Louisiana State Employees Retirement System increases stake in Madison Square Garden Sports Corp. (NYSE:MSGS)

Louisiana State Employees Retirement System raised its stake in Madison Square Garden Sports Corp. (NYSE:MSGS – Free Report) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,400 shares of the company’s stock after acquiring an additional 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Madison Square Garden Sports were worth $1,580,000 at the end of the most recent quarter.

A number of other hedge funds have recently made changes to their positions in MSGS. Vanguard Group Inc. raised its holdings in Madison Square Garden Sports by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,939,705 shares of the company’s stock worth $357,914,000 after buying an additional 12,813 shares during the last quarter. Gamco Investors INC. ET AL raised its position in Madison Square Garden Sports by 3.7% in the first quarter. Gamco Investors INC. ET AL now owns 594,169 shares of the company’s stock valued at $109,636,000 after purchasing an additional 21,149 shares during the last quarter. Gabelli Funds LLC boosted its stake in Madison Square Garden Sports by 0.7% in the 1st quarter. Gabelli Funds LLC now owns 413,800 shares of the company’s stock valued at $76,354,000 after purchasing an additional 2,850 shares during the last quarter. Norges Bank acquired a new stake in Madison Square Garden Sports in the fourth quarter valued at approximately $35,002,000. Finally, Dimensional Fund Advisors LP boosted its stake in Madison Square Garden Sports by 9.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 171,864 shares of the company’s stock valued at $31,250,000 after purchasing an additional 14,741 shares in the last quarter. 68.94% of the shares are currently held by hedge funds and other institutional investors.

Analyst upgrades and downgrades

Separately, Macquarie cut their price target on Madison Square Garden Sports from $240.00 to $235.00 and set an “outperform” rating for the company in a research note on Friday, August 16th.

Check out our latest Madison Square Garden sports research report

Performance of sports stocks in Madison Square Garden

Shares of Madison Square Garden Sports stock opened at $208.87 on Friday. The stock has a 50-day moving average of $195.26 and a two-hundred-day moving average of $189.20. Madison Square Garden Sports Corp. it has a one year low of $164.79 and a one year high of $213.26. The stock has a market cap of $5.00 billion, a PE ratio of 213.13 and a beta of 0.95.

Madison Square Garden Sports (NYSE:MSGS – Get Your Free Report ) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.73. Madison Square Garden Sports had a negative return on equity of 7.23% and a net margin of 2.59%. The firm had revenue of $227.25 million during the quarter, compared to analysts’ expectations of $167.71 million. During the same period last year, the company posted ($0.39) earnings per share. The company’s revenue for the quarter was up 79.1% compared to the same quarter last year. As a group, sell-side analysts predict that Madison Square Garden Sports Corp. will post 1.87 EPS for the current fiscal year.

Madison Square Garden Sports Profile

(Free report)

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. His 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.

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