Streetbeat News

MSGS

Madison Square Garden Sports Corp.

https://www.msgsports.com

Industry

Entertainment

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. It also owns Knicks Gaming, an esports franchise that competes in the NBA 2K League, as well as a controlling interest in Counter Logic Gaming, a North American esports organization. In addition, the company operates two professional sports team performance centers, the Madison Square Garden Training Center in Greenburgh and the CLG Performance Center in Los Angeles. The company was formerly known as The Madison Square Garden Company. Madison Square Garden Sports Corp. was incorporated in 2015 and is based in New York, New York.

Open

227.45

Mkt cap

5.5B

Volume

159K

High

227.65

P/E Ratio

77.59

52-wk high

230.69

Low

223.88

Div yield

N/A

52-wk low

166.26

The NBA free agency has significantly altered betting odds for the upcoming season, with the Boston Celtics remaining favorites. The New York Knicks, owned by Madison Square Garden Sports (NYSE: MSGS), have improved their odds after acquiring Mikal Bridges. This could positively impact MSGS stock. DraftKings Inc (NASDAQ: DKNG) provides the updated betting odds.

Portfolio Pulse from Chris Katje

July 06, 2024 | 2:05 pm

The Boston Celtics, fresh off their 18th NBA championship, are up for sale. Boston Basketball Partners plans to sell a majority stake in the team by 2024 or early 2025, with the remaining stake to be sold by 2028. The sale could break NBA records, with the team valued at $4.7 billion. The news has implications for Madison Square Garden Sports (NYSE:MSGS), Blue Owl Capital (NYSE:OWL), and DraftKings Inc (NASDAQ:DKNG).

Portfolio Pulse from Chris Katje

July 02, 2024 | 7:34 pm

LeBron James and his son Bronny James are key storylines for the 2023-2024 NBA offseason. Bronny James is a top NBA Draft prospect, and his selection could influence where LeBron plays next season. The NBA Draft will be televised by ABC and ESPN, units of Walt Disney Co (NYSE:DIS). DraftKings Inc (NASDAQ:DKNG) has released betting odds for which teams might draft Bronny and where LeBron might play. Madison Square Garden Sports Corp (NYSE:MSGS) could see stock movement if the New York Knicks land either James.

Portfolio Pulse from Chris Katje

May 30, 2024 | 4:57 pm

Madison Square Garden Sports Corp (NYSE:MSGS) reported a fiscal third-quarter 2024 revenue of $429.95 million, surpassing Wall Street estimates but fell short on earnings per share at $1.57 against an expected $2.60. Revenue growth of 12% year over year was driven by higher ticket sales, suite revenues, and other related income. Despite this, MSGS shares dropped 1.19% to $184.94. The stock is also part of Invesco S&P SmallCap Utilities & Communication Services ETF (NASDAQ:PSCU) and ETC 6 Meridian Small Cap Equity ETF (NYSE:SIXS).

Portfolio Pulse from Anusuya Lahiri

May 02, 2024 | 4:18 pm

Madison Square Garden (MSGS) reported Q3 2024 earnings of $1.58 per share, missing the $2.60 estimate, but sales of $430.00M exceeded the $420.74M forecast, marking a 12.35% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 11:33 am

The article discusses the ongoing 30-year Stanley Cup drought for Canadian NHL teams, highlighting the Montreal Canadiens as the last Canadian team to win in 1993. It presents the betting odds for the 2024 Stanley Cup, with DraftKings Inc (NASDAQ:DKNG) listing the Edmonton Oilers as the top Canadian team. Madison Square Garden Sports (NYSE:MSGS), owning the New York Rangers and Knicks, is noted for its public listing and the Rangers' strong season performance. The article suggests MSGS could see financial benefits from deep playoff runs by its teams.

Portfolio Pulse from Chris Katje

April 22, 2024 | 1:08 pm

Xtract One Technologies Inc. announces a marketed public offering of units and a concurrent private placement with MSG Sports Ventures, a subsidiary of Madison Square Garden Sports Corp. (NYSE:MSGS). The offering, managed by Eight Capital, includes shares and warrants, with an over-allotment option of up to 15%. The proceeds are intended for working capital and general corporate purposes, with the closing date expected around April 24, 2024. MSG Sports aims to maintain its pro rata interest in Xtract One through the private placement.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 8:31 pm

Madison Square Garden Sports Corp. (NYSE:MSGS) shares rose after reporting Q2 fiscal 2024 revenue of $326.89 million, surpassing Wall Street's estimate of $325.72 million, despite an 8% year-over-year decline. The decrease in revenue was partially offset by higher local media rights fees and league distributions, even as the Knicks and Rangers played nine fewer home games. Earnings per share were $0.59, above the $0.55 estimate, but adjusted operating income fell 43% year over year. The company ended the quarter with $41.23 million in cash and equivalents. MSGS shares increased by 4.65% to $190.28.

Portfolio Pulse from Nabaparna Bhattacharya

February 06, 2024 | 6:11 pm

Madison Square Garden (MSGS) reported Q2 earnings of $0.59 per share, surpassing the $0.55 estimate, and sales of $326.90M, slightly above the $325.72M estimate. However, both earnings and sales saw a decrease compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 12:36 pm

Earnings reports for various companies are scheduled for February 6, 2024, with projections ranging from significant profits to losses across diverse sectors. Notable mentions include BP, UBS, Frontier Group Holdings, and Spotify Technology, among others, indicating a broad spectrum of financial health and market expectations.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 10:42 am

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