Louisiana State Employees Retirement System Invests $1.51 Million in Madison Square Garden Sports Corp. (NYSE:MSGS)

Louisiana State Employees Retirement System purchased a new position in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,300 shares of the company's stock, valued at approximately $1,509,000.

Several other hedge funds have also recently added to or reduced their stakes in MSGS. JPMorgan Chase & Co. grew its position in Madison Square Garden Sports by 39.1% during the 1st quarter. JPMorgan Chase & Co. now owns 47,202 shares of the company's stock worth $8,467,000 after purchasing an additional 13,267 shares in the last quarter. Raymond James & Associates grew its position in Madison Square Garden Sports by 160.6% during the 1st quarter. Raymond James & Associates now owns 3,174 shares of the company's stock worth $569,000 after purchasing an additional 1,956 shares in the last quarter. US Bancorp DE grew its position in Madison Square Garden Sports by 76.4% during the 1st quarter. US Bancorp DE now owns 614 shares of the company's stock worth $111,000 after purchasing an additional 266 shares in the last quarter. Citigroup Inc. grew its position in Madison Square Garden Sports by 98.6% during the 1st quarter. Citigroup Inc. now owns 2,951 shares of the company's stock worth $529,000 after purchasing an additional 1,465 shares in the last quarter. Finally, Bank of Montreal Can grew its position in Madison Square Garden Sports by 16.1% during the 1st quarter. Bank of Montreal Can now owns 32,415 shares of the company's stock worth $5,822,000 after purchasing an additional 4,499 shares in the last quarter. Institutional investors and hedge funds own 68.94% of the company's stock.

Madison Square Garden Sports Price Performance

NYSE MSGS traded up $0.72 on Friday, hitting $179.89. 85,132 shares of the stock were exchanged, compared to its average volume of 102,386. Madison Square Garden Sports Corp. has a 52-week low of $164.79 and a 52-week high of $215.79. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 113.14 and a beta of 0.94. The company's 50-day moving average price is $185.30 and its two-hundred day moving average price is $179.91.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.22. Madison Square Garden Sports had a net margin of 4.38% and a negative return on equity of 11.27%. The firm had revenue of $326.90 million for the quarter, compared to analysts' expectations of $325.86 million. During the same period in the previous year, the company posted $0.84 EPS. The company's quarterly revenue was down 7.6% compared to the same quarter last year. Equities analysts predict that Madison Square Garden Sports Corp. will post 2.11 EPS for the current fiscal year.

Insider Activity

In other news, Chairman James Lawrence Dolan sold 18,000 shares of the business's stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $185.88, for a total transaction of $3,345,840.00. Following the transaction, the chairman now directly owns 164,583 shares in the company, valued at approximately $30,592,688.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, COO David G. Hopkinson sold 937 shares of the business's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $192.21, for a total transaction of $180,100.77. Following the transaction, the chief operating officer now directly owns 2,385 shares in the company, valued at approximately $458,420.85. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman James Lawrence Dolan sold 18,000 shares of Madison Square Garden Sports stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $185.88, for a total transaction of $3,345,840.00. Following the completion of the sale, the chairman now directly owns 164,583 shares of the company's stock, valued at approximately $30,592,688.04. The disclosure for this sale can be found here. Insiders have sold a total of 46,176 shares of company stock worth $8,661,793 in the last ninety days. Corporate insiders own 22.28% of the company's stock.

Madison Square Garden Sports 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 two development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.