Proficio Capital Partners LLC Takes Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Proficio Capital Partners LLC purchased a new position in Madison Square Garden Sports Corp. (NYSE:MSGS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,121 shares of the company’s stock, valued at approximately $3,413,000. Proficio Capital Partners LLC owned 0.06% of Madison Square Garden Sports as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MSGS. State Street Corp boosted its holdings in Madison Square Garden Sports by 1.2% in the third quarter. State Street Corp now owns 549,108 shares of the company’s stock worth $114,357,000 after acquiring an additional 6,640 shares in the last quarter. Geode Capital Management LLC boosted its stake in Madison Square Garden Sports by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 273,222 shares of the company’s stock worth $56,916,000 after purchasing an additional 1,913 shares in the last quarter. Systematic Financial Management LP grew its position in Madison Square Garden Sports by 13.3% during the 3rd quarter. Systematic Financial Management LP now owns 124,327 shares of the company’s stock valued at $25,893,000 after purchasing an additional 14,591 shares during the last quarter. Empirical Asset Management LLC bought a new stake in Madison Square Garden Sports during the 4th quarter valued at about $26,120,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Madison Square Garden Sports by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 115,530 shares of the company’s stock worth $26,073,000 after buying an additional 3,675 shares during the last quarter. Institutional investors own 68.94% of the company’s stock.

Insider Buying and Selling

In other Madison Square Garden Sports news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $189.92, for a total value of $6,044,204.00. Following the transaction, the insider now directly owns 5,097 shares of the company’s stock, valued at approximately $968,022.24. This trade represents a 86.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 22.10% of the stock is currently owned by corporate insiders.

Madison Square Garden Sports Price Performance

MSGS stock opened at $190.37 on Wednesday. Madison Square Garden Sports Corp. has a 1-year low of $178.35 and a 1-year high of $237.99. The stock has a market capitalization of $4.57 billion, a P/E ratio of 80.33 and a beta of 0.91. The business has a fifty day moving average price of $207.59 and a 200-day moving average price of $215.13.

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

Wall Street Analyst Weigh In

Separately, Macquarie raised their price target on shares of Madison Square Garden Sports from $240.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th.

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.