Insight Inv LLC Reduces Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

Insight Inv LLC cut its stake in Madison Square Garden Sports Corp. (NYSE:MSGS) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,550 shares of the company’s stock after selling 115 shares during the period. Insight Inv LLC’s holdings in Madison Square Garden Sports were worth $1,478,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp grew its position in shares of Madison Square Garden Sports by 119.0% during the fourth quarter. Fifth Third Bancorp now owns 138 shares of the company’s stock worth $31,000 after acquiring an additional 75 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Madison Square Garden Sports by 4.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 8,725 shares of the company’s stock worth $1,969,000 after purchasing an additional 354 shares during the period. SG Americas Securities LLC acquired a new position in Madison Square Garden Sports in the 4th quarter valued at $685,000. Herbst Group LLC raised its position in Madison Square Garden Sports by 16.5% during the 4th quarter. Herbst Group LLC now owns 15,617 shares of the company’s stock worth $3,524,000 after buying an additional 2,212 shares during the last quarter. Finally, Empirical Asset Management LLC purchased a new stake in shares of Madison Square Garden Sports in the fourth quarter valued at about $26,120,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Macquarie raised 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 research report on Tuesday, November 5th.

Madison Square Garden Sports Stock Performance

Madison Square Garden Sports stock opened at $219.50 on Friday. The company has a market cap of $5.26 billion, a P/E ratio of 75.43 and a beta of 0.91. Madison Square Garden Sports Corp. has a one year low of $178.35 and a one year high of $237.99. The business has a fifty day moving average of $224.05 and a two-hundred day moving average of $213.64.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings data on Friday, November 1st. The company reported ($0.31) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $53.31 million during the quarter, compared to analysts’ expectations of $43.71 million. During the same quarter last year, the business earned ($0.79) earnings per share. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. Sell-side analysts predict that Madison Square Garden Sports Corp. will post 0.81 EPS for the current 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.