Barington Capital Group L.P. Makes New $3.01 Million Investment in Madison Square Garden Sports Corp. (NYSE:MSGS)

Barington Capital Group L.P. acquired a new stake in Madison Square Garden Sports Corp. (NYSE:MSGS) in the 2nd quarter, Holdings Channel reports. The fund acquired 16,000 shares of the company’s stock, valued at approximately $3,010,000. Madison Square Garden Sports comprises approximately 3.4% of Barington Capital Group L.P.’s portfolio, making the stock its 9th largest holding.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted 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 acquiring an additional 12,813 shares during the last quarter. Ariel Investments LLC lifted its stake in Madison Square Garden Sports by 3.5% during 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 last quarter. Gamco Investors INC. ET AL boosted its holdings in Madison Square Garden Sports by 3.7% during the first quarter. Gamco Investors INC. ET AL now owns 594,169 shares of the company’s stock worth $109,636,000 after buying an additional 21,149 shares in the last quarter. Gabelli Funds LLC grew its position in Madison Square Garden Sports by 0.4% in the second quarter. Gabelli Funds LLC now owns 415,288 shares of the company’s stock worth $78,128,000 after buying an additional 1,488 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of Madison Square Garden Sports by 1,231.8% in the second quarter. Point72 Asset Management L.P. now owns 246,374 shares of the company’s stock valued at $46,350,000 after buying an additional 227,874 shares in the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

Madison Square Garden Sports Stock Down 0.1 %

NYSE:MSGS opened at $208.05 on Friday. The stock has a fifty day simple moving average of $202.57 and a 200 day simple moving average of $192.25. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 212.30 and a beta of 0.94. Madison Square Garden Sports Corp. has a 1-year low of $164.79 and a 1-year high of $213.26.

Madison Square Garden Sports (NYSE:MSGS) last released its earnings results on Tuesday, August 13th. The company reported $1.06 earnings per share for the quarter, topping 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 firm’s quarterly revenue was up 79.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.39) earnings per share. Equities analysts predict that Madison Square Garden Sports Corp. will post 1.39 earnings per share for the current year.

Insider Buying and Selling at Madison Square Garden Sports

In other news, CEO James Lawrence Dolan sold 629 shares of the firm’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 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 legal filing with the SEC, which is accessible through this link. Company insiders own 22.28% of the company’s stock.

Analyst Ratings Changes

Separately, Macquarie reduced their price objective on 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.

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.