Bank of Montreal Can Decreases Stock Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Bank of Montreal Can decreased its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 45.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 48,793 shares of the company’s stock after selling 40,373 shares during the period. Bank of Montreal Can’s holdings in Madison Square Garden Sports were worth $10,151,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in MSGS. EverSource Wealth Advisors LLC grew its stake in shares of 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 acquiring an additional 100 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in Madison Square Garden Sports by 31.2% in the third quarter. Venturi Wealth Management LLC now owns 223 shares of the company’s stock valued at $46,000 after purchasing an additional 53 shares during the last quarter. GAMMA Investing LLC grew its stake in Madison Square Garden Sports by 179.8% during the 2nd quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock valued at $49,000 after purchasing an additional 169 shares in the last quarter. Blue Trust Inc. increased its holdings in Madison Square Garden Sports by 326.5% during the 3rd quarter. Blue Trust Inc. now owns 418 shares of the company’s stock worth $87,000 after purchasing an additional 320 shares during the last quarter. Finally, Dnca Finance acquired a new position in shares of Madison Square Garden Sports in the 2nd quarter valued at approximately $113,000. Institutional investors and hedge funds own 68.94% of the company’s stock.

Wall Street Analyst Weigh In

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

Madison Square Garden Sports Stock Performance

MSGS opened at $229.95 on Monday. The company has a market capitalization of $5.51 billion, a P/E ratio of 79.02 and a beta of 0.92. The company has a 50-day moving average of $219.42 and a 200-day moving average of $203.86. Madison Square Garden Sports Corp. has a 1-year low of $167.08 and a 1-year high of $232.58.

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

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.