State of New Jersey Common Pension Fund D Sells 457 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

State of New Jersey Common Pension Fund D lowered its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 4.6% during the third quarter, Holdings Channel.com reports. The firm owned 9,542 shares of the company’s stock after selling 457 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Madison Square Garden Sports were worth $1,987,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Madison Square Garden Sports during the 2nd quarter worth $1,427,000. OFI Invest Asset Management bought a new position in Madison Square Garden Sports during the second quarter worth about $831,000. Harbor Capital Advisors Inc. raised its stake in Madison Square Garden Sports by 75.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 68,632 shares of the company’s stock worth $14,293,000 after purchasing an additional 29,445 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Madison Square Garden Sports in the 2nd quarter valued at about $543,000. Finally, Swiss National Bank grew its position in shares of Madison Square Garden Sports by 0.3% during the 1st quarter. Swiss National Bank now owns 30,633 shares of the company’s stock worth $5,652,000 after purchasing an additional 100 shares in the last quarter. 68.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Macquarie boosted their price target on Madison Square Garden Sports from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th.

Insider Activity

In related news, CEO James Lawrence Dolan sold 629 shares of Madison Square Garden Sports stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $209.30, for a total transaction of $131,649.70. Following the sale, the chief executive officer now directly owns 10,192 shares of the company’s stock, valued at approximately $2,133,185.60. The trade was a 5.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 22.10% of the company’s stock.

Madison Square Garden Sports Stock Performance

Shares of NYSE MSGS opened at $218.86 on Friday. Madison Square Garden Sports Corp. has a 52 week low of $166.26 and a 52 week high of $230.69. The stock’s fifty day moving average is $215.00 and its 200 day moving average is $200.93. The stock has a market capitalization of $5.24 billion, a P/E ratio of 75.21 and a beta of 0.92.

Madison Square Garden Sports (NYSE:MSGS) last issued its earnings results on Friday, November 1st. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.86) by $0.55. The company had revenue of $53.31 million during the quarter, compared to analysts’ expectations of $43.71 million. Madison Square Garden Sports had a net margin of 6.75% and a negative return on equity of 23.81%. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.79) EPS. Equities research analysts forecast that Madison Square Garden Sports Corp. will post 0.81 earnings per share for the current year.

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.