State Street Corp Has $114.36 Million Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

State Street Corp boosted its stake in Madison Square Garden Sports Corp. (NYSE:MSGS) by 1.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 549,108 shares of the company’s stock after purchasing an additional 6,640 shares during the quarter. State Street Corp owned about 2.29% of Madison Square Garden Sports worth $114,357,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. increased its stake in shares of Madison Square Garden Sports by 1,231.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 246,374 shares of the company’s stock valued at $46,350,000 after acquiring an additional 227,874 shares during the last quarter. Bank of Montreal Can increased its stake in Madison Square Garden Sports by 139.2% in the second quarter. Bank of Montreal Can now owns 89,166 shares of the company’s stock valued at $16,900,000 after purchasing an additional 51,897 shares in the last quarter. Ariel Investments LLC raised its holdings in Madison Square Garden Sports by 3.5% in the second quarter. Ariel Investments LLC now owns 970,156 shares of the company’s stock worth $182,515,000 after purchasing an additional 33,031 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of Madison Square Garden Sports by 75.1% during the third quarter. Harbor Capital Advisors Inc. now owns 68,632 shares of the company’s stock worth $14,293,000 after purchasing an additional 29,445 shares in the last quarter. Finally, Algert Global LLC grew its holdings in shares of Madison Square Garden Sports by 535.4% in the 3rd quarter. Algert Global LLC now owns 31,459 shares of the company’s stock valued at $6,552,000 after buying an additional 26,508 shares during the period. Institutional investors and hedge funds own 68.94% of the company’s stock.

Madison Square Garden Sports Price Performance

NYSE:MSGS opened at $235.17 on Monday. The business’s 50-day simple moving average is $223.67 and its 200-day simple moving average is $207.05. Madison Square Garden Sports Corp. has a fifty-two week low of $171.61 and a fifty-two week high of $235.19. The stock has a market capitalization of $5.63 billion, a PE ratio of 80.81 and a beta of 0.91.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings results on Friday, November 1st. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $53.31 million for the quarter, compared to analyst estimates of $43.71 million. During the same quarter in the previous year, the firm posted ($0.79) earnings per share. The business’s revenue was up 23.8% on a year-over-year basis. On average, research analysts expect that Madison Square Garden Sports Corp. will post 0.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Macquarie raised their price objective on 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.

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.