Point72 Asset Management L.P. Has $50.27 Million Stock Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Point72 Asset Management L.P. cut its stake in Madison Square Garden Sports Corp. (NYSE:MSGS) by 2.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 241,393 shares of the company’s stock after selling 4,981 shares during the quarter. Point72 Asset Management L.P.’s holdings in Madison Square Garden Sports were worth $50,273,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MSGS. EverSource Wealth Advisors LLC raised its holdings in shares of Madison Square Garden Sports by 80.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock worth $42,000 after buying an additional 100 shares in the last quarter. Venturi Wealth Management LLC grew its position in Madison Square Garden Sports by 31.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 223 shares of the company’s stock worth $46,000 after acquiring an additional 53 shares during the last quarter. GAMMA Investing LLC grew its position in Madison Square Garden Sports by 179.8% during the 2nd quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock worth $49,000 after acquiring an additional 169 shares during the last quarter. Blue Trust Inc. grew its position in Madison Square Garden Sports by 326.5% during the 3rd quarter. Blue Trust Inc. now owns 418 shares of the company’s stock worth $87,000 after acquiring an additional 320 shares during the last quarter. Finally, Dnca Finance bought a new stake in Madison Square Garden Sports during the 2nd quarter worth approximately $113,000. 68.94% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden Sports Stock Performance

Shares of MSGS opened at $231.76 on Thursday. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 79.64 and a beta of 0.91. The business’s fifty day moving average price is $220.86 and its two-hundred day moving average price is $204.61. Madison Square Garden Sports Corp. has a 52 week low of $168.32 and a 52 week high of $232.58.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings data on Friday, November 1st. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.55. The firm had revenue of $53.31 million for the quarter, compared to analyst estimates of $43.71 million. Madison Square Garden Sports had a negative return on equity of 23.81% and a net margin of 6.75%. The business’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same period last year, the company earned ($0.79) EPS. As a group, research analysts forecast that Madison Square Garden Sports Corp. will post 0.81 EPS for the current year.

Analyst Ratings Changes

Separately, Macquarie increased their price target on Madison Square Garden Sports from $235.00 to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th.

About Madison Square Garden Sports

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.