State of Alaska Department of Revenue grew its stake in Madison Square Garden Sports Corp. (NYSE:MSGS – Get Rating) by 586.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,149 shares of the company's stock after acquiring an additional 20,632 shares during the quarter. State of Alaska Department of Revenue owned about 0.10% of Madison Square Garden Sports worth $3,646,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of MSGS. Ariel Investments LLC increased its position in shares of Madison Square Garden Sports by 5.1% during the 1st quarter. Ariel Investments LLC now owns 1,122,903 shares of the company's stock worth $201,403,000 after purchasing an additional 54,891 shares during the last quarter. Southeastern Asset Management Inc. TN increased its position in shares of Madison Square Garden Sports by 7.4% during the 4th quarter. Southeastern Asset Management Inc. TN now owns 927,076 shares of the company's stock worth $161,061,000 after purchasing an additional 63,502 shares during the last quarter. Gamco Investors INC. ET AL increased its position in shares of Madison Square Garden Sports by 0.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 641,995 shares of the company's stock worth $115,148,000 after purchasing an additional 4,297 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Madison Square Garden Sports during the 4th quarter worth about $56,617,000. Finally, State Street Corp increased its position in shares of Madison Square Garden Sports by 3.2% during the 1st quarter. State Street Corp now owns 283,276 shares of the company's stock worth $50,808,000 after purchasing an additional 8,816 shares during the last quarter. 63.91% of the stock is owned by institutional investors and hedge funds.
Get Madison Square Garden Sports alerts:Madison Square Garden Sports Price Performance
Shares of Madison Square Garden Sports stock opened at $148.75 on Thursday. The business has a 50-day moving average of $157.88 and a 200 day moving average of $161.36. Madison Square Garden Sports Corp. has a 12 month low of $145.41 and a 12 month high of $203.37. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 71.51 and a beta of 0.85.
Madison Square Garden Sports (NYSE:MSGS – Get Rating) last announced its earnings results on Thursday, August 18th. The company reported $1.11 EPS for the quarter, beating analysts' consensus estimates of ($0.32) by $1.43. The company had revenue of $175.20 million during the quarter, compared to analysts' expectations of $93.49 million. Madison Square Garden Sports had a negative return on equity of 26.73% and a net margin of 6.23%. Madison Square Garden Sports's revenue for the quarter was up 19.3% on a year-over-year basis. During the same period last year, the business posted $2.03 EPS. Equities research analysts anticipate that Madison Square Garden Sports Corp. will post 1.44 earnings per share for the current year.Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on MSGS. Wolfe Research cut their price objective on Madison Square Garden Sports from $238.00 to $231.00 and set an "outperform" rating for the company in a research report on Thursday, June 2nd. Macquarie lowered their target price on Madison Square Garden Sports from $240.00 to $230.00 and set an "outperform" rating for the company in a report on Tuesday, July 5th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $220.25.
Madison Square Garden Sports Company Profile
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Madison Square Garden Sports Corp. operates as a professional sports company. 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 two 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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