Harbor Capital Advisors Inc. Purchases 29,445 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Harbor Capital Advisors Inc. lifted its stake in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 75.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 68,632 shares of the company's stock after purchasing an additional 29,445 shares during the quarter. Madison Square Garden Sports accounts for about 0.6% of Harbor Capital Advisors Inc.'s investment portfolio, making the stock its 22nd largest holding. Harbor Capital Advisors Inc. owned 0.29% of Madison Square Garden Sports worth $14,293,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MSGS. EverSource Wealth Advisors LLC lifted its holdings in shares of Madison Square Garden Sports by 80.6% in the first quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company's stock valued at $42,000 after purchasing an additional 100 shares in the last quarter. GAMMA Investing LLC grew its stake in Madison Square Garden Sports by 179.8% during the 2nd quarter. GAMMA Investing LLC now owns 263 shares of the company's stock valued at $49,000 after acquiring an additional 169 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Madison Square Garden Sports by 326.5% in the 3rd quarter. Blue Trust Inc. now owns 418 shares of the company's stock valued at $87,000 after purchasing an additional 320 shares during the period. Quent Capital LLC lifted its position in shares of Madison Square Garden Sports by 312.4% in the first quarter. Quent Capital LLC now owns 565 shares of the company's stock worth $104,000 after purchasing an additional 428 shares in the last quarter. Finally, BNP Paribas purchased a new position in Madison Square Garden Sports during the first quarter valued at approximately $111,000. Hedge funds and other institutional investors own 68.94% of the company's stock.

Insider Activity

In other Madison Square Garden Sports news, CEO James Lawrence Dolan sold 629 shares of the company's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $209.30, for a total transaction of $131,649.70. Following the completion of the sale, the chief executive officer now directly owns 10,192 shares in the company, valued at $2,133,185.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 22.10% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Macquarie lowered their price target on shares of Madison Square Garden Sports from $240.00 to $235.00 and set an "outperform" rating on the stock in a report on Friday, August 16th.

Madison Square Garden Sports Stock Performance

Shares of Madison Square Garden Sports stock traded down $1.71 during midday trading on Friday, reaching $220.99. 283,834 shares of the company's stock traded hands, compared to its average volume of 80,316. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 75.94 and a beta of 0.92. Madison Square Garden Sports Corp. has a 52 week low of $166.26 and a 52 week high of $227.66. The company's 50 day simple moving average is $211.81 and its 200 day simple moving average is $198.34.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.86) by $0.55. Madison Square Garden Sports had a negative return on equity of 18.69% and a net margin of 5.72%. The company had revenue of $53.31 million during the quarter, compared to the consensus estimate of $43.71 million. During the same quarter in the prior year, the company posted ($0.79) EPS. The firm's revenue was up 23.8% on a year-over-year basis. As a group, equities research analysts predict that Madison Square Garden Sports Corp. will post 1.42 earnings per share for the current year.

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.