Norges Bank acquired a new stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 239,507 shares of the company's stock, valued at approximately $54,052,000. Norges Bank owned approximately 1.00% of Madison Square Garden Sports at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the business. Empirical Asset Management LLC acquired a new stake in shares of Madison Square Garden Sports in the 4th quarter valued at about $26,120,000. Wealthfront Advisers LLC bought a new position in shares of Madison Square Garden Sports during the fourth quarter worth about $16,844,000. Vanguard Group Inc. raised its position in Madison Square Garden Sports by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 1,945,194 shares of the company's stock valued at $438,991,000 after buying an additional 33,641 shares during the last quarter. Monimus Capital Management LP bought a new stake in Madison Square Garden Sports in the 4th quarter valued at approximately $6,030,000. Finally, Tabor Asset Management LP acquired a new position in Madison Square Garden Sports during the 3rd quarter worth approximately $5,558,000. 68.94% of the stock is currently owned by institutional investors and hedge funds.
Madison Square Garden Sports Price Performance
NYSE:MSGS traded up $12.35 on Wednesday, hitting $187.96. 191,800 shares of the company's stock were exchanged, compared to its average volume of 111,807. The firm has a 50-day moving average price of $198.32 and a 200-day moving average price of $213.28. Madison Square Garden Sports Corp. has a 52 week low of $172.78 and a 52 week high of $237.99. The company has a market cap of $4.51 billion, a P/E ratio of 79.31 and a beta of 0.81.
Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last released its earnings results 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). The company had revenue of $357.80 million for the quarter, compared to the consensus estimate of $352.68 million. Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The business's revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.59 EPS. On average, research analysts expect that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Separately, Macquarie lifted their price objective on shares of Madison Square Garden Sports from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Tuesday, February 25th.
View Our Latest Report on Madison Square Garden Sports
Insider Activity
In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $189.92, for a total value of $6,044,204.00. Following the completion of the sale, the insider now directly owns 5,097 shares in the company, valued at approximately $968,022.24. This trade represents a 86.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 22.10% of the stock is currently owned by 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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