Harbor Capital Advisors Inc. Sells 3,994 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Harbor Capital Advisors Inc. reduced its stake in Madison Square Garden Sports Corp. (NYSE:MSGS) by 5.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 64,638 shares of the company’s stock after selling 3,994 shares during the period. Madison Square Garden Sports makes up about 0.6% of Harbor Capital Advisors Inc.’s portfolio, making the stock its 20th biggest position. Harbor Capital Advisors Inc.’s holdings in Madison Square Garden Sports were worth $14,588,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its stake in shares of Madison Square Garden Sports by 31.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 223 shares of the company’s stock valued at $46,000 after purchasing an additional 53 shares during the period. Versant Capital Management Inc increased its holdings in Madison Square Garden Sports by 35.3% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the company’s stock worth $53,000 after purchasing an additional 61 shares in the last quarter. Blue Trust Inc. lifted its stake in Madison Square Garden Sports by 326.5% in the third quarter. Blue Trust Inc. now owns 418 shares of the company’s stock valued at $87,000 after buying an additional 320 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of Madison Square Garden Sports during the 3rd quarter worth approximately $119,000. Finally, Quent Capital LLC grew its position in shares of Madison Square Garden Sports by 271.3% during the 3rd quarter. Quent Capital LLC now owns 609 shares of the company’s stock worth $127,000 after buying an additional 445 shares during the period. 68.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Macquarie upped their price objective 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 Stock Down 1.1 %

NYSE:MSGS traded down $2.27 on Friday, hitting $213.51. The stock had a trading volume of 23,401 shares, compared to its average volume of 86,426. The company has a market cap of $5.11 billion, a PE ratio of 73.37 and a beta of 0.91. Madison Square Garden Sports Corp. has a 52 week low of $176.27 and a 52 week high of $237.99. The business’s fifty day moving average is $225.47 and its 200 day moving average is $211.69.

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, topping the consensus estimate of ($0.86) by $0.55. Madison Square Garden Sports had a net margin of 6.75% and a negative return on equity of 23.81%. The firm had revenue of $53.31 million for the quarter, compared to the consensus estimate of $43.71 million. During the same quarter in the prior year, the company posted ($0.79) earnings per share. The business’s revenue was up 23.8% on a year-over-year basis. Equities analysts predict that Madison Square Garden Sports Corp. will post 0.81 earnings per share for the current fiscal year.

About Madison Square Garden Sports

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.