Zurcher Kantonalbank Zurich Cantonalbank Has $637,000 Stock Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 18.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,388 shares of the company’s stock after buying an additional 517 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Madison Square Garden Sports were worth $637,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. SG Americas Securities LLC bought a new position in Madison Square Garden Sports during the second quarter valued at about $1,427,000. Charles Schwab Investment Management Inc. raised its stake in shares of Madison Square Garden Sports by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 99,446 shares of the company’s stock valued at $18,082,000 after purchasing an additional 4,877 shares in the last quarter. Norges Bank bought a new position in Madison Square Garden Sports in the fourth quarter worth $35,002,000. SageView Advisory Group LLC boosted its stake in Madison Square Garden Sports by 535.5% during the first quarter. SageView Advisory Group LLC now owns 8,566 shares of the company’s stock worth $1,581,000 after buying an additional 7,218 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in Madison Square Garden Sports in the 1st quarter valued at $918,000. 68.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Madison Square Garden Sports Stock Performance

Shares of NYSE MSGS opened at $204.64 on Friday. The business has a fifty day moving average of $199.20 and a two-hundred day moving average of $190.23. Madison Square Garden Sports Corp. has a 52-week low of $164.79 and a 52-week high of $213.26. The stock has a market cap of $4.90 billion, a PE ratio of 208.82 and a beta of 0.95.

Madison Square Garden Sports (NYSE:MSGS) last released its quarterly earnings results on Tuesday, August 13th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.73. The firm had revenue of $227.25 million during the quarter, compared to analysts’ expectations of $167.71 million. Madison Square Garden Sports had a negative return on equity of 18.69% and a net margin of 5.72%. The business’s revenue was up 79.1% on a year-over-year basis. During the same period last year, the firm posted ($0.39) EPS. Analysts predict that Madison Square Garden Sports Corp. will post 1.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO James Lawrence Dolan sold 629 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $209.30, for a total value of $131,649.70. Following the completion of the sale, the chief executive officer now owns 10,192 shares of the company’s stock, valued at $2,133,185.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 22.28% of the company’s stock.

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.