Clearline Capital LP Has $30.64 Million Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Clearline Capital LP reduced its position in Madison Square Garden Sports Corp. (NYSE:MSGS) by 15.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 147,141 shares of the company’s stock after selling 26,305 shares during the quarter. Madison Square Garden Sports comprises about 1.3% of Clearline Capital LP’s portfolio, making the stock its 7th largest position. Clearline Capital LP owned about 0.61% of Madison Square Garden Sports worth $30,644,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Madison Square Garden Sports by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,909 shares of the company’s stock worth $2,567,000 after buying an additional 567 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Madison Square Garden Sports by 80.6% during the first quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock valued at $42,000 after purchasing an additional 100 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Madison Square Garden Sports by 179.8% during the second quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock worth $49,000 after purchasing an additional 169 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in Madison Square Garden Sports by 306.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 39,187 shares of the company’s stock valued at $7,372,000 after buying an additional 29,547 shares during the last quarter. Finally, Park Avenue Securities LLC increased its position in Madison Square Garden Sports by 25.7% in the 2nd quarter. Park Avenue Securities LLC now owns 3,282 shares of the company’s stock valued at $617,000 after acquiring an additional 671 shares during the period. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Sports Stock Performance

Madison Square Garden Sports stock opened at $229.95 on Monday. The firm has a 50 day moving average price of $219.42 and a two-hundred day moving average price of $203.86. Madison Square Garden Sports Corp. has a 52-week low of $167.08 and a 52-week high of $232.58. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 79.02 and a beta of 0.92.

Madison Square Garden Sports (NYSE:MSGS) last issued its quarterly earnings results on Friday, November 1st. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.55. Madison Square Garden Sports had a net margin of 6.75% and a negative return on equity of 23.81%. The business had revenue of $53.31 million for the quarter, compared to analysts’ expectations of $43.71 million. During the same quarter in the prior year, the firm posted ($0.79) earnings per share. The business’s quarterly revenue was up 23.8% compared to the same quarter last year. As a group, equities research analysts predict that Madison Square Garden Sports Corp. will post 0.81 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Macquarie lifted their price target on shares of Madison Square Garden Sports from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th.

About Madison Square Garden Sports

Madison Square Garden Sports Corp. operates as a professional sports company in the United States. 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 development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.