Madison Square Garden Sports Corp. (NYSE:MSGS) Stock Position Cut by Sea Cliff Partners Management LP

Sea Cliff Partners Management LP lessened its holdings in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 18.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,583 shares of the company’s stock after selling 29,126 shares during the period. Madison Square Garden Sports accounts for approximately 8.0% of Sea Cliff Partners Management LP’s holdings, making the stock its 7th biggest position. Sea Cliff Partners Management LP’s holdings in Madison Square Garden Sports were worth $23,438,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its position in Madison Square Garden Sports by 80.6% during the first 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 period. GAMMA Investing LLC lifted its position in shares of Madison Square Garden Sports by 179.8% in the second quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock valued at $49,000 after acquiring an additional 169 shares in the last quarter. Quent Capital LLC lifted its position in shares of Madison Square Garden Sports by 312.4% in the first quarter. Quent Capital LLC now owns 565 shares of the company’s stock valued at $104,000 after acquiring an additional 428 shares in the last quarter. BNP Paribas bought a new stake in shares of Madison Square Garden Sports in the first quarter worth about $111,000. Finally, Dnca Finance bought a new stake in shares of Madison Square Garden Sports in the second quarter worth about $113,000. Institutional investors own 68.94% of the company’s stock.

Analyst Ratings Changes

Separately, Macquarie reduced their price objective on 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 Price Performance

Madison Square Garden Sports stock opened at $208.26 on Friday. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 212.51 and a beta of 0.94. The business has a fifty day moving average price of $202.34 and a 200-day moving average price of $192.04. Madison Square Garden Sports Corp. has a 1-year low of $164.79 and a 1-year high of $213.26.

Madison Square Garden Sports (NYSE:MSGS) last released its quarterly earnings data on Tuesday, August 13th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $227.25 million during the quarter, compared to analyst estimates of $167.71 million. During the same quarter last year, the business posted ($0.39) EPS. The company’s revenue was up 79.1% on a year-over-year basis. On average, equities research analysts anticipate that Madison Square Garden Sports Corp. will post 1.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO James Lawrence Dolan sold 629 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 10,192 shares in the company, valued at approximately $2,133,185.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 22.28% of the stock is currently owned by 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.