Argent Capital Management LLC Boosts Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Argent Capital Management LLC lifted its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 15.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,172 shares of the company’s stock after acquiring an additional 283 shares during the quarter. Argent Capital Management LLC’s holdings in Madison Square Garden Sports were worth $452,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Madison Square Garden Sports by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,939,705 shares of the company’s stock valued at $357,914,000 after purchasing an additional 12,813 shares during the period. Ariel Investments LLC grew its stake in Madison Square Garden Sports by 3.5% in the second quarter. Ariel Investments LLC now owns 970,156 shares of the company’s stock valued at $182,515,000 after purchasing an additional 33,031 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings 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 worth $109,636,000 after purchasing an additional 21,149 shares in the last quarter. Gabelli Funds LLC grew its position in shares of Madison Square Garden Sports by 0.4% in the 2nd quarter. Gabelli Funds LLC now owns 415,288 shares of the company’s stock worth $78,128,000 after buying an additional 1,488 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in shares of Madison Square Garden Sports by 1,231.8% during the second quarter. Point72 Asset Management L.P. now owns 246,374 shares of the company’s stock worth $46,350,000 after purchasing an additional 227,874 shares in the last quarter. Institutional investors own 68.94% of the company’s stock.

Insider Buying and Selling

In other news, CEO James Lawrence Dolan sold 629 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $209.30, for a total value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 22.28% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Madison Square Garden Sports Stock Up 0.1 %

Shares of MSGS stock traded up $0.25 during mid-day trading on Thursday, hitting $216.64. 7,813 shares of the stock were exchanged, compared to its average volume of 113,633. The firm has a fifty day moving average of $209.63 and a 200 day moving average of $196.32. Madison Square Garden Sports Corp. has a 52-week low of $164.79 and a 52-week high of $221.50. The company has a market cap of $5.19 billion, a PE ratio of 220.65 and a beta of 0.93.

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

Madison Square Garden Sports 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.