Macquarie Increases Madison Square Garden Sports (NYSE:MSGS) Price Target to $250.00

Madison Square Garden Sports (NYSE:MSGS) had its price objective hoisted by equities researchers at Macquarie from $240.00 to $250.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Macquarie’s price target indicates a potential upside of 23.40% from the company’s previous close.

Madison Square Garden Sports Stock Performance

Shares of NYSE:MSGS opened at $202.59 on Tuesday. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 85.48 and a beta of 0.91. Madison Square Garden Sports has a 1-year low of $178.35 and a 1-year high of $237.99. The company has a 50 day moving average price of $215.43 and a 200 day moving average price of $216.06.

Madison Square Garden Sports (NYSE:MSGS) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.25). Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The firm had revenue of $357.80 million during the quarter, compared to analyst estimates of $352.68 million. During the same period in the prior year, the business posted $0.59 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, sell-side analysts expect that Madison Square Garden Sports will post 0.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Madison Square Garden Sports

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Heck Capital Advisors LLC purchased a new stake in Madison Square Garden Sports in the 4th quarter worth approximately $43,000. Pullen Investment Management LLC lifted its position in Madison Square Garden Sports by 46.2% in the 4th quarter. Pullen Investment Management LLC now owns 7,431 shares of the company’s stock worth $1,677,000 after buying an additional 2,347 shares in the last quarter. Putney Financial Group LLC bought a new position in shares of Madison Square Garden Sports during the 4th quarter valued at $28,000. Mackenzie Financial Corp bought a new position in shares of Madison Square Garden Sports during the 4th quarter valued at $9,641,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Madison Square Garden Sports by 15.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 43,926 shares of the company’s stock valued at $9,913,000 after purchasing an additional 5,864 shares in the last quarter. Hedge funds and other institutional investors 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.