National Bank of Canada FI Acquires 15,486 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

National Bank of Canada FI raised its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 155.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,427 shares of the company’s stock after buying an additional 15,486 shares during the period. National Bank of Canada FI’s holdings in Madison Square Garden Sports were worth $5,738,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MSGS. State Street Corp raised 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 acquiring an additional 6,640 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of Madison Square Garden Sports in the fourth quarter valued at approximately $1,032,000. Proficio Capital Partners LLC acquired a new stake in shares of Madison Square Garden Sports in the fourth quarter worth $3,413,000. Levin Capital Strategies L.P. boosted its holdings in shares of Madison Square Garden Sports by 118.5% during the 4th quarter. Levin Capital Strategies L.P. now owns 3,039 shares of the company’s stock worth $686,000 after buying an additional 1,648 shares during the period. Finally, Wealthfront Advisers LLC acquired a new position in Madison Square Garden Sports in the 4th quarter valued at $16,844,000. Institutional investors and hedge funds own 68.94% of the company’s stock.

Madison Square Garden Sports Stock Down 6.7 %

Shares of NYSE MSGS opened at $180.37 on Monday. Madison Square Garden Sports Corp. has a 12 month low of $178.35 and a 12 month high of $237.99. The company has a market cap of $4.33 billion, a P/E ratio of 76.11 and a beta of 0.81. The business’s 50 day moving average is $202.25 and its two-hundred day moving average is $214.30.

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

Insider Buying and Selling

In other Madison Square Garden Sports news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of Madison Square Garden Sports stock in a transaction on Monday, March 10th. The shares were sold at an average price of $189.92, for a total transaction of $6,044,204.00. Following the sale, the insider now owns 5,097 shares in the company, valued at $968,022.24. The trade was a 86.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 22.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

About Madison Square Garden Sports

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.