Marshall Wace LLP Acquires Shares of 3,400 Madison Square Garden Sports Corp. (NYSE:MSGS)

Marshall Wace LLP bought a new position in Madison Square Garden Sports Corp. (NYSE:MSGS) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 3,400 shares of the company’s stock, valued at approximately $640,000.

A number of other large investors have also recently modified their holdings of MSGS. SG Americas Securities LLC purchased a new stake in Madison Square Garden Sports in the second quarter worth about $1,427,000. SageView Advisory Group LLC boosted its position in shares of 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 purchasing an additional 7,218 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in Madison Square Garden Sports in the first quarter worth $918,000. Capstone Investment Advisors LLC raised its holdings in Madison Square Garden Sports by 166.7% in the first quarter. Capstone Investment Advisors LLC now owns 6,630 shares of the company’s stock worth $1,223,000 after purchasing an additional 4,144 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new position in Madison Square Garden Sports during the second quarter valued at $831,000. Institutional investors own 68.94% of the company’s stock.

Insider Buying and Selling

In other Madison Square Garden Sports news, CEO James Lawrence Dolan sold 629 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $2,133,185.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.28% of the stock is currently owned by company insiders.

Madison Square Garden Sports Stock Performance

Shares of NYSE MSGS opened at $215.25 on Wednesday. The company has a 50 day simple moving average of $204.31 and a two-hundred day simple moving average of $193.54. Madison Square Garden Sports Corp. has a fifty-two week low of $164.79 and a fifty-two week high of $217.32. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of 219.64 and a beta of 0.93.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $227.25 million during the quarter, compared to analysts’ expectations of $167.71 million. During the same quarter in the previous year, the business earned ($0.39) earnings per share. The firm’s quarterly revenue was up 79.1% compared to the same quarter last year. On average, analysts forecast that Madison Square Garden Sports Corp. will post 1.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Macquarie reduced 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 report on Friday, August 16th.

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.