Verition Fund Management LLC Has $1.36 Million Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Verition Fund Management LLC increased its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 68.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,519 shares of the company’s stock after purchasing an additional 2,650 shares during the period. Verition Fund Management LLC’s holdings in Madison Square Garden Sports were worth $1,358,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Ariel Investments LLC raised its holdings in Madison Square Garden Sports by 3.5% in the 2nd quarter. Ariel Investments LLC now owns 970,156 shares of the company’s stock valued at $182,515,000 after acquiring an additional 33,031 shares in the last quarter. Gabelli Funds LLC raised its holdings in Madison Square Garden Sports by 0.4% in the 2nd quarter. Gabelli Funds LLC now owns 415,288 shares of the company’s stock valued at $78,128,000 after acquiring an additional 1,488 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in 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 valued at $46,350,000 after acquiring an additional 227,874 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Madison Square Garden Sports by 0.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 229,609 shares of the company’s stock valued at $43,196,000 after acquiring an additional 1,534 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Madison Square Garden Sports by 10.2% during the 2nd 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 in the last quarter. 68.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Macquarie boosted their price target on Madison Square Garden Sports from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th.

Madison Square Garden Sports Stock Up 0.3 %

Shares of MSGS stock opened at $230.23 on Friday. The firm has a market capitalization of $5.51 billion, a P/E ratio of 79.12 and a beta of 0.91. Madison Square Garden Sports Corp. has a twelve month low of $168.32 and a twelve month high of $232.58. The stock’s fifty day simple moving average is $221.71 and its 200 day simple moving average is $205.08.

Madison Square Garden Sports (NYSE:MSGS) last issued its quarterly earnings data 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 business had revenue of $53.31 million for the quarter, compared to analyst estimates 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. As a group, equities research analysts expect that Madison Square Garden Sports Corp. will post 0.81 EPS for the current fiscal year.

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.