volume of 170,767 shares, compared to its average volume of 113,104. Madison Square Garden Sports has a fifty-two week low of $173.26 and a fifty-two week high of $237.99. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 81.12 and a beta of 0.81. The stock has a 50 day simple moving average of $192.83 and a 200-day simple moving average of $211.11.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.25). The firm had revenue of $357.80 million for the quarter, compared to analyst estimates of $352.68 million. Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. Madison Square Garden Sports's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share. As a group, equities analysts anticipate that Madison Square Garden Sports will post 0.73 EPS for the current year.

Insider Buying and Selling at Madison Square Garden Sports

In other Madison Square Garden Sports news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the company's stock in a transaction on 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 transaction, the insider now directly owns 5,097 shares in the company, valued at $968,022.24. The trade was a 86.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 22.10% of the company's stock.

Hedge Funds Weigh In On Madison Square Garden Sports

Several institutional investors and hedge funds have recently modified their holdings of the stock. OFI Invest Asset Management bought a new stake in shares of Madison Square Garden Sports in the fourth quarter valued at about $1,032,000. Proficio Capital Partners LLC bought a new stake in shares of Madison Square Garden Sports in the fourth quarter valued at about $3,413,000. Levin Capital Strategies L.P. boosted its position in shares of Madison Square Garden Sports by 118.5% in the fourth quarter. Levin Capital Strategies L.P. now owns 3,039 shares of the company's stock valued at $686,000 after acquiring an additional 1,648 shares during the period. Wealthfront Advisers LLC bought a new stake in shares of Madison Square Garden Sports in the fourth quarter valued at about $16,844,000. Finally, SG Americas Securities LLC bought a new stake in shares of Madison Square Garden Sports in the fourth quarter valued at about $685,000. 68.94% of the stock is currently owned by institutional investors and hedge funds.

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.