Louisiana State Employees Retirement System Lowers Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Louisiana State Employees Retirement System decreased its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,100 shares of the company’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Madison Square Garden Sports were worth $1,687,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MSGS. Norden Group LLC purchased a new position in Madison Square Garden Sports during the 1st quarter worth $555,000. Diversify Advisory Services LLC purchased a new position in Madison Square Garden Sports during the first quarter worth about $224,000. Capstone Investment Advisors LLC grew its position in Madison Square Garden Sports by 166.7% in the 1st quarter. Capstone Investment Advisors LLC now owns 6,630 shares of the company’s stock worth $1,223,000 after purchasing an additional 4,144 shares in the last quarter. Pullen Investment Management LLC purchased a new stake in Madison Square Garden Sports in the 1st quarter valued at about $797,000. Finally, BNP Paribas bought a new position in shares of Madison Square Garden Sports during the 1st quarter worth approximately $111,000. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Sports Price Performance

Shares of NYSE:MSGS opened at $224.00 on Thursday. The company has a market capitalization of $5.37 billion, a PE ratio of 92.18 and a beta of 0.93. Madison Square Garden Sports Corp. has a 1 year low of $165.78 and a 1 year high of $227.66. The business has a fifty day moving average price of $211.27 and a two-hundred day moving average price of $197.63.

Madison Square Garden Sports (NYSE:MSGS) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.73. The business had revenue of $227.25 million during the quarter, compared to the consensus estimate of $167.71 million. Madison Square Garden Sports had a net margin of 5.72% and a negative return on equity of 18.69%. The firm’s quarterly revenue was up 79.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.39) earnings per share. Sell-side analysts anticipate that Madison Square Garden Sports Corp. will post 1.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Macquarie reduced their target price on Madison Square Garden Sports from $240.00 to $235.00 and set an “outperform” rating for the company in a report on Friday, August 16th.

Insider Transactions at Madison Square Garden Sports

In other Madison Square Garden Sports news, CEO James Lawrence Dolan sold 629 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 10,192 shares of the company’s stock, valued at approximately $2,133,185.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 22.10% of the stock is currently owned by company 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.