AlphaQuest LLC Has $660,000 Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

AlphaQuest LLC cut its stake in Madison Square Garden Sports Corp. (NYSE:MSGS) by 69.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,926 shares of the company’s stock after selling 6,503 shares during the period. AlphaQuest LLC’s holdings in Madison Square Garden Sports were worth $660,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Venturi Wealth Management LLC raised its holdings in shares of 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 in the last quarter. Allworth Financial LP increased 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 purchasing an additional 57 shares in the last quarter. Versant Capital Management Inc increased its holdings in Madison Square Garden Sports by 35.3% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the company’s stock valued at $53,000 after purchasing an additional 61 shares in the last quarter. Fifth Third Bancorp increased its holdings in Madison Square Garden Sports by 119.0% during the 4th quarter. Fifth Third Bancorp now owns 138 shares of the company’s stock valued at $31,000 after purchasing an additional 75 shares in the last quarter. Finally, Insight Inv LLC increased its holdings in Madison Square Garden Sports by 1.5% during the 3rd quarter. Insight Inv LLC now owns 6,665 shares of the company’s stock valued at $1,388,000 after purchasing an additional 100 shares in the last quarter. 68.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Macquarie raised their price target on Madison Square Garden Sports from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th.

Madison Square Garden Sports Price Performance

MSGS stock opened at $187.50 on Wednesday. The business has a fifty day moving average price of $210.82 and a 200 day moving average price of $215.82. Madison Square Garden Sports Corp. has a fifty-two week low of $178.35 and a fifty-two week high of $237.99. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 79.11 and a beta of 0.91.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.25). The firm had revenue of $357.80 million during the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.59 earnings per share. On average, equities analysts expect that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current fiscal 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.