Lafayette Investments Inc. Decreases Stock Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

Lafayette Investments Inc. lowered its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 2.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 14,826 shares of the company’s stock after selling 401 shares during the period. Lafayette Investments Inc. owned approximately 0.06% of Madison Square Garden Sports worth $3,088,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MSGS. EverSource Wealth Advisors LLC boosted its position in Madison Square Garden Sports by 80.6% in the first quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock worth $42,000 after purchasing an additional 100 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Madison Square Garden Sports by 179.8% in the 2nd quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock worth $49,000 after purchasing an additional 169 shares during the period. Blue Trust Inc. boosted its holdings in shares of Madison Square Garden Sports by 326.5% in the third quarter. Blue Trust Inc. now owns 418 shares of the company’s stock worth $87,000 after buying an additional 320 shares during the last quarter. Quent Capital LLC grew its position in Madison Square Garden Sports by 312.4% during the first quarter. Quent Capital LLC now owns 565 shares of the company’s stock valued at $104,000 after buying an additional 428 shares during the period. Finally, BNP Paribas purchased a new stake in Madison Square Garden Sports during the first quarter valued at approximately $111,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Insider Activity

In related news, CEO James Lawrence Dolan sold 629 shares of Madison Square Garden Sports stock in a transaction on Monday, August 26th. The shares were sold at an average price of $209.30, for a total transaction of $131,649.70. Following the transaction, the chief executive officer now owns 10,192 shares in the company, valued at approximately $2,133,185.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 22.28% of the company’s stock.

Madison Square Garden Sports Stock Down 0.2 %

MSGS traded down $0.43 during midday trading on Thursday, reaching $215.96. The company had a trading volume of 1,741 shares, compared to its average volume of 113,604. Madison Square Garden Sports Corp. has a 1 year low of $164.79 and a 1 year high of $221.50. The company has a market cap of $5.17 billion, a P/E ratio of 220.81 and a beta of 0.93. The business has a 50-day moving average of $209.24 and a two-hundred day moving average of $196.18.

Madison Square Garden Sports (NYSE:MSGS) last released its earnings results on Tuesday, August 13th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.73. Madison Square Garden Sports had a net margin of 5.72% and a negative return on equity of 18.69%. The company had revenue of $227.25 million during the quarter, compared to analyst estimates of $167.71 million. During the same period in the prior year, the firm posted ($0.39) EPS. The firm’s quarterly revenue was up 79.1% compared to the same quarter last year. On average, equities research analysts predict that Madison Square Garden Sports Corp. will post 1.42 EPS for the current year.

Wall Street Analyst Weigh In

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

Madison Square Garden Sports Company Profile

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. Its 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.