BNP Paribas Financial Markets Has $7.07 Million Stake in Madison Square Garden Sports Corp. (NYSE:MSGS)

BNP Paribas Financial Markets raised its position in Madison Square Garden Sports Corp. (NYSE:MSGS) by 69.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,961 shares of the company’s stock after acquiring an additional 13,972 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.14% of Madison Square Garden Sports worth $7,073,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ariel Investments LLC lifted its stake in Madison Square Garden Sports by 3.5% in the 2nd quarter. Ariel Investments LLC now owns 970,156 shares of the company’s stock valued at $182,515,000 after purchasing an additional 33,031 shares during the last quarter. Gabelli Funds LLC raised its stake in Madison Square Garden Sports by 0.4% in the second quarter. Gabelli Funds LLC now owns 415,288 shares of the company’s stock valued at $78,128,000 after buying an additional 1,488 shares during the period. Point72 Asset Management L.P. lifted 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 valued at $46,350,000 after buying an additional 227,874 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Madison Square Garden Sports by 0.7% during the 2nd 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 period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Madison Square Garden Sports by 10.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 211,100 shares of the company’s stock worth $39,716,000 after acquiring an additional 19,585 shares during the last quarter. Institutional investors own 68.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Madison Square Garden Sports Stock Performance

Shares of MSGS opened at $229.48 on Tuesday. The firm has a market cap of $5.50 billion, a P/E ratio of 78.80 and a beta of 0.92. Madison Square Garden Sports Corp. has a 52 week low of $168.32 and a 52 week high of $232.58. The firm’s 50-day simple moving average is $219.42 and its 200 day simple moving average is $203.86.

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