Madison Square Garden Sports Corp. (NYSE:MSGS) Shares Bought by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. boosted its holdings in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 75.1% in the third quarter, HoldingsChannel.com reports. The fund owned 68,632 shares of the company’s stock after buying an additional 29,445 shares during the quarter. Madison Square Garden Sports comprises about 0.6% of Harbor Capital Advisors Inc.’s investment portfolio, making the stock its 22nd biggest holding. Harbor Capital Advisors Inc.’s holdings in Madison Square Garden Sports were worth $14,293,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in shares of Madison Square Garden Sports by 80.6% in the first quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock valued at $42,000 after buying an additional 100 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Madison Square Garden Sports by 179.8% in the second quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock valued at $49,000 after buying an additional 169 shares during the last quarter. Blue Trust Inc. raised its position in shares of Madison Square Garden Sports by 326.5% in the third quarter. Blue Trust Inc. now owns 418 shares of the company’s stock valued at $87,000 after buying an additional 320 shares during the last quarter. Quent Capital LLC raised its position in shares of Madison Square Garden Sports by 312.4% in the first quarter. Quent Capital LLC now owns 565 shares of the company’s stock valued at $104,000 after buying an additional 428 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Madison Square Garden Sports in the third quarter valued at approximately $119,000. Institutional investors and hedge funds own 68.94% of the company’s stock.

Madison Square Garden Sports Price Performance

NYSE:MSGS opened at $220.99 on Friday. Madison Square Garden Sports Corp. has a 1-year low of $166.26 and a 1-year high of $227.66. The firm has a 50 day simple moving average of $211.81 and a 200-day simple moving average of $198.20. The firm has a market cap of $5.29 billion, a PE ratio of 75.94 and a beta of 0.92.

Madison Square Garden Sports (NYSE:MSGS) last released its earnings results on Friday, November 1st. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.55. Madison Square Garden Sports had a net margin of 5.72% and a negative return on equity of 18.69%. The firm had revenue of $53.31 million during the quarter, compared to the consensus estimate of $43.71 million. During the same period in the previous year, the firm earned ($0.79) earnings per share. Madison Square Garden Sports’s revenue was up 23.8% compared to the same quarter last year. As a group, sell-side analysts expect that Madison Square Garden Sports Corp. will post 1.42 earnings per share for the current fiscal year.

Insider Activity at Madison Square Garden Sports

In related news, CEO James Lawrence Dolan sold 629 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $209.30, for a total value of $131,649.70. Following the completion of the sale, the chief executive officer now directly owns 10,192 shares in the company, valued at approximately $2,133,185.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Macquarie cut their price objective on shares of Madison Square Garden Sports from $240.00 to $235.00 and set an “outperform” rating for the company in a research report on Friday, August 16th.

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.