Home Hedge Funds State of New Jersey Common Pension Fund D Has $2.60 Million Holdings...

State of New Jersey Common Pension Fund D Has $2.60 Million Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

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State of New Jersey Common Pension Fund D lessened its holdings in shares of Madison Square Garden Sports Corp. (NYSE:MSGSGet Rating) by 7.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,479 shares of the company’s stock after selling 1,237 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of Madison Square Garden Sports worth $2,597,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. First Bank & Trust raised its stake in Madison Square Garden Sports by 9.2% during the 1st quarter. First Bank & Trust now owns 940 shares of the company’s stock worth $168,000 after buying an additional 79 shares during the period. Rockefeller Capital Management L.P. raised its stake in shares of Madison Square Garden Sports by 1.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,133 shares of the company’s stock valued at $1,239,000 after purchasing an additional 80 shares during the period. First Republic Investment Management Inc. raised its stake in shares of Madison Square Garden Sports by 4.7% in the 4th quarter. First Republic Investment Management Inc. now owns 2,654 shares of the company’s stock valued at $461,000 after purchasing an additional 120 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Madison Square Garden Sports in the 4th quarter valued at about $48,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Madison Square Garden Sports in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 67.12% of the company’s stock.

Madison Square Garden Sports Stock Performance

NYSE:MSGS opened at $153.78 on Monday. The stock’s 50-day simple moving average is $155.72 and its 200 day simple moving average is $164.27. The company has a market cap of $3.73 billion, a P/E ratio of 51.26 and a beta of 0.92. Madison Square Garden Sports Corp. has a 52-week low of $145.41 and a 52-week high of $203.37.

Madison Square Garden Sports (NYSE:MSGSGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.34). Madison Square Garden Sports had a negative return on equity of 35.82% and a net margin of 9.28%. The business had revenue of $337.80 million for the quarter, compared to the consensus estimate of $332.95 million. During the same quarter in the previous year, the business posted $0.22 EPS. The company’s revenue for the quarter was up 84.6% on a year-over-year basis. As a group, equities analysts predict that Madison Square Garden Sports Corp. will post 0.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on MSGS shares. Macquarie dropped their price target on Madison Square Garden Sports from $240.00 to $230.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 5th. Wolfe Research dropped their price target on Madison Square Garden Sports from $238.00 to $231.00 and set an “outperform” rating on the stock in a research note on Thursday, June 2nd. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $220.25.

Madison Square Garden Sports 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).

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



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