Arrowstreet Capital Limited Partnership Buys 4,455 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Arrowstreet Capital Limited Partnership grew its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 76.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 10,258 shares of the company's stock after buying an additional 4,455 shares during the period. Arrowstreet Capital Limited Partnership's holdings in Madison Square Garden Sports were worth $2,315,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in MSGS. Allworth Financial LP raised its holdings in Madison Square Garden Sports by 81.4% in the 4th quarter. Allworth Financial LP now owns 127 shares of the company's stock valued at $28,000 after acquiring an additional 57 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Madison Square Garden Sports by 35.3% during the fourth quarter. Versant Capital Management Inc now owns 234 shares of the company's stock valued at $53,000 after purchasing an additional 61 shares during the period. Fifth Third Bancorp raised its stake in shares of Madison Square Garden Sports by 119.0% in the fourth quarter. Fifth Third Bancorp now owns 138 shares of the company's stock valued at $31,000 after purchasing an additional 75 shares in the last quarter. Xponance Inc. boosted its stake in Madison Square Garden Sports by 8.4% during the fourth quarter. Xponance Inc. now owns 1,105 shares of the company's stock worth $249,000 after buying an additional 86 shares in the last quarter. Finally, Central Pacific Bank Trust Division increased its holdings in Madison Square Garden Sports by 2.0% in the 4th quarter. Central Pacific Bank Trust Division now owns 5,100 shares of the company's stock valued at $1,151,000 after buying an additional 100 shares during the period. Institutional investors own 68.94% of the company's stock.

Remove Ads

Madison Square Garden Sports Stock Performance

Shares of MSGS stock traded up $2.38 during trading hours on Tuesday, hitting $192.73. The company had a trading volume of 17,401 shares, compared to its average volume of 112,111. Madison Square Garden Sports Corp. has a 12 month low of $173.26 and a 12 month high of $237.99. The firm's fifty day moving average is $196.95 and its 200 day moving average is $212.95. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 81.32 and a beta of 0.81.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.25). Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The company had revenue of $357.80 million for the quarter, compared to analyst estimates of $352.68 million. During the same quarter in the prior year, the company earned $0.59 earnings per share. The business's revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts expect that Madison Square Garden Sports Corp. will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling at Madison Square Garden Sports

In other Madison Square Garden Sports news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of Madison Square Garden Sports stock in a transaction on Monday, March 10th. The stock was sold at an average price of $189.92, for a total value of $6,044,204.00. Following the completion of the transaction, the insider now owns 5,097 shares in the company, valued at approximately $968,022.24. The trade was a 86.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 22.10% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Macquarie lifted their target price on shares of Madison Square Garden Sports from $240.00 to $250.00 and gave the company an "outperform" rating in a research report on Tuesday, February 25th.

Madison Square Garden Sports Company Profile

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.