MSGS jumps as board approves exploring Knicks-Rangers spin-off

Madison Square Garden Sports (MSGS) is up 16.8% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears driven by the company’s announcement that its board approved a plan to explore a potential separation of the New York Knicks and New York Rangers into two standalone, publicly traded companies. Investors often bid up complex holding-company structures when a proposed spin-off could make underlying assets easier to value and potentially reduce a perceived “conglomerate” discount.

Details:

The board unanimously approved exploring a possible transaction that would separate the Knicks business from the Rangers business into two distinct public companies.

The company described the potential structure as a tax-free spin-off, with a pro-rata distribution of 100% of the new company’s common stock to current MSGS shareholders.

Management emphasized there is no set timetable and no assurance the transaction will be completed.

Any separation would be subject to multiple conditions, including required league approvals and a tax opinion, before final board authorization.

Sources:

Madison Square Garden Sports Investor Relations, Financial Times, Barron’s

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$MSGS Hedge Fund Activity

We have seen 173 institutional investors add shares of $MSGS stock to their portfolio, and 190 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 468,431 shares (-78.2%) from their portfolio in Q4 2025, for an estimated $121,159,678
PRICE T ROWE ASSOCIATES INC /MD/ added 282,318 shares (+67.7%) to their portfolio in Q4 2025, for an estimated $73,021,550
REINHART PARTNERS, LLC. added 214,891 shares (+inf%) to their portfolio in Q4 2025, for an estimated $55,581,557
TOMS CAPITAL INVESTMENT MANAGEMENT LP added 149,205 shares (+82.7%) to their portfolio in Q4 2025, for an estimated $38,591,873
DIMENSIONAL FUND ADVISORS LP removed 125,557 shares (-50.2%) from their portfolio in Q4 2025, for an estimated $32,475,318
VICTORY CAPITAL MANAGEMENT INC removed 120,636 shares (-26.5%) from their portfolio in Q4 2025, for an estimated $31,202,501
UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 118,734 shares (-77.0%) from their portfolio in Q4 2025, for an estimated $30,710,549

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$MSGS Analyst Ratings

Wall Street analysts have issued reports on $MSGS in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Citigroup issued a "Buy" rating on 09/09/2025

To track analyst ratings and price targets for $MSGS, check out Quiver Quantitative's $MSGS forecast page.

$MSGS Price Targets

Multiple analysts have issued price targets for $MSGS recently. We have seen 3 analysts offer price targets for $MSGS in the last 6 months, with a median target of $305.0.

Here are some recent targets:

Jason Bazinet from Citigroup set a target price of $337.0 on 02/13/2026
David Karnovsky from JP Morgan set a target price of $305.0 on 02/06/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.