Blog

Feb 02, 2024

Russell Investments Group Ltd. Reduces Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Russell Investments Group Ltd. decreased its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 53.1% in the 1st quarter, according to its most recent Form 13F filing

Russell Investments Group Ltd. decreased its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 53.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,102 shares of the company's stock after selling 10,313 shares during the period. Russell Investments Group Ltd.'s holdings in Madison Square Garden Sports were worth $1,774,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MSGS. T. Rowe Price Investment Management Inc. purchased a new position in Madison Square Garden Sports during the fourth quarter worth $60,500,000. Norges Bank acquired a new stake in shares of Madison Square Garden Sports during the fourth quarter worth $47,578,000. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Madison Square Garden Sports during the fourth quarter worth $23,208,000. Millennium Management LLC boosted its holdings in shares of Madison Square Garden Sports by 1,408.5% during the second quarter. Millennium Management LLC now owns 98,970 shares of the company's stock worth $14,944,000 after purchasing an additional 92,409 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Madison Square Garden Sports during the fourth quarter worth $16,866,000. Hedge funds and other institutional investors own 66.26% of the company's stock.

MSGS stock opened at $175.59 on Monday. Madison Square Garden Sports Corp. has a 52-week low of $136.61 and a 52-week high of $215.79. The stock's fifty day simple moving average is $192.39 and its 200-day simple moving average is $190.74. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of 92.42 and a beta of 0.92.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last posted its quarterly earnings data on Thursday, August 17th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.41). Madison Square Garden Sports had a negative return on equity of 15.56% and a net margin of 5.39%. The business had revenue of $126.90 million for the quarter, compared to analyst estimates of $120.35 million. During the same quarter last year, the business earned $1.11 EPS. Madison Square Garden Sports's revenue for the quarter was down 27.6% compared to the same quarter last year. As a group, analysts anticipate that Madison Square Garden Sports Corp. will post 1.8 earnings per share for the current fiscal year.

Madison Square Garden Sports Corp. operates as a professional sports company. 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 two development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Madison Square Garden Sports, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Madison Square Garden Sports wasn't on the list.

While Madison Square Garden Sports currently has a "hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.