Invesco Ltd. boosted its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 6.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,258 shares of the company's stock after purchasing an additional 4,918 shares during the quarter. Invesco Ltd. owned about 0.35% of Madison Square Garden Sports worth $18,790,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in MSGS. Allworth Financial LP lifted its stake in Madison Square Garden Sports by 81.4% in the fourth quarter. Allworth Financial LP now owns 127 shares of the company's stock valued at $28,000 after buying an additional 57 shares during the last quarter. Fifth Third Bancorp raised its position in Madison Square Garden Sports by 119.0% in the 4th quarter. Fifth Third Bancorp now owns 138 shares of the company's stock valued at $31,000 after purchasing an additional 75 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in Madison Square Garden Sports during the 4th quarter worth $43,000. Versant Capital Management Inc grew its position in Madison Square Garden Sports by 35.3% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the company's stock worth $53,000 after purchasing an additional 61 shares during the last quarter. Finally, Headlands Technologies LLC raised its holdings in shares of Madison Square Garden Sports by 1,016.7% in the fourth quarter. Headlands Technologies LLC now owns 268 shares of the company's stock valued at $60,000 after buying an additional 244 shares during the last quarter. 68.94% of the stock is currently owned by hedge funds and other institutional investors.
Madison Square Garden Sports Stock Performance
NYSE:MSGS traded up $3.18 during mid-day trading on Tuesday, reaching $188.58. The stock had a trading volume of 223,888 shares, compared to its average volume of 113,204. Madison Square Garden Sports Corp. has a twelve month low of $173.26 and a twelve month high of $237.99. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 79.57 and a beta of 0.81. The business has a 50 day simple moving average of $195.11 and a 200 day simple moving average of $212.17.
Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.25). The firm had revenue of $357.80 million for the quarter, compared to analysts' expectations of $352.68 million. Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. Madison Square Garden Sports's revenue was up 9.5% compared to the same quarter last year. During the same period last year, the firm earned $0.59 EPS. As a group, sell-side analysts expect that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current year.
Wall Street Analyst Weigh In
Separately, Macquarie upped their price objective on Madison Square Garden Sports from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Tuesday, February 25th.
View Our Latest Stock Analysis on Madison Square Garden Sports
Insider Activity at Madison Square Garden Sports
In other Madison Square Garden Sports news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $189.92, for a total transaction of $6,044,204.00. Following the sale, the insider now owns 5,097 shares in the company, valued at approximately $968,022.24. This represents a 86.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 22.10% of the stock is owned by corporate insiders.
Madison Square Garden Sports Company Profile
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Free Report)
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.
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