Tabor Asset Management LP Purchases New Shares in Madison Square Garden Sports Corp. (NYSE:MSGS)

Tabor Asset Management LP purchased a new stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) in the third quarter, Holdings Channel.com reports. The fund purchased 26,689 shares of the company’s stock, valued at approximately $5,558,000. Madison Square Garden Sports accounts for approximately 2.7% of Tabor Asset Management LP’s portfolio, making the stock its 16th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Ariel Investments LLC increased its holdings in Madison Square Garden Sports by 3.5% during the 2nd quarter. Ariel Investments LLC now owns 970,156 shares of the company’s stock valued at $182,515,000 after purchasing an additional 33,031 shares in the last quarter. State Street Corp increased its holdings in Madison Square Garden Sports by 1.2% during the 3rd quarter. State Street Corp now owns 549,108 shares of the company’s stock valued at $114,357,000 after purchasing an additional 6,640 shares in the last quarter. Gabelli Funds LLC increased its holdings in Madison Square Garden Sports by 0.4% during the 2nd quarter. Gabelli Funds LLC now owns 415,288 shares of the company’s stock valued at $78,128,000 after purchasing an additional 1,488 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Madison Square Garden Sports by 1,231.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 246,374 shares of the company’s stock valued at $46,350,000 after purchasing an additional 227,874 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Madison Square Garden Sports by 0.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 229,609 shares of the company’s stock valued at $43,196,000 after purchasing an additional 1,534 shares in the last quarter. 68.94% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden Sports Stock Performance

NYSE MSGS opened at $229.27 on Friday. The stock has a fifty day moving average of $221.28 and a 200-day moving average of $204.78. The stock has a market capitalization of $5.49 billion, a P/E ratio of 78.79 and a beta of 0.91. 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 released its earnings results on Friday, November 1st. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.86) by $0.55. The company had revenue of $53.31 million during 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 business’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same period last year, the firm earned ($0.79) EPS. Equities research analysts forecast that Madison Square Garden Sports Corp. will post 0.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Macquarie lifted their target price on 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.

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.