Lafayette Investments Inc. Reduces Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Lafayette Investments Inc. lessened its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 3.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,399 shares of the company’s stock after selling 650 shares during the quarter. Lafayette Investments Inc. owned about 0.08% of Madison Square Garden Sports worth $3,527,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MSGS. JPMorgan Chase & Co. grew its stake in shares of Madison Square Garden Sports by 39.1% in the 1st quarter. JPMorgan Chase & Co. now owns 47,202 shares of the company’s stock valued at $8,467,000 after purchasing an additional 13,267 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Madison Square Garden Sports by 160.6% in the 1st quarter. Raymond James & Associates now owns 3,174 shares of the company’s stock valued at $569,000 after buying an additional 1,956 shares during the period. US Bancorp DE lifted its holdings in shares of Madison Square Garden Sports by 76.4% in the 1st quarter. US Bancorp DE now owns 614 shares of the company’s stock valued at $111,000 after buying an additional 266 shares during the period. Citigroup Inc. raised its holdings in Madison Square Garden Sports by 98.6% during the first quarter. Citigroup Inc. now owns 2,951 shares of the company’s stock worth $529,000 after purchasing an additional 1,465 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in Madison Square Garden Sports by 16.1% during the first quarter. Bank of Montreal Can now owns 32,415 shares of the company’s stock worth $5,822,000 after purchasing an additional 4,499 shares during the last quarter. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

Madison Square Garden Sports Trading Up 0.2 %

Shares of NYSE MSGS traded up $0.43 during trading on Friday, reaching $179.60. The company had a trading volume of 9,159 shares, compared to its average volume of 125,387. Madison Square Garden Sports Corp. has a twelve month low of $164.79 and a twelve month high of $215.79. The stock has a market capitalization of $4.30 billion, a PE ratio of 112.75 and a beta of 0.94. The stock has a 50-day moving average price of $185.52 and a two-hundred day moving average price of $179.80.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.22. The business had revenue of $326.90 million during the quarter, compared to the consensus estimate of $325.86 million. Madison Square Garden Sports had a negative return on equity of 11.27% and a net margin of 4.38%. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 earnings per share. On average, sell-side analysts predict that Madison Square Garden Sports Corp. will post 2.11 EPS for the current year.

Insider Activity

In other Madison Square Garden Sports news, COO David G. Hopkinson sold 937 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $192.21, for a total transaction of $180,100.77. Following the completion of the sale, the chief operating officer now owns 2,385 shares of the company’s stock, valued at $458,420.85. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO David G. Hopkinson sold 937 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $192.21, for a total value of $180,100.77. Following the completion of the sale, the chief operating officer now owns 2,385 shares of the company’s stock, valued at $458,420.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman James Lawrence Dolan sold 18,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $185.88, for a total value of $3,345,840.00. Following the completion of the sale, the chairman now directly owns 164,583 shares of the company’s stock, valued at approximately $30,592,688.04. The disclosure for this sale can be found here. Insiders sold a total of 46,176 shares of company stock valued at $8,661,793 over the last quarter. Company insiders own 22.28% of the company’s stock.

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.