Quest Partners LLC Makes New Investment in Madison Square Garden Sports Corp. (NYSE:MSGS)

Quest Partners LLC acquired a new position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,429 shares of the company’s stock, valued at approximately $1,964,000.

A number of other institutional investors have also recently bought and sold shares of MSGS. SG Americas Securities LLC bought a new position in Madison Square Garden Sports in the second quarter valued at approximately $1,427,000. OFI Invest Asset Management bought a new stake in Madison Square Garden Sports in the 2nd quarter valued at $831,000. 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 worth $14,293,000 after purchasing an additional 29,445 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Madison Square Garden Sports in the 2nd quarter valued at about $543,000. Finally, XTX Topco Ltd bought a new stake in shares of Madison Square Garden Sports in the second quarter valued at about $884,000. Institutional investors and hedge funds own 68.94% of the company’s stock.

Insider Activity at Madison Square Garden Sports

In other news, CEO James Lawrence Dolan sold 629 shares of Madison Square Garden Sports stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $209.30, for a total value of $131,649.70. Following the completion of the transaction, the chief executive officer now owns 10,192 shares of the company’s stock, valued at $2,133,185.60. This trade represents a 5.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 22.10% of the company’s stock.

Madison Square Garden Sports Trading Up 0.1 %

Shares of MSGS opened at $219.01 on Tuesday. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 75.26 and a beta of 0.92. Madison Square Garden Sports Corp. has a 12 month low of $166.26 and a 12 month high of $230.69. The firm has a fifty day simple moving average of $215.34 and a 200 day simple moving average of $201.29.

Madison Square Garden Sports (NYSE:MSGS) last posted its quarterly earnings data on Friday, November 1st. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.55. The company had revenue of $53.31 million during the quarter, compared to the consensus estimate 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 company’s quarterly revenue was up 23.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.79) EPS. As a group, research analysts predict that Madison Square Garden Sports Corp. will post 0.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Macquarie increased their price objective on Madison Square Garden Sports from $235.00 to $240.00 and gave the stock an “outperform” rating in a 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.