Madison Square Garden Sports Corp. (NYSE:MSGS – Get Rating) was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 311,300 shares, a drop of 16.7% from the August 31st total of 373,500 shares. Based on an average daily trading volume, of 112,400 shares, the days-to-cover ratio is currently 2.8 days. Currently, 2.0% of the shares of the company are sold short.
Institutional Trading of Madison Square Garden Sports
A number of hedge funds have recently modified their holdings of MSGS. Ariel Investments LLC increased its holdings in Madison Square Garden Sports by 5.1% during the 1st quarter. Ariel Investments LLC now owns 1,122,903 shares of the company's stock valued at $201,403,000 after purchasing an additional 54,891 shares in the last quarter. Southeastern Asset Management Inc. TN increased its stake in shares of Madison Square Garden Sports by 7.4% in the 4th quarter. Southeastern Asset Management Inc. TN now owns 927,076 shares of the company's stock valued at $161,061,000 after buying an additional 63,502 shares during the period. Gamco Investors INC. ET AL increased its stake in shares of Madison Square Garden Sports by 0.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 641,995 shares of the company's stock valued at $115,148,000 after buying an additional 4,297 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Madison Square Garden Sports by 22.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 446,274 shares of the company's stock valued at $67,387,000 after buying an additional 83,128 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of Madison Square Garden Sports in the 4th quarter valued at $56,617,000. Institutional investors own 63.91% of the company's stock.
Get Madison Square Garden Sports alerts:Analysts Set New Price Targets
A number of analysts have issued reports on the company. Macquarie lowered their target price on Madison Square Garden Sports from $240.00 to $230.00 and set an "outperform" rating on the stock in a report on Tuesday, July 5th. Wolfe Research lowered their target price on Madison Square Garden Sports from $238.00 to $231.00 and set an "outperform" rating on the stock in a report on Thursday, June 2nd. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $220.25.
Madison Square Garden Sports Stock Down 2.1 %
Shares of MSGS stock traded down $2.98 during mid-day trading on Thursday, reaching $137.93. The stock had a trading volume of 3,241 shares, compared to its average volume of 124,858. The firm's 50 day simple moving average is $156.67 and its 200 day simple moving average is $160.53. Madison Square Garden Sports has a one year low of $138.86 and a one year high of $203.37. The firm has a market cap of $3.34 billion, a PE ratio of 66.08 and a beta of 0.85.Madison Square Garden Sports (NYSE:MSGS – Get Rating) last announced its quarterly earnings data on Thursday, August 18th. The company reported $1.11 EPS for the quarter, topping analysts' consensus estimates of ($0.32) by $1.43. Madison Square Garden Sports had a negative return on equity of 26.73% and a net margin of 6.23%. The company had revenue of $175.20 million during the quarter, compared to the consensus estimate of $93.49 million. During the same quarter last year, the company earned $2.03 EPS. The company's quarterly revenue was up 19.3% on a year-over-year basis. Sell-side analysts forecast that Madison Square Garden Sports will post 1.44 earnings per share for the current fiscal year.
About Madison Square Garden Sports
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Madison Square Garden Sports Corp. operates as a professional sports company. 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 two development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.
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