Victory Capital Management Inc. Increases Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Victory Capital Management Inc. boosted its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 6.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,796 shares of the company’s stock after purchasing an additional 4,541 shares during the period. Victory Capital Management Inc.’s holdings in Madison Square Garden Sports were worth $15,200,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MSGS. International Assets Investment Management LLC purchased a new position in Madison Square Garden Sports during the fourth quarter worth approximately $430,000. Truist Financial Corp increased its position in shares of Madison Square Garden Sports by 35.6% in the fourth quarter. Truist Financial Corp now owns 1,621 shares of the company’s stock worth $295,000 after acquiring an additional 426 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position 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 worth $18,082,000 after acquiring an additional 4,877 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Madison Square Garden Sports by 9.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 171,864 shares of the company’s stock worth $31,250,000 after acquiring an additional 14,741 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Madison Square Garden Sports by 40.8% during the 4th quarter. Quadrant Capital Group LLC now owns 449 shares of the company’s stock valued at $82,000 after purchasing an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Analysts Set New Price Targets

Separately, Macquarie lowered 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 report on Friday, August 16th.

Madison Square Garden Sports Price Performance

NYSE MSGS opened at $204.78 on Friday. The company’s fifty day moving average price is $200.39 and its two-hundred day moving average price is $190.79. Madison Square Garden Sports Corp. has a 12 month low of $164.79 and a 12 month high of $213.26. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 208.96 and a beta of 0.94.

Madison Square Garden Sports (NYSE:MSGS) last posted its quarterly 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. The company had revenue of $227.25 million for the quarter, compared to the consensus estimate of $167.71 million. Madison Square Garden Sports had a net margin of 5.72% and a negative return on equity of 18.69%. The company’s revenue for the quarter was up 79.1% on a year-over-year basis. During the same period last year, the firm posted ($0.39) EPS. As a group, analysts anticipate that Madison Square Garden Sports Corp. will post 1.39 EPS for the current year.

Insider Activity at Madison Square Garden Sports

In other Madison Square Garden Sports news, CEO James Lawrence Dolan sold 629 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $209.30, for a total transaction of $131,649.70. Following the transaction, the chief executive officer now owns 10,192 shares of the company’s stock, valued at approximately $2,133,185.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 22.28% of the stock is currently owned by insiders.

Madison Square Garden Sports 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.