Harbor Capital Advisors Inc. cut its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 17.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 53,395 shares of the company's stock after selling 11,243 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.22% of Madison Square Garden Sports worth $10,397,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in MSGS. Vanguard Group Inc. increased its holdings in shares of Madison Square Garden Sports by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 1,945,194 shares of the company's stock worth $438,991,000 after purchasing an additional 33,641 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Madison Square Garden Sports by 1,854.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 498,607 shares of the company's stock valued at $112,526,000 after purchasing an additional 473,090 shares during the period. The Manufacturers Life Insurance Company increased its position in Madison Square Garden Sports by 16.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 255,339 shares of the company's stock valued at $57,625,000 after buying an additional 36,799 shares in the last quarter. Norges Bank bought a new position in Madison Square Garden Sports in the 4th quarter valued at about $54,052,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Madison Square Garden Sports by 4.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 222,090 shares of the company's stock valued at $50,124,000 after purchasing an additional 9,979 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. Susquehanna assumed coverage on shares of Madison Square Garden Sports in a research note on Monday, April 28th. They issued a "positive" rating and a $254.00 price objective for the company. Macquarie lifted their target price on Madison Square Garden Sports from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. dropped their price target on shares of Madison Square Garden Sports from $240.00 to $230.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Morgan Stanley dropped their price target on Madison Square Garden Sports from $235.00 to $215.00 and set an "equal weight" rating for the company in a research report on Monday, May 5th. Finally, Guggenheim restated a "buy" rating and issued a $314.00 price objective on shares of Madison Square Garden Sports in a report on Tuesday, May 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $252.60.
Get Our Latest Stock Report on Madison Square Garden Sports
Madison Square Garden Sports Stock Performance
MSGS stock traded down $2.11 during trading on Friday, hitting $187.38. The stock had a trading volume of 168,782 shares, compared to its average volume of 114,670. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 79.06 and a beta of 0.77. Madison Square Garden Sports Corp. has a 1-year low of $173.26 and a 1-year high of $237.99. The company's 50 day moving average price is $190.65 and its two-hundred day moving average price is $204.64.
Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last released its earnings results on Friday, May 2nd. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of $1.48 by ($2.07). Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. The business had revenue of $424.20 million for the quarter, compared to the consensus estimate of $436.84 million. During the same quarter in the previous year, the firm earned $1.57 EPS. The firm's revenue for the quarter was down 1.3% on a year-over-year basis. As a group, sell-side analysts forecast that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current fiscal year.
Madison Square Garden Sports Company Profile
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Free Report)
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.
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