Inspire Trust Co. N.A. Raises Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Inspire Trust Co. N.A. lifted its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 18.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,000 shares of the company’s stock after buying an additional 1,100 shares during the period. Inspire Trust Co. N.A.’s holdings in Madison Square Garden Sports were worth $1,458,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Point72 Asset Management L.P. lifted its position in shares of 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 worth $46,350,000 after buying an additional 227,874 shares in the last quarter. Bank of Montreal Can lifted its holdings in Madison Square Garden Sports by 139.2% during the second quarter. Bank of Montreal Can now owns 89,166 shares of the company’s stock worth $16,900,000 after acquiring an additional 51,897 shares during the period. Ariel Investments LLC boosted its position in Madison Square Garden Sports by 3.5% in the second quarter. Ariel Investments LLC now owns 970,156 shares of the company’s stock worth $182,515,000 after purchasing an additional 33,031 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in Madison Square Garden Sports by 75.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 68,632 shares of the company’s stock valued at $14,293,000 after purchasing an additional 29,445 shares during the period. Finally, Tabor Asset Management LP bought a new stake in shares of Madison Square Garden Sports during the 3rd quarter worth $5,558,000. Institutional investors own 68.94% of the company’s stock.

Analyst Ratings Changes

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

Madison Square Garden Sports Stock Up 0.7 %

Madison Square Garden Sports stock opened at $234.67 on Friday. The company has a market capitalization of $5.62 billion, a P/E ratio of 80.64 and a beta of 0.91. The firm has a 50 day moving average price of $223.31 and a 200-day moving average price of $206.37. Madison Square Garden Sports Corp. has a twelve month low of $169.98 and a twelve month high of $235.01.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings data on Friday, November 1st. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.86) by $0.55. The business had revenue of $53.31 million during 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%. Madison Square Garden Sports’s revenue was up 23.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.79) earnings per share. Equities analysts expect that Madison Square Garden Sports Corp. will post 0.81 EPS for the current fiscal year.

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.