Quest Partners LLC Makes New $1.96 Million Investment in Madison Square Garden Sports Corp. (NYSE:MSGS)

Quest Partners LLC acquired a new stake in Madison Square Garden Sports Corp. (NYSE:MSGS) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 9,429 shares of the company’s stock, valued at approximately $1,964,000.

Other hedge funds also recently modified their holdings of the company. Venturi Wealth Management LLC grew its holdings in Madison Square Garden Sports by 31.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 223 shares of the company’s stock valued at $46,000 after buying an additional 53 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings 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 valued at $42,000 after purchasing an additional 100 shares during the period. GAMMA Investing LLC grew its position 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 worth $49,000 after purchasing an additional 169 shares in the last quarter. Blue Trust Inc. raised its position in shares of Madison Square Garden Sports by 326.5% in the third quarter. Blue Trust Inc. now owns 418 shares of the company’s stock valued at $87,000 after buying an additional 320 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Madison Square Garden Sports during the third quarter worth approximately $119,000. Institutional investors and hedge funds own 68.94% of the company’s stock.

Insider Activity at Madison Square Garden Sports

In other news, CEO James Lawrence Dolan sold 629 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $209.30, for a total value of $131,649.70. Following the completion of the transaction, the chief executive officer now directly owns 10,192 shares in the company, valued at approximately $2,133,185.60. This represents a 5.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Macquarie upped their target price on 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 0.1 %

Shares of Madison Square Garden Sports stock opened at $219.01 on Tuesday. The company has a 50 day moving average of $215.34 and a 200-day moving average of $201.29. The company has a market cap of $5.25 billion, a PE ratio of 75.26 and a beta of 0.92. Madison Square Garden Sports Corp. has a 1-year low of $166.26 and a 1-year high of $230.69.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $43.71 million. Madison Square Garden Sports had a negative return on equity of 23.81% and a net margin of 6.75%. Madison Square Garden Sports’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.79) EPS. Research analysts forecast that Madison Square Garden Sports Corp. will post 0.81 earnings per share for the current year.

Madison Square Garden Sports Company 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.