Seven Eight Capital LP Takes $477,000 Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Seven Eight Capital LP bought a new position in Madison Square Garden Sports Corp. (NYSE:MSGS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,536 shares of the company’s stock, valued at approximately $477,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in Madison Square Garden Sports by 80.6% during the first quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock worth $42,000 after acquiring an additional 100 shares during the last quarter. GAMMA Investing LLC increased its position in 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. Quadrant Capital Group LLC raised its holdings in Madison Square Garden Sports by 40.8% in the fourth quarter. Quadrant Capital Group LLC now owns 449 shares of the company’s stock valued at $82,000 after buying an additional 130 shares during the period. Cape Investment Advisory Inc. lifted its position in Madison Square Garden Sports by 400.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 500 shares of the company’s stock valued at $91,000 after buying an additional 400 shares in the last quarter. Finally, Quent Capital LLC grew its stake in Madison Square Garden Sports by 312.4% during the first quarter. Quent Capital LLC now owns 565 shares of the company’s stock worth $104,000 after buying an additional 428 shares during the period. Institutional investors and hedge funds own 68.94% of the company’s stock.

Insider Transactions at Madison Square Garden Sports

In related news, CEO James Lawrence Dolan sold 629 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $209.30, for a total transaction of $131,649.70. Following the completion of the sale, the chief executive officer now directly owns 10,192 shares of the company’s stock, valued at approximately $2,133,185.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 22.28% of the company’s stock.

Madison Square Garden Sports Price Performance

NYSE:MSGS opened at $207.02 on Monday. Madison Square Garden Sports Corp. has a 12 month low of $164.79 and a 12 month high of $213.26. The firm has a market capitalization of $4.96 billion, a PE ratio of 211.24 and a beta of 0.94. The business’s 50-day moving average is $201.63 and its two-hundred day moving average is $191.49.

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

Analyst Ratings Changes

Separately, Macquarie cut their target price 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.