Quest Partners LLC Takes $1.96 Million Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Quest Partners LLC bought a new position in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,429 shares of the company's stock, valued at approximately $1,964,000.

Several other hedge funds and other institutional investors have also modified their holdings of MSGS. Venturi Wealth Management LLC boosted its holdings in shares of Madison Square Garden Sports by 31.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 223 shares of the company's stock worth $46,000 after acquiring an additional 53 shares in the last quarter. EverSource Wealth Advisors LLC raised 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 buying an additional 100 shares during the last quarter. GAMMA Investing LLC lifted its position in Madison Square Garden Sports by 179.8% during the 2nd quarter. GAMMA Investing LLC now owns 263 shares of the company's stock worth $49,000 after buying an additional 169 shares in the last quarter. Blue Trust Inc. grew its holdings in Madison Square Garden Sports by 326.5% during the 3rd quarter. Blue Trust Inc. now owns 418 shares of the company's stock worth $87,000 after acquiring an additional 320 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Madison Square Garden Sports in the 3rd quarter valued at about $119,000. Institutional investors own 68.94% of the company's stock.

Madison Square Garden Sports Stock Performance

NYSE:MSGS traded up $3.18 on Tuesday, hitting $222.23. 92,274 shares of the stock were exchanged, compared to its average volume of 115,484. Madison Square Garden Sports Corp. has a 52 week low of $166.26 and a 52 week high of $230.69. The company's 50-day moving average price is $215.34 and its 200 day moving average price is $201.29. The stock has a market capitalization of $5.32 billion, a price-to-earnings ratio of 76.37 and a beta of 0.92.

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

Analysts Set New Price Targets

Separately, Macquarie boosted their price objective on shares of Madison Square Garden Sports from $235.00 to $240.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th.

Insider Buying and Selling at Madison Square Garden Sports

In other news, CEO James Lawrence Dolan sold 629 shares of the company's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $209.30, for a total transaction of $131,649.70. Following the sale, the chief executive officer now owns 10,192 shares in the company, valued at $2,133,185.60. This represents a 5.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 22.10% of the company's stock.

About Madison Square Garden Sports

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.