Point72 DIFC Ltd Takes $543,000 Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Point72 DIFC Ltd acquired a new position in Madison Square Garden Sports Corp. (NYSE:MSGS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,884 shares of the company’s stock, valued at approximately $543,000.

Other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake in shares of Madison Square Garden Sports by 80.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock worth $42,000 after acquiring an additional 100 shares in the last quarter. GAMMA Investing LLC boosted its position in Madison Square Garden Sports by 179.8% during the second quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock worth $49,000 after purchasing an additional 169 shares during the period. Quent Capital LLC grew its holdings in Madison Square Garden Sports by 312.4% during the first 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 bought a new position in shares of Madison Square Garden Sports in the first quarter valued at approximately $111,000. Finally, Dnca Finance acquired a new stake in shares of Madison Square Garden Sports in the second quarter worth $113,000. 68.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Macquarie lowered their target price on shares of Madison Square Garden Sports from $240.00 to $235.00 and set an “outperform” rating on the stock in a research note on Friday, August 16th.

Madison Square Garden Sports Stock Performance

NYSE MSGS opened at $206.21 on Thursday. The stock has a market capitalization of $4.94 billion, a PE ratio of 210.42 and a beta of 0.94. The stock has a 50-day simple moving average of $201.95 and a 200 day simple moving average of $191.83. Madison Square Garden Sports Corp. has a twelve month low of $164.79 and a twelve month high of $213.26.

Madison Square Garden Sports (NYSE:MSGS) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.73. Madison Square Garden Sports had a negative return on equity of 18.69% and a net margin of 5.72%. The company had revenue of $227.25 million during the quarter, compared to analysts’ expectations of $167.71 million. During the same period in the prior year, the business earned ($0.39) earnings per share. Madison Square Garden Sports’s revenue for the quarter was up 79.1% compared to the same quarter last year. As a group, equities research analysts forecast that Madison Square Garden Sports Corp. will post 1.39 EPS for the current fiscal year.

Insider Transactions at Madison Square Garden Sports

In related 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 transaction, the chief executive officer now directly owns 10,192 shares of the company’s stock, valued at $2,133,185.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 22.28% of the stock is owned by insiders.

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.