Illinois Municipal Retirement Fund Cuts Stock Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

Illinois Municipal Retirement Fund cut its stake in Madison Square Garden Sports Corp. (NYSE:MSGS) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,686 shares of the company’s stock after selling 228 shares during the period. Illinois Municipal Retirement Fund’s holdings in Madison Square Garden Sports were worth $1,960,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp boosted its stake in shares of Madison Square Garden Sports by 1.2% in the 3rd quarter. State Street Corp now owns 549,108 shares of the company’s stock valued at $114,357,000 after buying an additional 6,640 shares during the period. Geode Capital Management LLC raised its holdings in Madison Square Garden Sports by 0.7% in the third quarter. Geode Capital Management LLC now owns 273,222 shares of the company’s stock valued at $56,916,000 after acquiring an additional 1,913 shares in the last quarter. Systematic Financial Management LP lifted its stake in Madison Square Garden Sports by 13.3% in the third quarter. Systematic Financial Management LP now owns 124,327 shares of the company’s stock worth $25,893,000 after acquiring an additional 14,591 shares during the last quarter. Empirical Asset Management LLC acquired a new position in Madison Square Garden Sports during the 4th quarter worth approximately $26,120,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Madison Square Garden Sports by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 111,855 shares of the company’s stock valued at $23,295,000 after purchasing an additional 3,784 shares during the last quarter. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

Madison Square Garden Sports Stock Performance

MSGS opened at $203.75 on Friday. Madison Square Garden Sports Corp. has a one year low of $178.35 and a one year high of $237.99. The company has a market cap of $4.89 billion, a P/E ratio of 85.97 and a beta of 0.91. The business’s 50-day simple moving average is $214.55 and its 200-day simple moving average is $216.02.

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

Analyst Ratings Changes

Separately, Macquarie lifted 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.

Madison Square Garden Sports Company 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.