Morgan Stanley Issues Pessimistic Forecast for Madison Square Garden Sports (NYSE:MSGS) Stock Price

Madison Square Garden Sports (NYSE:MSGS) had its target price decreased by Morgan Stanley from $235.00 to $215.00 in a research report released on Monday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other equities research analysts also recently weighed in on MSGS. Susquehanna began coverage on Madison Square Garden Sports in a report on Monday, April 28th. They issued a “positive” rating and a $254.00 target price on the stock. Macquarie raised their price objective on Madison Square Garden Sports from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th.

Madison Square Garden Sports Stock Up 0.8 %

MSGS stock opened at $188.83 on Monday. Madison Square Garden Sports has a 52 week low of $173.26 and a 52 week high of $237.99. The business has a 50-day simple moving average of $192.08 and a 200 day simple moving average of $210.38. The company has a market cap of $4.53 billion, a PE ratio of 79.68 and a beta of 0.78.

Madison Square Garden Sports (NYSE:MSGS) last issued its earnings results on Friday, May 2nd. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of $1.48 by ($2.07). The firm had revenue of $424.20 million during the quarter, compared to analyst estimates of $436.84 million. Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. Madison Square Garden Sports’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.57 earnings per share. On average, analysts anticipate that Madison Square Garden Sports will post 0.73 EPS for the current fiscal year.

Insider Activity

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $189.92, for a total transaction of $6,044,204.00. Following the completion of the transaction, the insider now directly owns 5,097 shares of the company’s stock, valued at $968,022.24. This trade represents a 86.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 22.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Madison Square Garden Sports

Several institutional investors and hedge funds have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. raised its position in shares of Madison Square Garden Sports by 1,854.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 498,607 shares of the company’s stock worth $112,526,000 after acquiring an additional 473,090 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Madison Square Garden Sports by 523.2% during the 1st quarter. Victory Capital Management Inc. now owns 347,800 shares of the company’s stock worth $67,724,000 after buying an additional 291,989 shares in the last quarter. Norges Bank acquired a new position in shares of Madison Square Garden Sports during the 4th quarter valued at $54,052,000. GAMMA Investing LLC boosted its stake in Madison Square Garden Sports by 14,886.7% during the first quarter. GAMMA Investing LLC now owns 137,278 shares of the company’s stock worth $26,731,000 after acquiring an additional 136,362 shares in the last quarter. Finally, Empirical Asset Management LLC acquired a new stake in Madison Square Garden Sports in the fourth quarter worth $26,120,000. Institutional investors and hedge funds own 68.94% of the company’s stock.

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.