Verition Fund Management LLC Increases Stock Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

Verition Fund Management LLC grew its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 68.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,519 shares of the company's stock after buying an additional 2,650 shares during the quarter. Verition Fund Management LLC's holdings in Madison Square Garden Sports were worth $1,358,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Point72 Asset Management L.P. grew its holdings in Madison Square Garden Sports by 1,231.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 246,374 shares of the company's stock worth $46,350,000 after acquiring an additional 227,874 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Madison Square Garden Sports by 139.2% in the second quarter. Bank of Montreal Can now owns 89,166 shares of the company's stock worth $16,900,000 after acquiring an additional 51,897 shares during the period. Ariel Investments LLC increased its position in Madison Square Garden Sports by 3.5% during the 2nd quarter. Ariel Investments LLC now owns 970,156 shares of the company's stock valued at $182,515,000 after purchasing an additional 33,031 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Madison Square Garden Sports by 75.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 68,632 shares of the company's stock worth $14,293,000 after purchasing an additional 29,445 shares during the last quarter. Finally, Algert Global LLC lifted its position in shares of Madison Square Garden Sports by 535.4% in the 3rd quarter. Algert Global LLC now owns 31,459 shares of the company's stock worth $6,552,000 after purchasing an additional 26,508 shares during the period. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Sports Trading Up 0.3 %

MSGS stock traded up $0.80 during mid-day trading on Friday, reaching $230.23. The company's stock had a trading volume of 59,042 shares, compared to its average volume of 85,266. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 79.12 and a beta of 0.91. Madison Square Garden Sports Corp. has a 12 month low of $168.32 and a 12 month high of $232.58. The business's 50 day moving average price is $221.71 and its 200 day moving average price is $205.21.

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

Wall Street Analyst Weigh In

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

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.