M&T Bank Corp Has $387,000 Stock Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

M&T Bank Corp decreased its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 2.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,856 shares of the company’s stock after selling 50 shares during the period. M&T Bank Corp’s holdings in Madison Square Garden Sports were worth $387,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its position in shares of Madison Square Garden Sports by 31.2% during the third quarter. Venturi Wealth Management LLC now owns 223 shares of the company’s stock worth $46,000 after purchasing an additional 53 shares in the last quarter. Creative Planning raised its position in Madison Square Garden Sports by 2.5% in the 3rd quarter. Creative Planning now owns 2,542 shares of the company’s stock worth $529,000 after purchasing an additional 61 shares during the last quarter. Arizona State Retirement System lifted its holdings in Madison Square Garden Sports by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 4,349 shares of the company’s stock worth $818,000 after buying an additional 83 shares in the last quarter. Pullen Investment Management LLC increased its stake in shares of Madison Square Garden Sports by 2.3% in the 2nd quarter. Pullen Investment Management LLC now owns 4,419 shares of the company’s stock valued at $831,000 after buying an additional 98 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in shares of Madison Square Garden Sports by 1.2% in the 2nd 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 period. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Sports Price Performance

Shares of NYSE:MSGS opened at $226.37 on Thursday. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of 77.79 and a beta of 0.91. The company has a 50 day moving average of $224.67 and a 200-day moving average of $207.88. Madison Square Garden Sports Corp. has a one year low of $176.10 and a one year high of $237.99.

Madison Square Garden Sports (NYSE:MSGS) last released its earnings results on Friday, November 1st. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.55. The firm had revenue of $53.31 million during the quarter, compared to analyst estimates of $43.71 million. Madison Square Garden Sports had a net margin of 6.75% and a negative return on equity of 23.81%. The business’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.79) EPS. Equities research analysts anticipate that Madison Square Garden Sports Corp. will post 0.81 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Macquarie raised their price target on Madison Square Garden Sports from $235.00 to $240.00 and gave the company an “outperform” rating in a report 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.