Is Madison Square Garden Sports Corp. overvalued or undervalued?

As of 20 August 2019, the valuation grade for Madison Square Garden Sports Corp. moved from expensive to risky. The company is currently overvalued, as indicated by its exceptionally high P/E ratio of 328, a negative Price to Book Value of -16.72, and an EV to EBITDA ratio of 55.47. In comparison, peers such as Churchill Downs, Inc. have a more reasonable P/E of 16.46, while Cinemark Holdings, Inc. boasts a very attractive P/E of 11.14, highlighting the disparity in valuation.
Recent stock performance shows that Madison Square Garden Sports Corp. has underperformed compared to the S&P 500, with a year-to-date return of -4.57% against the index's 12.22%. Over three years, the company’s return of 43.37% is significantly lower than the S&P 500's 70.41%, further supporting the conclusion that the stock is overvalued relative to its peers and market performance.