Madison Square Garden Sports Corp. (NYSE:MSGS) Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP reduced its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS) by 6.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 109,736 shares of the company’s stock after selling 7,823 shares during the quarter. Systematic Financial Management LP’s holdings in Madison Square Garden Sports were worth $20,645,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Madison Square Garden Sports by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,939,705 shares of the company’s stock valued at $357,914,000 after buying an additional 12,813 shares during the period. Ariel Investments LLC grew its holdings in Madison Square Garden Sports by 3.5% in the second 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 period. Gamco Investors INC. ET AL grew its holdings in Madison Square Garden Sports by 3.7% in the first quarter. Gamco Investors INC. ET AL now owns 594,169 shares of the company’s stock valued at $109,636,000 after purchasing an additional 21,149 shares during the period. Gabelli Funds LLC increased its position in Madison Square Garden Sports by 0.4% during the second quarter. Gabelli Funds LLC now owns 415,288 shares of the company’s stock worth $78,128,000 after purchasing an additional 1,488 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in Madison Square Garden Sports by 1,231.8% during the second quarter. Point72 Asset Management L.P. now owns 246,374 shares of the company’s stock worth $46,350,000 after purchasing an additional 227,874 shares during the period. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

Madison Square Garden Sports Price Performance

Shares of NYSE:MSGS opened at $208.05 on Friday. The business has a 50-day moving average of $202.57 and a two-hundred day moving average of $192.25. The firm has a market capitalization of $4.98 billion, a PE ratio of 212.30 and a beta of 0.94. Madison Square Garden Sports Corp. has a 12 month low of $164.79 and a 12 month high of $213.26.

Madison Square Garden Sports (NYSE:MSGS) last issued its earnings results on Tuesday, August 13th. The company reported $1.06 earnings per share (EPS) for the quarter, topping 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) EPS. The company’s revenue for the quarter was up 79.1% on a year-over-year basis. As a group, research analysts anticipate that Madison Square Garden Sports Corp. will post 1.39 earnings per share for the current year.

Insider Transactions at Madison Square Garden Sports

In other Madison Square Garden Sports news, CEO James Lawrence Dolan sold 629 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $209.30, for a total value of $131,649.70. Following the completion of the transaction, the chief executive officer now owns 10,192 shares in the company, valued at approximately $2,133,185.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 22.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Macquarie lowered their price objective on shares of Madison Square Garden Sports from $240.00 to $235.00 and set an “outperform” rating for the company in a research note on Friday, August 16th.

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.