Levin Capital Strategies L.P. Invests $555,000 in Madison Square Garden Sports Corp. (NYSE:MSGS)

Levin Capital Strategies L.P. purchased a new position in Madison Square Garden Sports Corp. (NYSE:MSGS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,051 shares of the company’s stock, valued at approximately $555,000.

A number of other institutional investors have also recently added to or reduced their stakes in MSGS. NBC Securities Inc. purchased a new position in Madison Square Garden Sports during the third quarter worth approximately $62,000. DekaBank Deutsche Girozentrale purchased a new stake in Madison Square Garden Sports in the third quarter valued at $102,000. Skandinaviska Enskilda Banken AB publ raised its position in Madison Square Garden Sports by 418.9% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 1,100 shares of the company’s stock valued at $194,000 after purchasing an additional 888 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Madison Square Garden Sports by 7.6% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 1,152 shares of the company’s stock valued at $203,000 after purchasing an additional 81 shares during the period. Finally, Cerity Partners LLC purchased a new stake in Madison Square Garden Sports in the fourth quarter valued at $206,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Insider Buying and Selling at Madison Square Garden Sports

In other Madison Square Garden Sports news, Chairman James Lawrence Dolan sold 19,003 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $187.81, for a total transaction of $3,568,953.43. Following the completion of the sale, the chairman now directly owns 182,583 shares of the company’s stock, valued at approximately $34,290,913.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman James Lawrence Dolan sold 19,003 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $187.81, for a total value of $3,568,953.43. Following the sale, the chairman now owns 182,583 shares in the company, valued at approximately $34,290,913.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO David G. Hopkinson sold 937 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $192.21, for a total value of $180,100.77. Following the sale, the chief operating officer now owns 2,385 shares in the company, valued at approximately $458,420.85. 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 in the last ninety days. Insiders own 22.28% of the company’s stock.

Madison Square Garden Sports Price Performance

Shares of MSGS stock traded down $1.69 on Thursday, hitting $184.07. The stock had a trading volume of 135,059 shares, compared to its average volume of 127,259. The firm has a market capitalization of $4.41 billion, a P/E ratio of 116.83 and a beta of 0.92. Madison Square Garden Sports Corp. has a 1 year low of $164.79 and a 1 year high of $215.79. The company’s 50 day moving average price is $184.66 and its 200-day moving average price is $180.40.

Madison Square Garden Sports (NYSE:MSGS) last released its earnings results on Tuesday, February 6th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.37 by $0.22. The firm had revenue of $326.90 million during the quarter, compared to analysts’ expectations of $325.86 million. Madison Square Garden Sports had a negative return on equity of 11.27% and a net margin of 4.38%. Madison Square Garden Sports’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 EPS. On average, equities analysts forecast that Madison Square Garden Sports Corp. will post 2.11 EPS for the current 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.