Seaport Global Remains a Hold on Madison Square Garden Sports (MSGS)

In a report released today, David Joyce from Seaport Global maintained a Hold rating on Madison Square Garden Sports (MSGS – Research Report). The company’s shares closed yesterday at $183.31.

According to TipRanks, Joyce is a 2-star analyst with an average return of 0.0% and a 50.57% success rate. Joyce covers the Communication Services sector, focusing on stocks such as Paramount Global Class B, Live Nation Entertainment, and Endeavor Group Holdings Inc.

Currently, the analyst consensus on Madison Square Garden Sports is a Moderate Buy with an average price target of $235.00.

Based on Madison Square Garden Sports’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $326.9 million and a net profit of $14.22 million. In comparison, last year the company earned a revenue of $353.69 million and had a net profit of $22.49 million

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MSGS in relation to earlier this year.

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Madison Square Garden Sports (MSGS) Company Description:

The Madison Square Garden Co. engages in the provision sports and entertainment business. Its sports franchises include the New York Knicks (Knicks), National Basketball Association (NBA), New York Rangers (Rangers), National Hockey League (NHL), New York Liberty (Liberty), Women’s National Basketball Association (WNBA), Hartford Wolf Pack of the American Hockey League (AHL), Westchester Knicks of the NBA G League (NBAGL), and Counter Logic Gaming (CLG). It operates through the following segments: Madison Square Garden (MSG) Entertainment, MSG Sports, and Corporate and Others. The MSG Entertainment segment features its live entertainment events, including concerts, family shows, performing arts and special events, which present or host in its diverse collection of venues. The MSG Sports segment promotes, produces, and presents a broad array of other live sporting events, such as professional boxing, college basketball, college hockey, professional bull riding, mixed martial arts, esports, tennis, and college wrestling. The company was founded on March 4, 2015 and is headquartered in New York, NY.