State of New Jersey Common Pension Fund D Sells 1,237 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

State of New Jersey Common Pension Fund D decreased its holdings in Madison Square Garden Sports Corp. (NYSE:MSGSGet Rating) by 7.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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’s holdings in Madison Square Garden Sports were worth $2,597,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. McDonald Partners LLC bought a new stake in shares of Madison Square Garden Sports in the first quarter worth $870,000. First Bank & Trust boosted its position in Madison Square Garden Sports by 9.2% during the first quarter. First Bank & Trust now owns 940 shares of the company’s stock valued at $168,000 after acquiring an additional 79 shares during the last quarter. Boyar Asset Management Inc. boosted its position in Madison Square Garden Sports by 2.4% during the first quarter. Boyar Asset Management Inc. now owns 23,641 shares of the company’s stock valued at $4,240,000 after acquiring an additional 563 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Madison Square Garden Sports by 21.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,075 shares of the company’s stock valued at $372,000 after acquiring an additional 373 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in Madison Square Garden Sports during the first quarter valued at $630,000. Institutional investors own 67.12% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on MSGS. Wolfe Research cut their price target on shares of Madison Square Garden Sports from $238.00 to $231.00 and set an “outperform” rating on the stock in a research report on Thursday, June 2nd. Macquarie cut their price objective on shares of Madison Square Garden Sports from $240.00 to $230.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 5th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $220.25.

Madison Square Garden Sports Price Performance

Shares of NYSE:MSGS opened at $153.78 on Monday. The firm has a fifty day moving average price of $155.72 and a two-hundred day moving average price of $164.27. Madison Square Garden Sports Corp. has a one year low of $145.41 and a one year high of $203.37. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 51.26 and a beta of 0.92.

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

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).

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

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