Geode Capital Management LLC Raises Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

Geode Capital Management LLC lifted its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 273,222 shares of the company’s stock after purchasing an additional 1,913 shares during the quarter. Geode Capital Management LLC owned 1.14% of Madison Square Garden Sports worth $56,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MSGS. Venturi Wealth Management LLC raised its position in Madison Square Garden Sports by 31.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 223 shares of the company’s stock worth $46,000 after buying an additional 53 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Madison Square Garden Sports by 326.5% in the third quarter. Blue Trust Inc. now owns 418 shares of the company’s stock worth $87,000 after acquiring an additional 320 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in shares of Madison Square Garden Sports during the third quarter valued at approximately $119,000. Quent Capital LLC lifted its position in Madison Square Garden Sports by 271.3% during the third quarter. Quent Capital LLC now owns 609 shares of the company’s stock valued at $127,000 after purchasing an additional 445 shares during the period. Finally, nVerses Capital LLC bought a new stake in Madison Square Garden Sports in the 2nd quarter worth approximately $132,000. 68.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Macquarie increased their price target 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 Stock Up 0.7 %

Madison Square Garden Sports stock opened at $225.35 on Monday. The business has a 50-day simple moving average of $225.07 and a two-hundred day simple moving average of $208.39. Madison Square Garden Sports Corp. has a 52-week low of $176.27 and a 52-week high of $237.99. The company has a market cap of $5.40 billion, a P/E ratio of 77.44 and a beta of 0.91.

Madison Square Garden Sports (NYSE:MSGS) last announced its earnings results on Friday, November 1st. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.55. The business 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 firm’s revenue was up 23.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.79) earnings per share. Research analysts anticipate 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.