Main Street Financial Solutions LLC Acquires Shares of 14,001 Madison Square Garden Sports Corp. (NYSE:MSGS)

Main Street Financial Solutions LLC acquired a new stake in Madison Square Garden Sports Corp. (NYSE:MSGS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,001 shares of the company’s stock, valued at approximately $2,634,000. Main Street Financial Solutions LLC owned about 0.06% of Madison Square Garden Sports at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in shares of Madison Square Garden Sports by 80.6% during 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 position in shares of Madison Square Garden Sports by 179.8% during the second quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock worth $49,000 after purchasing an additional 169 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Madison Square Garden Sports by 40.8% during the fourth quarter. Quadrant Capital Group LLC now owns 449 shares of the company’s stock worth $82,000 after purchasing an additional 130 shares during the last quarter. Cape Investment Advisory Inc. raised its stake in Madison Square Garden Sports by 400.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 500 shares of the company’s stock worth $91,000 after acquiring an additional 400 shares during the period. Finally, Quent Capital LLC raised its stake in Madison Square Garden Sports by 312.4% during the first quarter. Quent Capital LLC now owns 565 shares of the company’s stock worth $104,000 after acquiring an additional 428 shares during the period. 68.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Macquarie dropped their price objective 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.

Insider Buying and Selling at Madison Square Garden Sports

In related news, CEO James Lawrence Dolan sold 629 shares of the firm’s stock in a transaction that occurred 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 $2,133,185.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 22.28% of the stock is owned by company insiders.

Madison Square Garden Sports Stock Up 0.2 %

MSGS opened at $202.34 on Thursday. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of 206.47 and a beta of 0.94. Madison Square Garden Sports Corp. has a fifty-two week low of $164.79 and a fifty-two week high of $213.26. The company’s 50-day moving average price is $200.00 and its 200 day moving average price is $190.59.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $1.06 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $167.71 million. During the same quarter last year, the business earned ($0.39) earnings per share. Madison Square Garden Sports’s revenue was up 79.1% compared to the same quarter last year. Research analysts anticipate that Madison Square Garden Sports Corp. will post 1.39 earnings per share 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.