Concentric Capital Strategies LP Sells 45,909 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Concentric Capital Strategies LP lowered its position in Madison Square Garden Sports Corp. (NYSE:MSGS) by 42.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 61,216 shares of the company’s stock after selling 45,909 shares during the quarter. Concentric Capital Strategies LP’s holdings in Madison Square Garden Sports were worth $12,749,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in shares of Madison Square Garden Sports by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,909 shares of the company’s stock valued at $2,567,000 after buying an additional 567 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Madison Square Garden Sports by 80.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock worth $42,000 after purchasing an additional 100 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Madison Square Garden Sports by 179.8% during the 2nd quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock valued at $49,000 after purchasing an additional 169 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Madison Square Garden Sports by 306.5% during the second quarter. Harbor Capital Advisors Inc. now owns 39,187 shares of the company’s stock valued at $7,372,000 after purchasing an additional 29,547 shares in the last quarter. Finally, Park Avenue Securities LLC increased its stake in Madison Square Garden Sports by 25.7% in the 2nd quarter. Park Avenue Securities LLC now owns 3,282 shares of the company’s stock worth $617,000 after acquiring an additional 671 shares during the last quarter. 68.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Macquarie upped their target price 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 Trading Up 0.4 %

Shares of NYSE:MSGS opened at $229.95 on Monday. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 79.02 and a beta of 0.92. Madison Square Garden Sports Corp. has a 12 month low of $167.08 and a 12 month high of $232.58. The firm’s 50-day moving average is $219.42 and its 200 day moving average is $203.86.

Madison Square Garden Sports (NYSE:MSGS) last released its earnings results 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%. The business’s revenue was up 23.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.79) earnings per share. As a group, equities analysts forecast that Madison Square Garden Sports Corp. will post 0.81 EPS for the current fiscal 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.