Clearline Capital LP Cuts Stock Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Clearline Capital LP trimmed its stake in Madison Square Garden Sports Corp. (NYSE:MSGS) by 15.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 147,141 shares of the company’s stock after selling 26,305 shares during the quarter. Madison Square Garden Sports comprises about 1.3% of Clearline Capital LP’s holdings, making the stock its 7th biggest position. Clearline Capital LP’s holdings in Madison Square Garden Sports were worth $30,644,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Venturi Wealth Management LLC increased its stake in Madison Square Garden Sports by 31.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 223 shares of the company’s stock valued at $46,000 after purchasing an additional 53 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Madison Square Garden Sports by 80.6% during the first quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock valued at $42,000 after buying an additional 100 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Madison Square Garden Sports by 179.8% during the second quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock worth $49,000 after acquiring an additional 169 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Madison Square Garden Sports by 326.5% in the 3rd quarter. Blue Trust Inc. now owns 418 shares of the company’s stock worth $87,000 after acquiring an additional 320 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in Madison Square Garden Sports during the 3rd quarter valued at about $119,000. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Sports Price Performance

MSGS opened at $229.95 on Monday. Madison Square Garden Sports Corp. has a 1 year low of $167.08 and a 1 year high of $232.58. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 79.02 and a beta of 0.92. The firm’s fifty day moving average price is $219.42 and its two-hundred day moving average price is $203.86.

Madison Square Garden Sports (NYSE:MSGS) last released its quarterly earnings results on Friday, November 1st. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.55. The business had revenue of $53.31 million for the quarter, compared to analysts’ expectations of $43.71 million. Madison Square Garden Sports had a net margin of 6.75% and a negative return on equity of 23.81%. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.79) earnings per share. As a group, equities analysts anticipate that Madison Square Garden Sports Corp. will post 0.81 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.