Susquehanna Initiates Coverage on Madison Square Garden Sports (NYSE:MSGS)

Stock analysts at Susquehanna initiated coverage on shares of Madison Square Garden Sports (NYSE:MSGS) in a research report issued on Monday,Briefing.com Automated Import reports. The brokerage set a “positive” rating and a $254.00 price target on the stock. Susquehanna’s price objective would indicate a potential upside of 30.36% from the stock’s current price.

Separately, Macquarie increased their price target on Madison Square Garden Sports from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th.

Madison Square Garden Sports Price Performance

MSGS stock opened at $194.84 on Monday. The company’s 50 day simple moving average is $193.53 and its 200-day simple moving average is $211.50. The firm has a market capitalization of $4.68 billion, a P/E ratio of 81.94 and a beta of 0.81. Madison Square Garden Sports has a 52-week low of $173.26 and a 52-week high of $237.99.

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

Insider Buying and Selling

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $189.92, for a total value of $6,044,204.00. Following the completion of the sale, the insider now owns 5,097 shares in the company, valued at approximately $968,022.24. This represents a 86.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 22.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Barclays PLC grew its stake in shares of Madison Square Garden Sports by 8.4% during the 3rd quarter. Barclays PLC now owns 14,668 shares of the company’s stock worth $3,056,000 after acquiring an additional 1,131 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Madison Square Garden Sports by 1.3% in the third quarter. Franklin Resources Inc. now owns 99,847 shares of the company’s stock valued at $21,706,000 after acquiring an additional 1,326 shares during the last quarter. Inspire Trust Co. N.A. boosted its position in Madison Square Garden Sports by 18.6% during the third quarter. Inspire Trust Co. N.A. now owns 7,000 shares of the company’s stock valued at $1,458,000 after purchasing an additional 1,100 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Madison Square Garden Sports by 35.3% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the company’s stock worth $53,000 after purchasing an additional 61 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Madison Square Garden Sports by 43.6% in the 4th quarter. GAMMA Investing LLC now owns 916 shares of the company’s stock valued at $207,000 after buying an additional 278 shares during the last quarter. 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.