OFI Invest Asset Management Makes New Investment in Madison Square Garden Sports Corp. (NYSE:MSGS)

OFI Invest Asset Management bought a new position in Madison Square Garden Sports Corp. (NYSE:MSGS) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,733 shares of the company’s stock, valued at approximately $831,000.

Other hedge funds also recently bought and sold shares of the company. Raymond James & Associates raised its holdings in shares of Madison Square Garden Sports by 0.7% during the fourth quarter. Raymond James & Associates now owns 9,131 shares of the company’s stock worth $1,660,000 after acquiring an additional 61 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Madison Square Garden Sports during the fourth quarter worth $430,000. Cerity Partners LLC acquired a new stake in shares of Madison Square Garden Sports during the fourth quarter worth $206,000. Louisiana State Employees Retirement System acquired a new stake in shares of Madison Square Garden Sports during the fourth quarter worth $1,509,000. Finally, Yousif Capital Management LLC raised its holdings in shares of Madison Square Garden Sports by 2.4% during the fourth quarter. Yousif Capital Management LLC now owns 8,474 shares of the company’s stock worth $1,541,000 after acquiring an additional 201 shares during the period. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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 report on Friday.

Madison Square Garden Sports Price Performance

MSGS stock traded up $0.41 during midday trading on Friday, hitting $201.08. The company’s stock had a trading volume of 181,299 shares, compared to its average volume of 122,249. Madison Square Garden Sports Corp. has a twelve month low of $164.79 and a twelve month high of $213.26. The company’s fifty day moving average price is $192.97 and its 200 day moving average price is $188.44. The stock has a market capitalization of $4.82 billion, a P/E ratio of 205.18 and a beta of 0.95.

Madison Square Garden Sports (NYSE:MSGS) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.73. Madison Square Garden Sports had a net margin of 2.59% and a negative return on equity of 7.23%. The firm had revenue of $227.25 million for the quarter, compared to analyst estimates of $167.71 million. During the same period in the previous year, the business earned ($0.39) EPS. The company’s revenue was up 79.1% compared to the same quarter last year. Equities analysts expect that Madison Square Garden Sports Corp. will post 1.87 EPS for the current fiscal 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 two development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.