Algert Global LLC Has $6.55 Million Stock Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

Algert Global LLC boosted its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 535.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 31,459 shares of the company’s stock after buying an additional 26,508 shares during the quarter. Algert Global LLC’s holdings in Madison Square Garden Sports were worth $6,552,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MSGS. SG Americas Securities LLC bought a new stake in Madison Square Garden Sports in the second quarter valued at approximately $1,427,000. OFI Invest Asset Management bought a new stake in Madison Square Garden Sports in the second quarter valued at approximately $831,000. Harbor Capital Advisors Inc. raised its stake in Madison Square Garden Sports by 75.1% in the third quarter. Harbor Capital Advisors Inc. now owns 68,632 shares of the company’s stock valued at $14,293,000 after buying an additional 29,445 shares during the period. Point72 DIFC Ltd bought a new position in shares of Madison Square Garden Sports during the second quarter worth approximately $543,000. Finally, Quest Partners LLC bought a new position in shares of Madison Square Garden Sports during the third quarter worth approximately $1,964,000. 68.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, CEO James Lawrence Dolan sold 629 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $209.30, for a total transaction of $131,649.70. Following the sale, the chief executive officer now owns 10,192 shares of the company’s stock, valued at $2,133,185.60. This represents a 5.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 22.10% of the stock is currently owned by company insiders.

Madison Square Garden Sports Trading Up 0.6 %

Shares of NYSE MSGS opened at $229.83 on Friday. The firm has a market cap of $5.50 billion, a P/E ratio of 78.98 and a beta of 0.92. Madison Square Garden Sports Corp. has a 1-year low of $166.26 and a 1-year high of $230.69. The business’s 50 day moving average is $217.19 and its 200-day moving average is $202.29.

Madison Square Garden Sports (NYSE:MSGS) last announced its earnings results on Friday, November 1st. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.55. The company 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 firm’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.79) earnings per share. Analysts forecast that Madison Square Garden Sports Corp. will post 0.81 EPS for the current year.

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 development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.