By otakuyassine3@gmail.com 
KLP Kapitalforvaltning AS purchased a new position in Madison Square Garden Sports Corp. (NYSE:MSGS – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,200 shares of the company’s stock, valued at approximately $722,000.
Several other large investors have also recently made changes to their positions in the company. State Street Corp boosted its stake in Madison Square Garden Sports by 1.2% during the 3rd quarter. State Street Corp now owns 549,108 shares of the company’s stock worth $114,357,000 after purchasing an additional 6,640 shares during the last quarter. Geode Capital Management LLC boosted its position in Madison Square Garden Sports by 0.7% during the third quarter. Geode Capital Management LLC now owns 273,222 shares of the company’s stock worth $56,916,000 after acquiring an additional 1,913 shares during the last quarter. Systematic Financial Management LP grew its stake in Madison Square Garden Sports by 13.3% during the 3rd quarter. Systematic Financial Management LP now owns 124,327 shares of the company’s stock valued at $25,893,000 after acquiring an additional 14,591 shares in the last quarter. Empirical Asset Management LLC acquired a new stake in Madison Square Garden Sports in the 4th quarter valued at about $26,120,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Madison Square Garden Sports by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 115,530 shares of the company’s stock worth $26,073,000 after purchasing an additional 3,675 shares in the last quarter. 68.94% of the stock is currently owned by hedge funds and other institutional investors.
Madison Square Garden Sports Trading Up 1.8 %
Shares of MSGS stock opened at $198.24 on Wednesday. Madison Square Garden Sports Corp. has a twelve month low of $178.35 and a twelve month high of $237.99. The company’s 50-day moving average price is $203.93 and its 200-day moving average price is $214.64. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 83.65 and a beta of 0.91.
Madison Square Garden Sports (NYSE:MSGS – Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.25). The firm had revenue of $357.80 million during the quarter, compared to analyst estimates of $352.68 million. Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 earnings per share. As a group, equities research analysts predict that Madison Square Garden Sports Corp. will post 0.73 EPS for the current year.
Wall Street Analysts Forecast Growth
Separately, Macquarie increased their price target on Madison Square Garden Sports from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th.
Insiders Place Their Bets
In other Madison Square Garden Sports news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $189.92, for a total transaction of $6,044,204.00. Following the completion of the transaction, the insider now owns 5,097 shares of the company’s stock, valued at $968,022.24. This trade represents a 86.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 22.10% of the stock is owned by insiders.
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.
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