Blue Trust Inc. Boosts Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Blue Trust Inc. grew its position in Madison Square Garden Sports Corp. (NYSE:MSGS) by 39.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 584 shares of the company’s stock after buying an additional 166 shares during the quarter. Blue Trust Inc.’s holdings in Madison Square Garden Sports were worth $122,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. increased its holdings in Madison Square Garden Sports by 75.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 68,632 shares of the company’s stock valued at $14,293,000 after acquiring an additional 29,445 shares in the last quarter. State Street Corp increased its stake in shares of Madison Square Garden Sports by 1.2% during the 3rd quarter. State Street Corp now owns 549,108 shares of the company’s stock worth $114,357,000 after purchasing an additional 6,640 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Madison Square Garden Sports during the 3rd quarter worth approximately $861,000. Sanctuary Advisors LLC purchased a new stake in Madison Square Garden Sports in the 3rd quarter valued at approximately $264,000. Finally, Garner Asset Management Corp acquired a new stake in Madison Square Garden Sports during the 3rd quarter valued at $639,000. Institutional investors and hedge funds own 68.94% of the company’s stock.

Madison Square Garden Sports Price Performance

Madison Square Garden Sports stock opened at $210.25 on Friday. The firm’s 50-day moving average is $222.56 and its two-hundred day moving average is $214.91. The stock has a market capitalization of $5.04 billion, a P/E ratio of 72.25 and a beta of 0.91. Madison Square Garden Sports Corp. has a 12-month low of $178.35 and a 12-month high of $237.99.

Madison Square Garden Sports (NYSE:MSGS) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.25). The business had revenue of $357.80 million during the quarter, compared to analyst estimates of $352.68 million. Madison Square Garden Sports had a net margin of 6.75% and a negative return on equity of 23.81%. The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 earnings per share. As a group, analysts forecast that Madison Square Garden Sports Corp. will post 0.81 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.