E&G Advisors LP Makes New $203,000 Investment in Madison Square Garden Sports Corp. (NYSE:MSGS)

E&G Advisors LP purchased a new stake in Madison Square Garden Sports Corp. (NYSE:MSGS) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 900 shares of the company’s stock, valued at approximately $203,000.

Several other hedge funds also recently modified their holdings of MSGS. Empirical Asset Management LLC acquired a new stake in shares of Madison Square Garden Sports in the fourth quarter valued at about $26,120,000. Harbor Capital Advisors Inc. increased its position in Madison Square Garden Sports by 75.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 68,632 shares of the company’s stock valued at $14,293,000 after purchasing an additional 29,445 shares during the period. Tabor Asset Management LP bought a new position in Madison Square Garden Sports during the 3rd quarter worth approximately $5,558,000. Algert Global LLC lifted its position in shares of Madison Square Garden Sports by 535.4% in the 3rd quarter. Algert Global LLC now owns 31,459 shares of the company’s stock worth $6,552,000 after purchasing an additional 26,508 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Madison Square Garden Sports by 526.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 27,101 shares of the company’s stock valued at $5,644,000 after purchasing an additional 22,772 shares during the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

Analyst Ratings Changes

Separately, Macquarie boosted their target price on shares of Madison Square Garden Sports from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th.

Madison Square Garden Sports Price Performance

NYSE MSGS opened at $217.47 on Tuesday. The stock has a market capitalization of $5.21 billion, a P/E ratio of 74.73 and a beta of 0.91. The business has a 50 day simple moving average of $223.60 and a 200 day simple moving average of $214.71. Madison Square Garden Sports Corp. has a one year low of $178.35 and a one year high of $237.99.

Madison Square Garden Sports (NYSE:MSGS) last released its quarterly earnings data on Friday, November 1st. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.86) by $0.55. The company had revenue of $53.31 million during the quarter, compared to analyst estimates of $43.71 million. Madison Square Garden Sports had a net margin of 6.75% and a negative return on equity of 23.81%. Madison Square Garden Sports’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.79) EPS. Equities analysts expect that Madison Square Garden Sports Corp. will post 0.81 earnings per share for the current year.

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.