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

Madison Square Garden Sports Corp. (NYSE:MSGS)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $232.66 and last traded at $232.32, with a volume of 49172 shares traded. The stock had previously closed at $228.27.

Wall Street Analysts Forecast Growth

Separately, Macquarie upped 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 Trading Up 2.1 %

The firm has a market cap of $5.58 billion, a PE ratio of 78.44 and a beta of 0.91. The firm has a fifty day simple moving average of $222.49 and a two-hundred day simple moving average of $205.98.

Madison Square Garden Sports (NYSE:MSGS) last issued its quarterly earnings data on Friday, November 1st. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $53.31 million for the quarter, compared to the consensus estimate of $43.71 million. During the same period in the previous year, the firm earned ($0.79) EPS. The company’s quarterly revenue was up 23.8% compared to the same quarter last year. Equities analysts expect that Madison Square Garden Sports Corp. will post 0.81 earnings per share for the current fiscal year.

Institutional Trading of Madison Square Garden Sports

Several large investors have recently bought and sold shares of MSGS. SG Americas Securities LLC purchased a new stake in shares of Madison Square Garden Sports in the 2nd quarter worth about $1,427,000. Welch Group LLC purchased a new stake in Madison Square Garden Sports in the second quarter worth about $459,000. OFI Invest Asset Management bought a new position in shares of Madison Square Garden Sports during the second quarter valued at approximately $831,000. Louisiana State Employees Retirement System lifted its holdings in shares of Madison Square Garden Sports by 1.2% during the second quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the company’s stock valued at $1,580,000 after purchasing an additional 100 shares during the last quarter. Finally, Argent Capital Management LLC boosted its position in shares of Madison Square Garden Sports by 60.6% in the 2nd quarter. Argent Capital Management LLC now owns 1,889 shares of the company’s stock worth $355,000 after purchasing an additional 713 shares in the last quarter. 68.94% of the stock is owned by 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.