Oak Thistle LLC Reduces Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Oak Thistle LLC trimmed its position in Madison Square Garden Sports Corp. (NYSE:MSGS) by 59.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,681 shares of the company’s stock after selling 3,863 shares during the quarter. Oak Thistle LLC’s holdings in Madison Square Garden Sports were worth $605,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MSGS. Venturi Wealth Management LLC lifted its holdings in Madison Square Garden Sports by 31.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 223 shares of the company’s stock worth $46,000 after buying an additional 53 shares during the period. Versant Capital Management Inc lifted its stake in Madison Square Garden Sports by 35.3% in the fourth 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 period. Blue Trust Inc. boosted its holdings in 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 acquiring an additional 320 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Madison Square Garden Sports during the 3rd quarter valued at $119,000. Finally, Quent Capital LLC raised its holdings in Madison Square Garden Sports by 271.3% in the 3rd quarter. Quent Capital LLC now owns 609 shares of the company’s stock worth $127,000 after purchasing an additional 445 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors.

Madison Square Garden Sports Stock Performance

MSGS stock opened at $215.01 on Friday. Madison Square Garden Sports Corp. has a fifty-two week low of $178.35 and a fifty-two week high of $237.99. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of 73.89 and a beta of 0.91. The business’s 50 day moving average price is $224.96 and its two-hundred day moving average price is $212.60.

Madison Square Garden Sports (NYSE:MSGS) last issued its quarterly earnings results on Friday, November 1st. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.55. The company had revenue of $53.31 million for the quarter, compared to analysts’ expectations 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 firm’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.79) earnings per share. Sell-side analysts forecast that Madison Square Garden Sports Corp. will post 0.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Macquarie lifted their target price on shares of Madison Square Garden Sports from $235.00 to $240.00 and gave the company an “outperform” rating in a research note 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.