Barclays launched its Madison Square Garden [MSGS] rating to the equivalent of Overweight and assigned the price target of $224.0, in a research note dated 2021-01-11. That figure represents around a 22.89% premium from where the company’s shares closed on Friday. Other analysts also revised their coverage, with Morgan Stanley’s analysts upgrading the shares from “an Equal-weight” rating to “an Overweight” rating in a research note to investors issued in late July. Meanwhile, Wolfe Research had launched its coverage on MSGS with “an Outperform”, in a research note produced for clients June 25, 2020. In addition, Evercore ISI launched coverage on May 19, 2020. The research firm rated MSGS “an Outperform”.
Is Madison Square Garden Sports Corp. [NYSE:MSGS] a Good Buy Right Now?
It should be noted that MSGS technical indicators for short, intermediate as well as long term progress have placed an overall average of 88% as Buy. The average signal changed from 88% Buy in the last week and compares with 56% Buy in the past month. Data from Madison Square Garden Sports Corp.’s Trend Spotter indicated that the signals were Weakest. The stock current average is 0.15 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.22 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 50% Buy and the 100-day average volume stands at 0.21 million shares.
MSGS Price Performance
On Wall Street, Madison Square Garden Sports Corp. [NYSE:MSGS] finished Friday’s session down -1.07% at $182.54. The stock went up to $185.96 at the same session while its lowest single day price was $180.82. In the last five days, it saw a fall of about -0.85%, Madison Square Garden Sports Corp. shares dropped by almost -0.85% since the beginning of the year. However, the share price has dropped to as low as -19.09% below its one year high. On 01/06/21, the company shares recorded $188.54, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/05/21, the same year at $178.36. The company’s shares have declined by -14.28% in the past year. The 50-day SMA achieved is $172.12 while the 200-day SMA is $167.91. Volume gained to 0.13 million from 0.13 million in the previous session.
MSGS Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 180.25 level, and in case of violation of this particular level, it will cause more drop to 177.97 level. On the upper level, 188.25 is still the key resistance. The stock may increase to the subsequent resistance at 185.39. The Relative Strength Index (RSI) pinned on the 14-day chart is 56.29, implying a neutral technical stance while the MACD stands at 3.30, meaning price will increase in the next trading period. Percent R indicator moved to 38.73%, implying low price movement. Stochastic %K at 73.85% suggest selling the stock.
What is the short interest in Madison Square Garden Sports Corp.?
Short interest in the Madison Square Garden Sports Corp. stock has surged, increasing by 17830.0 shares to total 0.99 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 1.01 million, data from Yahoo Finance shows. The decrease of -1.8% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 5.24% of the overall float for the stock.
Madison Square Garden Sports Corp.’s Biggest Shareholders: Who Owns Madison Square Garden Sports Corp. [MSGS]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 1,572,622 shares or roughly 8.03% of the outstanding MSGS shares. This means their shares have reduced by -83,610 from the 1,572,622 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, D1 Capital Partners LLC updated stake is worth $208,286,448. Details in the latest 13F filings reveal that ClearBridge Investments LLC disposed off their -0.27% stake valued at $155,842,240 while Blue Harbour Group LP added theirs at $141,550,979. During the last quarter, ClearBridge Investments LLC liquidated -2,500 of its shares in Madison Square Garden Sports Corp. while Blue Harbour Group LP bought 72,445 shares. The Marshall Wace Asia Ltd.’s holdings currently number 833,770 shares at $152196375.8. According to the firm’s last 13F report, Long Pond Capital LP shares in the company at filing stood at 750,918 shares, roughly $127,205,509.
MSGS Earnings Forecast For The Current Quarter
Madison Square Garden Sports Corp. [MSGS] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $26.61M and an earnings per share of -$1.55 for Dec 2020. Looking further ahead, the company is expected to report revenue of $144.19M at an EPS of -$2.24 for Mar 2021. The estimates represent downside of 106.70% and 122.30% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
MSGS Earnings Estimates For The Current Year
For the financial year, Madison Square Garden Sports Corp. [NYSE:MSGS] is expected to bring in revenue of $346.05M. The returns are nearly $-257.27 million lower than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at -5.79, higher than that of FY20 by $1.83. Estimates put this year’s earnings growth at 24.00%, 122.30% for the next, and at an annual 16.90% over the next 5-year period. As for sales, forecasts are for a decrease of -42.60% in the current fiscal year and a further 106.70% over the following year.