Madison Square Garden Sports (NYSE:MSGS) Shares Gap Down – Should You Sell?

Madison Square Garden Sports Corp. (NYSE:MSGS)’s share price gapped down before the market opened on Friday . The stock had previously closed at $210.37, but opened at $204.61. Madison Square Garden Sports shares last traded at $207.37, with a volume of 59,627 shares traded.

Analyst Ratings Changes

Separately, Macquarie upped their price target on Madison Square Garden Sports from $235.00 to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th.

Madison Square Garden Sports Stock Down 3.4 %

The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 69.83 and a beta of 0.91. The firm has a 50 day moving average of $222.18 and a two-hundred day moving average of $214.88.

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). The business had revenue of $357.80 million during the quarter, compared to the consensus estimate of $352.68 million. Madison Square Garden Sports had a negative return on equity of 23.81% and a net margin of 6.75%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 earnings per share. Sell-side analysts forecast that Madison Square Garden Sports Corp. will post 0.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP raised its holdings in shares of Madison Square Garden Sports by 81.4% in the 4th quarter. Allworth Financial LP now owns 127 shares of the company’s stock valued at $28,000 after acquiring an additional 57 shares in the last quarter. Fifth Third Bancorp grew its position in Madison Square Garden Sports by 119.0% during the 4th quarter. Fifth Third Bancorp now owns 138 shares of the company’s stock worth $31,000 after acquiring an additional 75 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in Madison Square Garden Sports in the 4th quarter worth approximately $43,000. Venturi Wealth Management LLC lifted its stake in shares of Madison Square Garden Sports by 31.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 223 shares of the company’s stock valued at $46,000 after purchasing an additional 53 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of Madison Square Garden Sports by 35.3% in the 4th quarter. Versant Capital Management Inc now owns 234 shares of the company’s stock valued at $53,000 after purchasing an additional 61 shares during the period. Hedge funds and other institutional investors own 68.94% of the company’s stock.

About Madison Square Garden Sports

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.