River Road Asset Management LLC lessened its stake in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 25.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,713 shares of the company's stock after selling 8,584 shares during the quarter. River Road Asset Management LLC owned about 0.10% of Madison Square Garden Sports worth $5,147,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Madison Square Garden Sports in the 2nd quarter valued at $1,427,000. SageView Advisory Group LLC boosted its stake in Madison Square Garden Sports by 535.5% in the first quarter. SageView Advisory Group LLC now owns 8,566 shares of the company's stock valued at $1,581,000 after buying an additional 7,218 shares in the last quarter. OFI Invest Asset Management bought a new position in Madison Square Garden Sports in the second quarter valued at about $831,000. Harbor Capital Advisors Inc. raised its stake in Madison Square Garden Sports by 75.1% during the third quarter. Harbor Capital Advisors Inc. now owns 68,632 shares of the company's stock worth $14,293,000 after acquiring an additional 29,445 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of Madison Square Garden Sports in the second quarter worth about $543,000. Institutional investors own 68.94% of the company's stock.
Analyst Ratings Changes
Separately, Macquarie upped 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.
View Our Latest Research Report on Madison Square Garden Sports
Madison Square Garden Sports Price Performance
MSGS stock traded up $7.61 during midday trading on Wednesday, reaching $225.48. 223,489 shares of the stock were exchanged, compared to its average volume of 97,802. Madison Square Garden Sports Corp. has a 52 week low of $166.26 and a 52 week high of $230.69. The company has a fifty day moving average price of $212.14 and a 200 day moving average price of $198.86. The stock has a market capitalization of $5.40 billion, a PE ratio of 77.44 and a beta of 0.92.
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 for the quarter, topping the consensus estimate of ($0.86) by $0.55. The company had revenue of $53.31 million for 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 business's quarterly revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.79) earnings per share. As a group, analysts anticipate that Madison Square Garden Sports Corp. will post 1.42 earnings per share for the current fiscal year.
Insider Buying and Selling at Madison Square Garden Sports
In related news, CEO James Lawrence Dolan sold 629 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $209.30, for a total value 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 document filed with the SEC, which is available at this hyperlink. Corporate insiders own 22.10% of the company's stock.
About Madison Square Garden Sports
(
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.
Featured Articles
Before you consider Madison Square Garden Sports, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Madison Square Garden Sports wasn't on the list.
While Madison Square Garden Sports currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Keep reading to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
