Insight Inv LLC Cuts Stock Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Insight Inv LLC lowered its position in Madison Square Garden Sports Corp. (NYSE:MSGS) by 1.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,550 shares of the company’s stock after selling 115 shares during the period. Insight Inv LLC’s holdings in Madison Square Garden Sports were worth $1,478,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Empirical Asset Management LLC purchased a new stake in Madison Square Garden Sports in the fourth quarter valued at approximately $26,120,000. Bank of Montreal Can grew its stake in shares of Madison Square Garden Sports by 139.2% in the second quarter. Bank of Montreal Can now owns 89,166 shares of the company’s stock valued at $16,900,000 after buying an additional 51,897 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Madison Square Garden Sports by 75.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 68,632 shares of the company’s stock valued at $14,293,000 after buying an additional 29,445 shares during the period. Tabor Asset Management LP acquired a new position in Madison Square Garden Sports during the 3rd quarter worth about $5,558,000. Finally, Algert Global LLC boosted its holdings in Madison Square Garden Sports by 535.4% during the 3rd quarter. Algert Global LLC now owns 31,459 shares of the company’s stock valued at $6,552,000 after acquiring an additional 26,508 shares during the period. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Madison Square Garden Sports Stock Up 0.5 %

Madison Square Garden Sports stock opened at $219.50 on Friday. The company’s 50 day moving average is $224.05 and its two-hundred day moving average is $213.64. The firm has a market cap of $5.26 billion, a PE ratio of 75.43 and a beta of 0.91. Madison Square Garden Sports Corp. has a 52-week low of $178.35 and a 52-week high of $237.99.

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

Analysts Set New Price Targets

Separately, Macquarie boosted 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 research note 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.