Herbst Group LLC Buys 2,212 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Herbst Group LLC raised its position in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 16.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,617 shares of the company's stock after buying an additional 2,212 shares during the period. Madison Square Garden Sports accounts for about 2.2% of Herbst Group LLC's investment portfolio, making the stock its 18th biggest position. Herbst Group LLC owned 0.07% of Madison Square Garden Sports worth $3,524,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position 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 worth $39,716,000 after acquiring an additional 19,585 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Madison Square Garden Sports by 19.2% during the second quarter. Renaissance Technologies LLC now owns 48,500 shares of the company's stock worth $9,124,000 after purchasing an additional 7,800 shares during the last quarter. Seven Eight Capital LP acquired a new position in Madison Square Garden Sports during the 2nd quarter worth about $477,000. XTX Topco Ltd bought a new stake in Madison Square Garden Sports during the 2nd quarter worth about $884,000. Finally, Gabelli Funds LLC increased its position in Madison Square Garden Sports by 0.4% in the 2nd quarter. Gabelli Funds LLC now owns 415,288 shares of the company's stock valued at $78,128,000 after acquiring an additional 1,488 shares in the last quarter. 68.94% of the stock is owned by institutional investors.

Madison Square Garden Sports Stock Performance

NYSE:MSGS traded up $1.85 on Friday, hitting $217.05. 47,570 shares of the stock were exchanged, compared to its average volume of 78,083. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 74.59 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. The company's 50-day moving average price is $224.49 and its 200 day moving average price is $212.91.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The company reported ($0.31) earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $43.71 million. During the same period in the previous year, the firm posted ($0.79) earnings per share. Madison Square Garden Sports's revenue for the quarter 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 earnings per share for the current year.

Analyst Ratings Changes

Separately, Macquarie increased their price target on shares of 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.

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.