Xponance Inc. Grows Stake in Madison Square Garden Sports Corp. (NYSE:MSGS)

Xponance Inc. raised its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 8.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,105 shares of the company’s stock after purchasing an additional 86 shares during the period. Xponance Inc.’s holdings in Madison Square Garden Sports were worth $249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Allworth Financial LP raised its holdings in Madison Square Garden Sports by 81.4% during the 4th quarter. Allworth Financial LP now owns 127 shares of the company’s stock valued at $28,000 after buying an additional 57 shares during the period. Fifth Third Bancorp increased its position in Madison Square Garden Sports by 119.0% during the fourth quarter. Fifth Third Bancorp now owns 138 shares of the company’s stock valued at $31,000 after acquiring an additional 75 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Madison Square Garden Sports in the fourth quarter valued at $43,000. Versant Capital Management Inc lifted its holdings in shares of Madison Square Garden Sports by 35.3% in the 4th 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 last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Madison Square Garden Sports by 423.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 272 shares of the company’s stock worth $62,000 after purchasing an additional 220 shares during the period. 68.94% of the stock is owned by institutional investors.

Insider Transactions at Madison Square Garden Sports

In other Madison Square Garden Sports news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $189.92, for a total value of $6,044,204.00. Following the completion of the sale, the insider now directly owns 5,097 shares in the company, valued at approximately $968,022.24. This represents a 86.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 22.10% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Macquarie increased their price objective on shares of Madison Square Garden Sports from $240.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 25th.

Madison Square Garden Sports Stock Performance

Shares of MSGS stock opened at $195.18 on Friday. The stock has a 50 day moving average price of $204.81 and a 200 day moving average price of $214.57. The firm has a market capitalization of $4.69 billion, a P/E ratio of 82.35 and a beta of 0.91. Madison Square Garden Sports Corp. has a 52-week low of $178.35 and a 52-week high of $237.99.

Madison Square Garden Sports (NYSE:MSGS) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.25). Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The company had revenue of $357.80 million during the quarter, compared to the consensus estimate of $352.68 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, sell-side analysts forecast that Madison Square Garden Sports Corp. will post 0.73 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.