Putnam Investments LLC Sells 7,271 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Posted by on Sep 15th, 2023

Putnam Investments LLC reduced its holdings in shares of Madison Square Garden Sports Corp. (NYSE:MSGS – Free Report) by 8.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 83,800 shares of the company’s stock after selling 7,271 shares during the quarter. Putnam Investments LLC owned approximately 0.35% of Madison Square Garden Sports worth $16,328,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake in shares of Madison Square Garden Sports by 738.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 176 shares of the company’s stock worth $34,000 after acquiring an additional 155 shares during the period. State of Wyoming bought a new stake in Madison Square Garden Sports in the 4th quarter valued at $34,000. Resources Management Corp CT ADV bought a new stake in Madison Square Garden Sports in the 1st quarter valued at $37,000. Harbour Investments Inc. boosted its stake in Madison Square Garden Sports by 42.9% in the 1st quarter. Harbour Investments Inc. now owns 233 shares of the company’s stock valued at $45,000 after purchasing an additional 70 shares during the period. Finally, Federated Hermes Inc. bought a new stake in Madison Square Garden Sports in the 3rd quarter valued at $66,000. 73.51% of the stock is currently owned by institutional investors.

Madison Square Garden Sports Price Performance

MSGS opened at $180.35 on Friday. The business has a fifty day simple moving average of $190.13 and a 200 day simple moving average of $189.34. The company has a market capitalization of $4.31 billion, a PE ratio of 94.92 and a beta of 0.95. Madison Square Garden Sports Corp. has a 1 year low of $136.61 and a 1 year high of $215.79.

Madison Square Garden Sports (NYSE:MSGS – Get Free Report) last released its quarterly earnings results on Thursday, August 17th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.41). The firm had revenue of $126.90 million during the quarter, compared to the consensus estimate of $120.35 million. Madison Square Garden Sports had a net margin of 5.39% and a negative return on equity of 15.56%. The business’s revenue for the quarter was down 27.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.11 earnings per share. Equities analysts anticipate that Madison Square Garden Sports Corp. will post 1.8 earnings per share for the current fiscal year.

Madison Square Garden Sports Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Madison Square Garden Sports (NYSE:MSGS)

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