UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 3,472 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 8.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,062 shares of the company's stock after selling 3,472 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.16% of Madison Square Garden Sports worth $7,927,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Madison Square Garden Sports during the second quarter valued at $1,427,000. OFI Invest Asset Management purchased a new stake in Madison Square Garden Sports in the 2nd quarter worth approximately $831,000. Harbor Capital Advisors Inc. boosted its stake in shares of Madison Square Garden Sports by 75.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 68,632 shares of the company's stock valued at $14,293,000 after buying an additional 29,445 shares during the period. Point72 DIFC Ltd purchased a new position in shares of Madison Square Garden Sports during the 2nd quarter valued at $543,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Madison Square Garden Sports in the third quarter worth $861,000. 68.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Macquarie boosted their target price 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.

Madison Square Garden Sports Price Performance

NYSE:MSGS traded up $0.52 during mid-day trading on Tuesday, reaching $228.27. The stock had a trading volume of 48,240 shares, compared to its average volume of 112,461. The business's 50 day moving average is $222.11 and its 200 day moving average is $205.67. Madison Square Garden Sports Corp. has a fifty-two week low of $169.98 and a fifty-two week high of $232.58. The stock has a market cap of $5.47 billion, a P/E ratio of 78.27 and a beta of 0.91.

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

Madison Square Garden Sports 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.