Herbst Group LLC Has $3.52 Million Stock Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Herbst Group LLC raised its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS) by 16.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 15,617 shares of the company’s stock after purchasing an additional 2,212 shares during the period. Madison Square Garden Sports makes up about 2.2% of Herbst Group LLC’s holdings, making the stock its 18th biggest holding. Herbst Group LLC’s holdings in Madison Square Garden Sports were worth $3,524,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Venturi Wealth Management LLC boosted its holdings in shares of Madison Square Garden Sports by 31.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 223 shares of the company’s stock valued at $46,000 after acquiring an additional 53 shares in the last quarter. Creative Planning increased its stake in shares of Madison Square Garden Sports by 2.5% in the third quarter. Creative Planning now owns 2,542 shares of the company’s stock valued at $529,000 after buying an additional 61 shares during the period. Versant Capital Management Inc boosted its position 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 worth $53,000 after buying an additional 61 shares during the period. Insight Inv LLC grew 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 worth $1,388,000 after acquiring an additional 100 shares during the last quarter. Finally, Central Pacific Bank Trust Division increased its position in Madison Square Garden Sports by 2.0% in the 4th quarter. Central Pacific Bank Trust Division now owns 5,100 shares of the company’s stock valued at $1,151,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 68.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Madison Square Garden Sports Stock Up 0.9 %

Shares of NYSE MSGS opened at $217.05 on Friday. The company has a market capitalization of $5.20 billion, a PE ratio of 74.59 and a beta of 0.91. The firm has a fifty day simple moving average of $224.49 and a 200 day simple moving average of $212.79. Madison Square Garden Sports Corp. has a twelve month low of $178.35 and a twelve month high of $237.99.

Madison Square Garden Sports (NYSE:MSGS) last announced its earnings results on Friday, November 1st. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.86) by $0.55. Madison Square Garden Sports had a negative return on equity of 23.81% and a net margin of 6.75%. The company had revenue of $53.31 million for the quarter, compared to analyst estimates of $43.71 million. During the same quarter in the prior year, the company earned ($0.79) EPS. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. As a group, equities analysts expect that Madison Square Garden Sports Corp. will post 0.81 earnings per share for the current fiscal year.

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.