%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment Madison Square Garden (NYSE: $MSGS ) is known as a legendary sports arena. It's also a small-cap stock that is in the middle of an epic bull run. Located in the heart of New York City, Madison Square Garden is home to the New York Rangers of the National Hockey League (NHL) and the New York Knicks of the National Basketball Association (NBA). The arena also hosts top-tier boxing matches and concerts by the world's biggest acts such as U2, Pearl Jam, and Billy Joel. However, Madison Square Garden Sports Corp. (also known as MSG Sports) is a holding company that owns the venue and manages both the New York Rangers and Knicks. After a period of underperformance, MSGS stock has taken off, rising 65% over the past 12 months, including a 24% gain so far in 2026. The stock has benefitted from a rotation by investors out of richly valued technology stocks associated with artificial intelligence and into value stocks that are seen as safety nets. The stock has also gotten a boost after management recently announced plans to separate the New York Knicks and New York Rangers into two companies. The separation aims to allow clearer evaluation of each team's assets and growth, enhancing shareholder value and providing flexibility in the process. A market capitalization of $7.74 billion U.S. makes Madison Square Garden Sports a small-cap stock. There's no dividend on offer and the stock has enjoyed a blistering rally in recent months. However, if the separation of the Rangers and Knicks succeeds, there could be more gains ahead for MSGS stock, say analysts.