Hsbc Holdings PLC acquired a new stake in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 11,260 shares of the company's stock, valued at approximately $2,554,000.
Other large investors have also added to or reduced their stakes in the company. Allworth Financial LP boosted its position in shares of Madison Square Garden Sports by 81.4% during the 4th quarter. Allworth Financial LP now owns 127 shares of the company's stock worth $28,000 after purchasing an additional 57 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Madison Square Garden Sports by 119.0% in the 4th quarter. Fifth Third Bancorp now owns 138 shares of the company's stock worth $31,000 after buying an additional 75 shares during the last quarter. Heck Capital Advisors LLC bought a new position in shares of Madison Square Garden Sports during the 4th quarter valued at approximately $43,000. Versant Capital Management Inc increased its holdings in Madison Square Garden Sports by 35.3% in the 4th quarter. Versant Capital Management Inc now owns 234 shares of the company's stock worth $53,000 after acquiring an additional 61 shares during the last quarter. Finally, Headlands Technologies LLC boosted its holdings in Madison Square Garden Sports by 1,016.7% in the 4th quarter. Headlands Technologies LLC now owns 268 shares of the company's stock worth $60,000 after buying an additional 244 shares during the period. Institutional investors and hedge funds own 68.94% of the company's stock.
Insider Buying and Selling
In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of Madison Square Garden Sports stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $189.92, for a total value of $6,044,204.00. Following the sale, the insider now directly owns 5,097 shares in the company, valued at approximately $968,022.24. The trade was a 86.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 22.10% of the company's stock.
Madison Square Garden Sports Price Performance
Shares of Madison Square Garden Sports stock traded down $5.06 during trading on Friday, reaching $187.79. 219,233 shares of the stock traded hands, compared to its average volume of 113,003. Madison Square Garden Sports Corp. has a 52-week low of $173.26 and a 52-week high of $237.99. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of 79.24 and a beta of 0.81. The business has a fifty day simple moving average of $192.36 and a two-hundred day simple moving average of $210.66.
Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.48 by ($2.07). 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 $424.20 million for the quarter, compared to the consensus estimate of $436.84 million. During the same period in the previous year, the company posted $1.57 EPS. Madison Square Garden Sports's quarterly revenue was down 1.3% compared to the same quarter last year. On average, research analysts predict that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts have weighed in on MSGS shares. Macquarie raised their price target on Madison Square Garden Sports from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Tuesday, February 25th. Susquehanna initiated coverage on Madison Square Garden Sports in a research note on Monday, April 28th. They issued a "positive" rating and a $254.00 price target for the company.
Get Our Latest Research Report on MSGS
About Madison Square Garden Sports
(
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.
Further Reading
Before you consider Madison Square Garden Sports, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Madison Square Garden Sports wasn't on the list.
While Madison Square Garden Sports currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
