Madison Square Garden Sports Corp. (NYSE:MSGS) Shares Acquired by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd increased its stake in Madison Square Garden Sports Corp. (NYSE:MSGS) by 544.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,612 shares of the company’s stock after acquiring an additional 3,896 shares during the period. Point72 Hong Kong Ltd’s holdings in Madison Square Garden Sports were worth $868,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MSGS. SG Americas Securities LLC acquired a new position in Madison Square Garden Sports during the second quarter valued at approximately $1,427,000. Norges Bank acquired a new position in Madison Square Garden Sports during the fourth quarter valued at approximately $35,002,000. SageView Advisory Group LLC lifted its position in Madison Square Garden Sports by 535.5% during the first quarter. SageView Advisory Group LLC now owns 8,566 shares of the company’s stock valued at $1,581,000 after buying an additional 7,218 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Madison Square Garden Sports during the first quarter valued at approximately $918,000. Finally, Capstone Investment Advisors LLC raised its stake in shares of Madison Square Garden Sports by 166.7% during the first quarter. Capstone Investment Advisors LLC now owns 6,630 shares of the company’s stock valued at $1,223,000 after purchasing an additional 4,144 shares during the period. 68.94% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden Sports Stock Down 0.2 %

MSGS opened at $206.21 on Thursday. The firm has a market capitalization of $4.94 billion, a P/E ratio of 210.42 and a beta of 0.94. The firm’s 50 day moving average is $201.95 and its 200-day moving average is $191.83. Madison Square Garden Sports Corp. has a 52-week low of $164.79 and a 52-week high of $213.26.

Madison Square Garden Sports (NYSE:MSGS) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.73. The business had revenue of $227.25 million during the quarter, compared to analyst estimates of $167.71 million. Madison Square Garden Sports had a net margin of 5.72% and a negative return on equity of 18.69%. The business’s revenue was up 79.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.39) earnings per share. Equities analysts expect that Madison Square Garden Sports Corp. will post 1.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO James Lawrence Dolan sold 629 shares of Madison Square Garden Sports stock in a transaction on Monday, August 26th. The shares were sold at an average price of $209.30, for a total value of $131,649.70. Following the completion of the sale, the chief executive officer now owns 10,192 shares in the company, valued at $2,133,185.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 22.28% of the company’s stock.

Analysts Set New Price Targets

Separately, Macquarie dropped their price objective on shares of Madison Square Garden Sports from $240.00 to $235.00 and set an “outperform” rating on the stock in a research note on Friday, August 16th.

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.