Public Sector Pension Investment Board Sells 1,300 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Public Sector Pension Investment Board decreased its position in Madison Square Garden Sports Corp. (NYSE:MSGS) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,408 shares of the company’s stock after selling 1,300 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.15% of Madison Square Garden Sports worth $7,374,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Point72 Asset Management L.P. boosted its stake 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 valued at $46,350,000 after purchasing an additional 227,874 shares during the period. Bank of Montreal Can boosted its position 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 valued at $16,900,000 after acquiring an additional 51,897 shares during the period. Ariel Investments LLC grew its stake in shares of Madison Square Garden Sports by 3.5% in 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 last quarter. Harbor Capital Advisors Inc. increased its position in Madison Square Garden Sports by 306.5% during the second quarter. Harbor Capital Advisors Inc. now owns 39,187 shares of the company’s stock worth $7,372,000 after acquiring an additional 29,547 shares during the period. Finally, Algert Global LLC increased its position in Madison Square Garden Sports by 535.4% during the third quarter. Algert Global LLC now owns 31,459 shares of the company’s stock worth $6,552,000 after acquiring 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 Stock Up 0.4 %

Madison Square Garden Sports stock opened at $229.95 on Friday. The business has a 50 day moving average price of $219.42 and a two-hundred day moving average price of $203.62. Madison Square Garden Sports Corp. has a 12 month low of $167.08 and a 12 month high of $232.58. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 79.02 and a beta of 0.92.

Madison Square Garden Sports (NYSE:MSGS) last issued its earnings results on Friday, November 1st. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.86) by $0.55. The firm 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%. Madison Square Garden Sports’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same period last year, the business earned ($0.79) earnings per share. On average, analysts expect that Madison Square Garden Sports Corp. will post 0.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Macquarie raised their price target 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.

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.