Madison Square Garden Sports (NYSE:MSGS) Hits New 12-Month High – Should You Buy?

Madison Square Garden Sports Corp. (NYSE:MSGS) reached a new 52-week high during trading on Tuesday . The company traded as high as $237.99 and last traded at $235.70, with a volume of 710 shares trading hands. The stock had previously closed at $235.85.

Analyst Upgrades and Downgrades

Separately, Macquarie lifted their target price on Madison Square Garden Sports from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th.

Madison Square Garden Sports Price Performance

The stock has a market cap of $5.42 billion, a PE ratio of 77.79 and a beta of 0.91. The company has a 50-day simple moving average of $224.67 and a 200-day simple moving average of $207.88.

Madison Square Garden Sports (NYSE:MSGS) last issued its earnings results on Friday, November 1st. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.55. The company had revenue of $53.31 million for the quarter, compared to analyst estimates of $43.71 million. Madison Square Garden Sports had a net margin of 6.75% and a negative return on equity of 23.81%. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.79) earnings per share. On average, equities analysts expect that Madison Square Garden Sports Corp. will post 0.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Madison Square Garden Sports

Several hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. raised its holdings in shares of Madison Square Garden Sports by 75.1% in the third quarter. Harbor Capital Advisors Inc. now owns 68,632 shares of the company’s stock worth $14,293,000 after acquiring an additional 29,445 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Madison Square Garden Sports during the second quarter worth approximately $543,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Madison Square Garden Sports during the 3rd quarter worth $861,000. State Street Corp lifted its position in Madison Square Garden Sports by 1.2% during the third quarter. State Street Corp now owns 549,108 shares of the company’s stock worth $114,357,000 after buying an additional 6,640 shares during the period. Finally, Garner Asset Management Corp acquired a new position in shares of Madison Square Garden Sports during the 3rd quarter valued at about $639,000. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

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.