Public Sector Pension Investment Board Grows Stake in Madison Square Garden Sports Corp. (NYSE:MSGS)

Public Sector Pension Investment Board boosted its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 7.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,708 shares of the company’s stock after purchasing an additional 2,480 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.15% of Madison Square Garden Sports worth $6,906,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in Madison Square Garden Sports by 9.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 171,864 shares of the company’s stock valued at $31,250,000 after acquiring an additional 14,741 shares during the last quarter. Norges Bank acquired a new stake in shares of Madison Square Garden Sports in the fourth quarter valued at approximately $35,002,000. SageView Advisory Group LLC purchased a new position in shares of Madison Square Garden Sports during the 4th quarter worth approximately $253,000. Cape Investment Advisory Inc. raised its position in shares of Madison Square Garden Sports by 400.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 500 shares of the company’s stock worth $91,000 after purchasing an additional 400 shares during the last quarter. Finally, Stifel Financial Corp lifted its stake in Madison Square Garden Sports by 18.3% in the 4th quarter. Stifel Financial Corp now owns 29,097 shares of the company’s stock valued at $5,291,000 after buying an additional 4,501 shares in the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

Insiders Place Their Bets

In related news, CEO James Lawrence Dolan sold 629 shares of the company’s stock in a transaction 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 directly owns 10,192 shares in the company, valued at $2,133,185.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 22.28% of the company’s stock.

Madison Square Garden Sports Trading Up 0.3 %

NYSE:MSGS opened at $206.72 on Wednesday. Madison Square Garden Sports Corp. has a 12-month low of $164.79 and a 12-month high of $213.26. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 210.94 and a beta of 0.94. The company’s 50-day moving average is $201.80 and its two-hundred day moving average is $191.68.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.73. The business 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 quarterly revenue was up 79.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.39) earnings per share. On average, equities research analysts forecast that Madison Square Garden Sports Corp. will post 1.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Macquarie dropped their price target on 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.

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.