Shapiro Capital Management LLC Cuts Stake in Madison Square Garden Sports Corp. (NYSE:MSGS)

Shapiro Capital Management LLC reduced its stake in Madison Square Garden Sports Corp. (NYSE:MSGSGet Rating) by 9.5% during the fourth quarter, HoldingsChannel reports. The fund owned 582,167 shares of the company’s stock after selling 61,400 shares during the period. Madison Square Garden Sports comprises approximately 1.8% of Shapiro Capital Management LLC’s holdings, making the stock its 26th largest position. Shapiro Capital Management LLC’s holdings in Madison Square Garden Sports were worth $101,140,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clearline Capital LP boosted its position in shares of Madison Square Garden Sports by 23.0% during the third quarter. Clearline Capital LP now owns 104,124 shares of the company’s stock valued at $19,362,000 after buying an additional 19,485 shares during the last quarter. Webster Bank N. A. boosted its position in shares of Madison Square Garden Sports by 600.0% during the fourth quarter. Webster Bank N. A. now owns 700 shares of the company’s stock valued at $122,000 after buying an additional 600 shares during the last quarter. Boyar Asset Management Inc. boosted its position in shares of Madison Square Garden Sports by 7.3% during the fourth quarter. Boyar Asset Management Inc. now owns 23,078 shares of the company’s stock valued at $4,009,000 after buying an additional 1,578 shares during the last quarter. EagleClaw Capital Managment LLC boosted its position in shares of Madison Square Garden Sports by 1.6% during the third quarter. EagleClaw Capital Managment LLC now owns 13,675 shares of the company’s stock valued at $2,541,000 after buying an additional 220 shares during the last quarter. Finally, Trust Co. of Vermont purchased a new stake in shares of Madison Square Garden Sports during the fourth quarter valued at $30,000. 67.12% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:MSGS traded up $4.13 on Tuesday, hitting $157.31. The stock had a trading volume of 1,165 shares, compared to its average volume of 117,411. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 51.55 and a beta of 0.92. The business’s 50-day simple moving average is $169.20 and its two-hundred day simple moving average is $172.26. Madison Square Garden Sports Corp. has a 52-week low of $151.28 and a 52-week high of $203.37.

Madison Square Garden Sports (NYSE:MSGSGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.34). Madison Square Garden Sports had a negative return on equity of 34.29% and a net margin of 9.28%. The company had revenue of $337.80 million during the quarter, compared to the consensus estimate of $332.95 million. During the same period last year, the business earned $0.22 EPS. The firm’s quarterly revenue was up 84.6% compared to the same quarter last year.

Several research firms recently commented on MSGS. Zacks Investment Research cut Madison Square Garden Sports from a “hold” rating to a “sell” rating in a research report on Tuesday, May 10th. TheStreet raised Madison Square Garden Sports from a “d” rating to a “c-” rating in a research report on Thursday, February 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $211.50.

Madison Square Garden Sports Company Profile (Get Rating)

Madison Square Garden Sports Corp. operates as a professional sports company. The company owns and operates a portfolio of assets consists of the New York Knickerbockers of the National Basketball Association NBA and the New York Rangers of the National Hockey League NHL. Its other professional franchises include two development league teams, the Hartford Wolf Pack of the American Hockey League (AHL) and the Westchester Knicks of the NBA G League (NBAGL).

See Also

Want to see what other hedge funds are holding MSGS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Madison Square Garden Sports Corp. (NYSE:MSGSGet Rating).

Institutional Ownership by Quarter for Madison Square Garden Sports (NYSE:MSGS)

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