Bank of Montreal Can Decreases Stake in Madison Square Garden Sports Corp. (NYSE:MSGS)

Bank of Montreal Can cut its holdings in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 45.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,793 shares of the company's stock after selling 40,373 shares during the quarter. Bank of Montreal Can owned about 0.20% of Madison Square Garden Sports worth $10,151,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Ariel Investments LLC grew its holdings in shares of Madison Square Garden Sports by 3.5% during the 2nd quarter. Ariel Investments LLC now owns 970,156 shares of the company's stock worth $182,515,000 after purchasing an additional 33,031 shares during the period. Gabelli Funds LLC grew its holdings in shares of Madison Square Garden Sports by 0.4% during the 2nd quarter. Gabelli Funds LLC now owns 415,288 shares of the company's stock worth $78,128,000 after purchasing an additional 1,488 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of Madison Square Garden Sports by 1,231.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 246,374 shares of the company's stock worth $46,350,000 after purchasing an additional 227,874 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of 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. Finally, Dimensional Fund Advisors LP boosted its holdings in Madison Square Garden Sports by 10.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 211,100 shares of the company's stock valued at $39,716,000 after acquiring an additional 19,585 shares during the period. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Macquarie increased their price target on Madison Square Garden Sports from $235.00 to $240.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th.

Madison Square Garden Sports Price Performance

Shares of NYSE MSGS traded up $0.54 during midday trading on Monday, hitting $230.49. 12,850 shares of the company's stock were exchanged, compared to its average volume of 113,619. Madison Square Garden Sports Corp. has a twelve month low of $168.32 and a twelve month high of $232.58. The company has a market cap of $5.52 billion, a PE ratio of 79.02 and a beta of 0.92. The firm's fifty day simple moving average is $219.42 and its 200-day simple moving average is $203.86.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.86) by $0.55. The company had revenue of $53.31 million for the quarter, compared to analyst estimates of $43.71 million. Madison Square Garden Sports had a negative return on equity of 23.81% and a net margin of 6.75%. The firm's revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.79) earnings per share. Equities analysts anticipate that Madison Square Garden Sports Corp. will post 0.81 EPS for the current fiscal year.

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.