Madison Square Garden Sports Corp. (NYSE:MSGS) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS) by 8.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,062 shares of the company’s stock after selling 3,472 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.16% of Madison Square Garden Sports worth $7,927,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in Madison Square Garden Sports during the second quarter worth about $1,427,000. OFI Invest Asset Management purchased a new stake in shares of Madison Square Garden Sports during the 2nd quarter worth approximately $831,000. Harbor Capital Advisors Inc. grew its holdings in shares of 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 acquiring an additional 29,445 shares during the period. Point72 DIFC Ltd purchased a new position in Madison Square Garden Sports in the 2nd quarter valued at approximately $543,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Madison Square Garden Sports during the third quarter worth $861,000. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Madison Square Garden Sports Trading Down 1.1 %

Shares of MSGS opened at $227.77 on Tuesday. Madison Square Garden Sports Corp. has a 12-month low of $169.98 and a 12-month high of $232.58. The stock has a market cap of $5.46 billion, a P/E ratio of 78.27 and a beta of 0.91. The company has a 50-day moving average of $221.71 and a two-hundred day moving average of $205.35.

Madison Square Garden Sports (NYSE:MSGS) last posted its earnings results on Friday, November 1st. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.55. The firm had revenue of $53.31 million for the quarter, compared to analyst estimates of $43.71 million. Madison Square Garden Sports had a negative return on equity of 23.81% and a net margin of 6.75%. Madison Square Garden Sports’s revenue was up 23.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.79) EPS. As a group, analysts forecast that Madison Square Garden Sports Corp. will post 0.81 EPS for the current fiscal 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.