Bank of Montreal Can Trims Stock Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Bank of Montreal Can decreased its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS) by 45.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,793 shares of the company’s stock after selling 40,373 shares during the quarter. Bank of Montreal Can owned approximately 0.20% of Madison Square Garden Sports worth $10,151,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Venturi Wealth Management LLC increased its position in 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 purchasing an additional 53 shares during the last quarter. Creative Planning increased its holdings in shares of Madison Square Garden Sports by 2.5% during the 3rd quarter. Creative Planning now owns 2,542 shares of the company’s stock worth $529,000 after buying an additional 61 shares during the last quarter. Arizona State Retirement System raised its position in shares of Madison Square Garden Sports by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 4,349 shares of the company’s stock worth $818,000 after buying an additional 83 shares during the period. Pullen Investment Management LLC boosted its holdings in Madison Square Garden Sports by 2.3% in the second quarter. Pullen Investment Management LLC now owns 4,419 shares of the company’s stock valued at $831,000 after acquiring an additional 98 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Madison Square Garden Sports by 80.6% during the first quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock valued at $42,000 after acquiring an additional 100 shares during the period. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

Madison Square Garden Sports Stock Up 0.4 %

Shares of MSGS stock opened at $229.95 on Monday. Madison Square Garden Sports Corp. has a fifty-two week low of $167.08 and a fifty-two week high of $232.58. The firm’s 50 day moving average price is $219.42 and its two-hundred day moving average price is $203.86. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 79.02 and a beta of 0.92.

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

Analyst Upgrades and Downgrades

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

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.