Miracle Mile Advisors LLC Purchases Shares of 18,402 Madison Square Garden Sports Corp. (NYSE:MSGS)

Miracle Mile Advisors LLC purchased a new stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 18,402 shares of the company’s stock, valued at approximately $4,153,000. Miracle Mile Advisors LLC owned about 0.08% of Madison Square Garden Sports at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in MSGS. Dimensional Fund Advisors LP increased its position in shares of Madison Square Garden Sports by 10.2% during the second quarter. Dimensional Fund Advisors LP now owns 211,100 shares of the company’s stock valued at $39,716,000 after acquiring an additional 19,585 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Madison Square Garden Sports by 19.2% in the second quarter. Renaissance Technologies LLC now owns 48,500 shares of the company’s stock valued at $9,124,000 after purchasing an additional 7,800 shares in the last quarter. Seven Eight Capital LP acquired a new position in shares of Madison Square Garden Sports in the second quarter valued at approximately $477,000. XTX Topco Ltd acquired a new position in shares of Madison Square Garden Sports in the second quarter valued at approximately $884,000. Finally, Gabelli Funds LLC grew its holdings in shares of Madison Square Garden Sports by 0.4% in the second quarter. Gabelli Funds LLC now owns 415,288 shares of the company’s stock valued at $78,128,000 after purchasing an additional 1,488 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Sports Stock Performance

Shares of MSGS stock opened at $213.73 on Tuesday. Madison Square Garden Sports Corp. has a fifty-two week low of $176.27 and a fifty-two week high of $237.99. The stock has a market capitalization of $5.12 billion, a P/E ratio of 73.45 and a beta of 0.91. The company has a 50 day moving average price of $225.26 and a 200 day moving average price of $212.40.

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

Wall Street Analyst Weigh In

Separately, Macquarie lifted their price objective on shares of 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 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.