Allworth Financial LP Boosts Stock Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Allworth Financial LP raised its stake in Madison Square Garden Sports Corp. (NYSE:MSGS) by 81.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 127 shares of the company’s stock after purchasing an additional 57 shares during the period. Allworth Financial LP’s holdings in Madison Square Garden Sports were worth $28,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its stake in shares of Madison Square Garden Sports by 119.0% during the fourth quarter. Fifth Third Bancorp now owns 138 shares of the company’s stock worth $31,000 after acquiring an additional 75 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Madison Square Garden Sports during the fourth quarter worth about $43,000. Venturi Wealth Management LLC grew its stake in shares of Madison Square Garden Sports by 31.2% during the third quarter. Venturi Wealth Management LLC now owns 223 shares of the company’s stock worth $46,000 after acquiring an additional 53 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Madison Square Garden Sports by 35.3% during the fourth quarter. Versant Capital Management Inc now owns 234 shares of the company’s stock worth $53,000 after acquiring an additional 61 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Madison Square Garden Sports by 326.5% during the third quarter. Blue Trust Inc. now owns 418 shares of the company’s stock worth $87,000 after acquiring an additional 320 shares during the last quarter. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Macquarie boosted their price target on Madison Square Garden Sports from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday.

Madison Square Garden Sports Stock Up 0.3 %

Shares of NYSE MSGS opened at $202.59 on Thursday. The business’s 50 day moving average price is $215.43 and its 200 day moving average price is $216.06. The firm has a market cap of $4.86 billion, a P/E ratio of 85.48 and a beta of 0.91. Madison Square Garden Sports Corp. has a 52 week low of $178.35 and a 52 week high of $237.99.

Madison Square Garden Sports (NYSE:MSGS) last issued its earnings results on Tuesday, February 4th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.25). The firm had revenue of $357.80 million during the quarter, compared to analysts’ expectations of $352.68 million. Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. Madison Square Garden Sports’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 EPS. As a group, research analysts expect that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current year.

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.