Madison Square Garden Sports (NYSE:MSGS) Given New $231.00 Price Target at Wolfe Research

Posted by on Jun 2nd, 2022

Madison Square Garden Sports (NYSE:MSGS – Get Rating) had its price objective dropped by analysts at Wolfe Research from $238.00 to $231.00 in a report released on Thursday, The Fly reports. Wolfe Research’s price target indicates a potential upside of 42.72% from the company’s current price.

A number of other equities analysts also recently issued reports on MSGS. TheStreet raised Madison Square Garden Sports from a “d” rating to a “c-” rating in a report on Thursday, February 3rd. Zacks Investment Research downgraded Madison Square Garden Sports from a “hold” rating to a “sell” rating in a report on Tuesday, May 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $217.50.

Shares of MSGS opened at $161.86 on Thursday. The stock has a 50-day simple moving average of $167.22 and a 200-day simple moving average of $169.78. The stock has a market capitalization of $3.92 billion, a PE ratio of 53.95 and a beta of 0.92. Madison Square Garden Sports has a 1 year low of $151.28 and a 1 year high of $203.37.

Madison Square Garden Sports (NYSE:MSGS – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.34). The business had revenue of $337.80 million during the quarter, compared to analyst estimates of $332.95 million. Madison Square Garden Sports had a net margin of 9.28% and a negative return on equity of 35.82%. The business’s revenue for the quarter was up 84.6% compared to the same quarter last year. During the same period last year, the company earned $0.22 earnings per share.

Several hedge funds have recently bought and sold shares of MSGS. UBS Asset Management Americas Inc. boosted its holdings in shares of Madison Square Garden Sports by 484.6% in the third quarter. UBS Asset Management Americas Inc. now owns 407,795 shares of the company’s stock valued at $75,829,000 after acquiring an additional 338,041 shares during the period. Marshall Wace LLP acquired a new stake in shares of Madison Square Garden Sports during the fourth quarter worth $56,617,000. Ariel Investments LLC lifted its holdings in shares of Madison Square Garden Sports by 29.8% during the fourth quarter. Ariel Investments LLC now owns 1,068,012 shares of the company’s stock worth $185,546,000 after purchasing an additional 245,463 shares during the period. Invesco Ltd. lifted its holdings in shares of Madison Square Garden Sports by 1,105.6% during the third quarter. Invesco Ltd. now owns 245,879 shares of the company’s stock worth $45,721,000 after purchasing an additional 225,485 shares during the period. Finally, Morgan Stanley lifted its holdings in shares of Madison Square Garden Sports by 86.2% during the second quarter. Morgan Stanley now owns 398,321 shares of the company’s stock worth $68,739,000 after purchasing an additional 184,430 shares during the period. 67.12% of the stock is owned by institutional investors and hedge funds.

About Madison Square Garden Sports (Get Rating)

Madison Square Garden Sports Corp. operates as a professional sports company. The company owns and operates a portfolio of assets consists of the New York Knickerbockers of the National Basketball Association NBA and the New York Rangers of the National Hockey League NHL. Its other professional franchises include two development league teams, the Hartford Wolf Pack of the American Hockey League (AHL) and the Westchester Knicks of the NBA G League (NBAGL).

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