Millennium Management LLC Lowers Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Millennium Management LLC reduced its stake in Madison Square Garden Sports Corp. (NYSE:MSGS) by 35.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,658 shares of the company’s stock after selling 15,983 shares during the quarter. Millennium Management LLC owned approximately 0.12% of Madison Square Garden Sports worth $5,391,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MSGS. EverSource Wealth Advisors LLC raised its position in Madison Square Garden Sports by 80.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock valued at $42,000 after buying an additional 100 shares during the last quarter. GAMMA Investing LLC raised its position in Madison Square Garden Sports by 179.8% in the 2nd quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock valued at $49,000 after buying an additional 169 shares during the last quarter. Quent Capital LLC increased its position in shares of Madison Square Garden Sports by 312.4% during the 1st quarter. Quent Capital LLC now owns 565 shares of the company’s stock valued at $104,000 after purchasing an additional 428 shares during the last quarter. BNP Paribas purchased a new stake in shares of Madison Square Garden Sports during the 1st quarter valued at $111,000. Finally, Dnca Finance purchased a new stake in shares of Madison Square Garden Sports during the 2nd quarter valued at $113,000. 68.94% of the stock is owned by hedge funds and other institutional investors.

Madison Square Garden Sports Price Performance

Shares of Madison Square Garden Sports stock opened at $216.10 on Friday. Madison Square Garden Sports Corp. has a 1 year low of $164.79 and a 1 year high of $217.32. The firm has a market cap of $5.18 billion, a PE ratio of 88.93 and a beta of 0.93. The stock has a fifty day moving average price of $205.55 and a 200-day moving average price of $194.30.

Madison Square Garden Sports (NYSE:MSGS) last announced its earnings results 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 firm had revenue of $227.25 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm posted ($0.39) EPS. As a group, equities analysts anticipate that Madison Square Garden Sports Corp. will post 1.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Macquarie decreased their target price 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.

Insider Transactions at Madison Square Garden Sports

In other news, CEO James Lawrence Dolan sold 629 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $209.30, for a total transaction of $131,649.70. Following the completion of the transaction, the chief executive officer now owns 10,192 shares in the company, valued at approximately $2,133,185.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.28% of the stock is owned by corporate insiders.

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.