Independent Advisor Alliance Acquires New Shares in Madison Square Garden Sports Corp. (NYSE:MSGS)

Independent Advisor Alliance acquired a new stake in Madison Square Garden Sports Corp. (NYSE:MSGS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,411 shares of the company’s stock, valued at approximately $257,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Quadrant Capital Group LLC raised its holdings in Madison Square Garden Sports by 40.8% in 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 in the last quarter. Dimensional Fund Advisors LP boosted its position in Madison Square Garden Sports by 9.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 171,864 shares of the company’s stock valued at $31,250,000 after buying an additional 14,741 shares during the last quarter. Marest Capital LLC purchased a new stake in Madison Square Garden Sports in the fourth quarter valued at approximately $304,000. Charles Schwab Investment Management Inc. boosted its position in Madison Square Garden Sports by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 99,446 shares of the company’s stock valued at $18,082,000 after buying an additional 4,877 shares during the last quarter. Finally, Levin Capital Strategies L.P. purchased a new stake in Madison Square Garden Sports in the fourth quarter valued at approximately $555,000. 68.94% of the stock is currently owned by institutional investors.

Insider Transactions at Madison Square Garden Sports

In other news, Chairman James Lawrence Dolan sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $185.88, for a total transaction of $3,345,840.00. Following the completion of the transaction, the chairman now directly owns 164,583 shares of the company’s stock, valued at approximately $30,592,688.04. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 45,239 shares of company stock valued at $8,481,692 in the last three months. 22.28% of the stock is currently owned by company insiders.

Madison Square Garden Sports Trading Down 0.3 %

Madison Square Garden Sports stock opened at $185.78 on Thursday. Madison Square Garden Sports Corp. has a 12 month low of $164.79 and a 12 month high of $215.79. The stock’s 50 day simple moving average is $184.69 and its two-hundred day simple moving average is $182.02. The firm has a market cap of $4.45 billion, a PE ratio of 189.57 and a beta of 0.92.

Madison Square Garden Sports (NYSE:MSGS) last announced its earnings results on Thursday, May 2nd. The company reported $1.57 earnings per share for the quarter, missing the consensus estimate of $2.78 by ($1.21). The business had revenue of $430.00 million for the quarter, compared to analyst estimates of $420.76 million. Madison Square Garden Sports had a negative return on equity of 7.23% and a net margin of 2.59%. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.18 earnings per share. On average, equities research analysts forecast that Madison Square Garden Sports Corp. will post 1.91 EPS for the current 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 two development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.