Madison Square Garden Sports Corp. Class A (MSGS)

MSGS stock rose over 60% from its 52-week low to $284.02 by February 4, 2026. Fiscal year 2025 revenues increased by 1%, but operating income decreased due to increased investment in teams and the changing local media landscape. Fiscal Q1 2026 saw a decrease in revenues and an operating loss, attributed to lower league distributions and a decline in local media rights fees, with the stock price dropping 5% after the earnings release. Several insiders engaged in stock sales between September and December 2025. Fiscal Q2 2026 revenues increased by 13%, with operating income rising by 67%, driven by increased media rights fees and more home games, although the company missed EPS forecasts.

Demand for Madison Square Garden Sports Corp.'s products and services exhibits seasonality driven by the NBA and NHL seasons. The fiscal first quarter typically sees lower revenues and operating losses, while the fiscal second quarter experiences robust demand and higher revenues due to the peak of the NBA and NHL regular seasons. The number of home games played also impacts quarterly revenues.

Madison Square Garden Sports Corp. operates in the sports and entertainment sector, managing teams, promoting live events, and developing content and media platforms. Its core products are the New York Knicks, the New York Rangers, and their development league affiliates. MSGS also has an esports presence through Knicks Gaming and operates training facilities. The business model monetizes team brand equity and performance through various revenue streams.

The company's primary market is North America, with a significant presence in the New York metropolitan area. MSG Sports also shows interest in international branding and event expansion.

Madison Square Garden Sports Corp. maintains a strong brand reputation due to its iconic sports franchises. Sustained fan enthusiasm is evidenced by high season ticket renewal rates. Recent positive events include new sponsorship partnerships and the Rangers' 100th anniversary celebration.

The Dolan family controls Madison Square Garden Sports Corp., with James L. Dolan holding a 71.1% voting interest. Major institutional owners include the Dolan Family Trust, BlackRock, Inc., Silver Lake Technology Management, L.L.C., and The Vanguard Group, Inc.