Park Avenue Securities LLC Raises Stake in Madison Square Garden Sports Corp. (NYSE:MSGS)

Park Avenue Securities LLC increased its stake in Madison Square Garden Sports Corp. (NYSE:MSGS) by 8.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,263 shares of the company’s stock after acquiring an additional 339 shares during the period. Park Avenue Securities LLC’s holdings in Madison Square Garden Sports were worth $962,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Ariel Investments LLC boosted its position in shares of Madison Square Garden Sports by 3.5% in the second quarter. Ariel Investments LLC now owns 970,156 shares of the company’s stock worth $182,515,000 after acquiring an additional 33,031 shares during the last quarter. State Street Corp boosted its position in shares of 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 during the last quarter. Geode Capital Management LLC boosted its position in shares of Madison Square Garden Sports by 0.7% in the third quarter. Geode Capital Management LLC now owns 273,222 shares of the company’s stock worth $56,916,000 after acquiring an additional 1,913 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of Madison Square Garden Sports by 1,231.8% in the second quarter. Point72 Asset Management L.P. now owns 246,374 shares of the company’s stock worth $46,350,000 after acquiring an additional 227,874 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Madison Square Garden Sports by 0.7% in the second quarter. The Manufacturers Life Insurance Company now owns 229,609 shares of the company’s stock worth $43,196,000 after acquiring an additional 1,534 shares during the last quarter. 68.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Macquarie raised their target price on shares of Madison Square Garden Sports from $235.00 to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th.

Madison Square Garden Sports Stock Up 0.9 %

Shares of MSGS stock opened at $217.05 on Tuesday. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 74.59 and a beta of 0.91. Madison Square Garden Sports Corp. has a fifty-two week low of $178.35 and a fifty-two week high of $237.99. The firm’s 50 day moving average price is $224.49 and its two-hundred day moving average price is $213.05.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings results on Friday, November 1st. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.55. The firm had revenue of $53.31 million for the quarter, compared to analysts’ expectations of $43.71 million. Madison Square Garden Sports had a net margin of 6.75% and a negative return on equity of 23.81%. Madison Square Garden Sports’s revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.79) earnings per share. On average, equities analysts forecast that Madison Square Garden Sports Corp. will post 0.81 EPS for the current fiscal year.

Madison Square Garden Sports Company 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.