Incline Global Management LLC Lowers Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

Incline Global Management LLC reduced its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 21.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,244 shares of the company’s stock after selling 12,231 shares during the quarter. Madison Square Garden Sports accounts for approximately 4.1% of Incline Global Management LLC’s investment portfolio, making the stock its 18th biggest holding. Incline Global Management LLC owned approximately 0.18% of Madison Square Garden Sports worth $9,214,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MSGS. EverSource Wealth Advisors LLC boosted its stake in shares of Madison Square Garden Sports by 80.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock worth $42,000 after acquiring an additional 100 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Madison Square Garden Sports by 31.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 223 shares of the company’s stock worth $46,000 after acquiring an additional 53 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Madison Square Garden Sports by 179.8% during the 2nd quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock worth $49,000 after acquiring an additional 169 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Madison Square Garden Sports by 326.5% during the third quarter. Blue Trust Inc. now owns 418 shares of the company’s stock worth $87,000 after purchasing an additional 320 shares in the last quarter. Finally, Dnca Finance acquired a new stake in Madison Square Garden Sports in the 2nd quarter worth about $113,000. 68.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Macquarie raised their target price 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 Stock Down 0.4 %

Shares of NYSE MSGS traded down $0.87 during midday trading on Tuesday, hitting $229.08. The stock had a trading volume of 66,820 shares, compared to its average volume of 101,566. The company has a market capitalization of $5.49 billion, a PE ratio of 78.86 and a beta of 0.92. The stock has a 50 day simple moving average of $219.42 and a 200-day simple moving average of $203.86. Madison Square Garden Sports Corp. has a 1 year low of $168.32 and a 1 year high of $232.58.

Madison Square Garden Sports (NYSE:MSGS) last announced 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. Madison Square Garden Sports had a negative return on equity of 23.81% and a net margin of 6.75%. The firm had revenue of $53.31 million for the quarter, compared to the consensus estimate of $43.71 million. During the same quarter last year, the business posted ($0.79) earnings per share. The firm’s revenue was up 23.8% compared to the same quarter last year. As a group, analysts expect that Madison Square Garden Sports Corp. will post 0.81 earnings per share for the current fiscal year.

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.