Swiss National Bank Grows Stake in Madison Square Garden Sports Corp. (NYSE:MSGS)

Swiss National Bank increased its stake in Madison Square Garden Sports Corp. (NYSE:MSGS) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,633 shares of the company’s stock after buying an additional 300 shares during the quarter. Swiss National Bank’s holdings in Madison Square Garden Sports were worth $6,913,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Allworth Financial LP lifted its holdings in Madison Square Garden Sports by 81.4% in the 4th quarter. Allworth Financial LP now owns 127 shares of the company’s stock worth $28,000 after buying an additional 57 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Madison Square Garden Sports by 119.0% during the fourth quarter. Fifth Third Bancorp now owns 138 shares of the company’s stock worth $31,000 after acquiring an additional 75 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Madison Square Garden Sports in the fourth quarter worth about $43,000. Versant Capital Management Inc boosted its holdings in Madison Square Garden Sports by 35.3% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the company’s stock valued at $53,000 after purchasing an additional 61 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Madison Square Garden Sports by 423.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 272 shares of the company’s stock valued at $62,000 after purchasing an additional 220 shares in the last quarter. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

Madison Square Garden Sports Price Performance

Shares of MSGS stock opened at $198.18 on Friday. The firm has a fifty day moving average of $206.52 and a two-hundred day moving average of $214.85. The firm has a market cap of $4.76 billion, a P/E ratio of 83.62 and a beta of 0.91. Madison Square Garden Sports Corp. has a 1-year low of $178.35 and a 1-year high of $237.99.

Madison Square Garden Sports (NYSE:MSGS) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.25). Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The firm had revenue of $357.80 million during the quarter, compared to analyst estimates of $352.68 million. During the same quarter last year, the business posted $0.59 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, sell-side analysts expect that Madison Square Garden Sports Corp. will post 0.73 EPS for the current year.

Insider Activity

In other news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $189.92, for a total value of $6,044,204.00. Following the transaction, the insider now directly owns 5,097 shares in the company, valued at approximately $968,022.24. This trade represents a 86.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 22.10% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Macquarie upped their target price on Madison Square Garden Sports from $240.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th.

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.