Madison Square Garden Sports Corp. (NYSE:MSGS) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its holdings in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 74,067 shares of the company’s stock after selling 2,079 shares during the period. Wellington Management Group LLP’s holdings in Madison Square Garden Sports were worth $15,425,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Louisiana State Employees Retirement System raised its stake in Madison Square Garden Sports by 1.2% in the second quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the company’s stock valued at $1,580,000 after buying an additional 100 shares during the last quarter. Argent Capital Management LLC increased its holdings in shares of Madison Square Garden Sports by 60.6% during the second quarter. Argent Capital Management LLC now owns 1,889 shares of the company’s stock valued at $355,000 after acquiring an additional 713 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Madison Square Garden Sports by 1.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 113,969 shares of the company’s stock worth $21,441,000 after purchasing an additional 2,096 shares in the last quarter. Pullen Investment Management LLC grew its position in Madison Square Garden Sports by 2.3% during the 2nd quarter. Pullen Investment Management LLC now owns 4,419 shares of the company’s stock worth $831,000 after purchasing an additional 98 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Madison Square Garden Sports by 18.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,388 shares of the company’s stock valued at $637,000 after purchasing an additional 517 shares in the last quarter. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Madison Square Garden Sports Stock Performance

Madison Square Garden Sports stock opened at $235.17 on Friday. Madison Square Garden Sports Corp. has a fifty-two week low of $171.61 and a fifty-two week high of $235.19. The company has a market cap of $5.63 billion, a PE ratio of 80.81 and a beta of 0.91. The business’s 50-day simple moving average is $223.67 and its two-hundred day simple moving average is $206.88.

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

Analyst Ratings Changes

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

Madison Square Garden Sports 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.