Madison Square Garden Sports (NYSE:MSGS) Hits New 52-Week High – Here’s What Happened

Madison Square Garden Sports Corp. (NYSE:MSGS) reached a new 52-week high on Monday . The company traded as high as $232.58 and last traded at $231.52, with a volume of 6781 shares. The stock had previously closed at $229.83.

Wall Street Analysts Forecast Growth

Separately, Macquarie lifted their price objective on shares of 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 Stock Up 0.7 %

The company has a 50 day moving average of $218.12 and a 200 day moving average of $202.94. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of 79.17 and a beta of 0.92.

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

Hedge Funds Weigh In On Madison Square Garden Sports

A number of hedge funds and other institutional investors have recently bought and sold shares of MSGS. Sanctuary Advisors LLC acquired a new position in shares of Madison Square Garden Sports during the third quarter valued at $264,000. Geode Capital Management LLC increased its stake in shares of Madison Square Garden Sports by 0.7% in the third quarter. Geode Capital Management LLC now owns 273,222 shares of the company’s stock valued at $56,916,000 after purchasing an additional 1,913 shares during the period. Insight Inv LLC boosted its position in shares of Madison Square Garden Sports by 1.5% during the third quarter. Insight Inv LLC now owns 6,665 shares of the company’s stock worth $1,388,000 after buying an additional 100 shares during the period. Barclays PLC increased its position in Madison Square Garden Sports by 8.4% in the 3rd quarter. Barclays PLC now owns 14,668 shares of the company’s stock valued at $3,056,000 after acquiring an additional 1,131 shares during the period. Finally, Y Intercept Hong Kong Ltd increased its position in Madison Square Garden Sports by 129.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,682 shares of the company’s stock valued at $559,000 after acquiring an additional 1,514 shares during the period. 68.94% of the stock is currently owned by institutional investors and hedge funds.

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.