Madison Square Garden Sports Corp. (NYSE:MSGS) Shares Bought by Algert Global LLC

Algert Global LLC lifted its holdings in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 535.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,459 shares of the company's stock after acquiring an additional 26,508 shares during the period. Algert Global LLC owned 0.13% of Madison Square Garden Sports worth $6,552,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MSGS. Vanguard Group Inc. increased its stake in Madison Square Garden Sports by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,939,705 shares of the company's stock valued at $357,914,000 after buying an additional 12,813 shares during the period. Ariel Investments LLC increased its stake in shares of Madison Square Garden Sports by 3.5% during the second quarter. Ariel Investments LLC now owns 970,156 shares of the company's stock worth $182,515,000 after acquiring an additional 33,031 shares during the period. Gabelli Funds LLC lifted its position in Madison Square Garden Sports by 0.4% in the second quarter. Gabelli Funds LLC now owns 415,288 shares of the company's stock valued at $78,128,000 after purchasing an additional 1,488 shares during the period. Point72 Asset Management L.P. boosted its holdings in Madison Square Garden Sports by 1,231.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 246,374 shares of the company's stock valued at $46,350,000 after purchasing an additional 227,874 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Madison Square Garden Sports by 0.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 229,609 shares of the company's stock worth $43,196,000 after purchasing an additional 1,534 shares during the period. Institutional investors and hedge funds own 68.94% of the company's stock.

Insider Activity

In other Madison Square Garden Sports news, CEO James Lawrence Dolan sold 629 shares of the firm's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $209.30, for a total value of $131,649.70. Following the sale, the chief executive officer now directly owns 10,192 shares of the company's stock, valued at approximately $2,133,185.60. This trade represents a 5.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 22.10% of the company's stock.

Madison Square Garden Sports Price Performance

Madison Square Garden Sports stock traded up $1.34 during mid-day trading on Friday, reaching $229.83. The company had a trading volume of 75,683 shares, compared to its average volume of 127,633. The stock's 50-day simple moving average is $217.19 and its 200-day simple moving average is $202.29. The company has a market capitalization of $5.50 billion, a P/E ratio of 78.98 and a beta of 0.92. Madison Square Garden Sports Corp. has a 1 year low of $166.26 and a 1 year high of $230.69.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $53.31 million for the quarter, compared to analysts' expectations of $43.71 million. During the same period in the prior year, the company earned ($0.79) EPS. The firm's revenue was up 23.8% on a year-over-year basis. On average, equities analysts forecast that Madison Square Garden Sports Corp. will post 0.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Macquarie lifted their price target on Madison Square Garden Sports from $235.00 to $240.00 and gave the company 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.