State Street Corp Boosts Stake in Madison Square Garden Sports Corp. (NYSE:MSGS)

State Street Corp increased its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 549,108 shares of the company's stock after acquiring an additional 6,640 shares during the quarter. State Street Corp owned approximately 2.29% of Madison Square Garden Sports worth $114,357,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MSGS. Ariel Investments LLC lifted its holdings in Madison Square Garden Sports by 3.5% during the second quarter. Ariel Investments LLC now owns 970,156 shares of the company's stock worth $182,515,000 after acquiring an additional 33,031 shares during the period. Gabelli Funds LLC increased its stake in shares of Madison Square Garden Sports by 0.4% during the 2nd quarter. Gabelli Funds LLC now owns 415,288 shares of the company's stock worth $78,128,000 after purchasing an additional 1,488 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Madison Square Garden Sports by 1,231.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 246,374 shares of the company's stock worth $46,350,000 after purchasing an additional 227,874 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Madison Square Garden Sports by 0.7% in the second quarter. The Manufacturers Life Insurance Company now owns 229,609 shares of the company's stock valued at $43,196,000 after purchasing an additional 1,534 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Madison Square Garden Sports by 10.2% in the second quarter. Dimensional Fund Advisors LP now owns 211,100 shares of the company's stock worth $39,716,000 after buying an additional 19,585 shares during the last quarter. Institutional investors and hedge funds own 68.94% of the company's stock.

Wall Street Analysts Forecast Growth

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

Madison Square Garden Sports Price Performance

NYSE MSGS traded up $0.60 during trading on Monday, reaching $235.77. The company's stock had a trading volume of 97,446 shares, compared to its average volume of 111,991. The firm has a fifty day moving average of $223.67 and a 200 day moving average of $207.05. The stock has a market capitalization of $5.65 billion, a PE ratio of 80.81 and a beta of 0.91. Madison Square Garden Sports Corp. has a one year low of $175.12 and a one year high of $237.99.

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