Incline Global Management LLC Sells 13,653 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Incline Global Management LLC lowered its stake in Madison Square Garden Sports Corp. (NYSE:MSGS) by 15.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 75,200 shares of the company’s stock after selling 13,653 shares during the period. Madison Square Garden Sports makes up 4.4% of Incline Global Management LLC’s holdings, making the stock its 19th biggest holding. Incline Global Management LLC’s holdings in Madison Square Garden Sports were worth $13,876,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Madison Square Garden Sports by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,939,705 shares of the company’s stock valued at $357,914,000 after buying an additional 12,813 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in Madison Square Garden Sports by 3.7% in the first quarter. Gamco Investors INC. ET AL now owns 594,169 shares of the company’s stock valued at $109,636,000 after buying an additional 21,149 shares in the last quarter. Gabelli Funds LLC boosted its stake in Madison Square Garden Sports by 0.7% in the first quarter. Gabelli Funds LLC now owns 413,800 shares of the company’s stock valued at $76,354,000 after buying an additional 2,850 shares in the last quarter. Norges Bank acquired a new stake in Madison Square Garden Sports in the fourth quarter valued at about $35,002,000. Finally, Dimensional Fund Advisors LP boosted its stake 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 in the last quarter. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Sports Price Performance

NYSE:MSGS traded up $1.85 during trading hours on Tuesday, hitting $201.14. The company’s stock had a trading volume of 68,418 shares, compared to its average volume of 119,386. The stock has a fifty day simple moving average of $190.42 and a 200-day simple moving average of $187.68. The company has a market capitalization of $4.82 billion, a P/E ratio of 205.24 and a beta of 0.96. Madison Square Garden Sports Corp. has a twelve month low of $164.79 and a twelve month high of $215.79.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $1.57 EPS for the quarter, missing analysts’ consensus estimates of $2.78 by ($1.21). The firm had revenue of $430.00 million for the quarter, compared to analyst estimates of $420.76 million. Madison Square Garden Sports had a net margin of 2.59% and a negative return on equity of 7.23%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.18 earnings per share. On average, equities analysts predict that Madison Square Garden Sports Corp. will post 1.87 EPS for the current fiscal year.

Madison Square Garden Sports 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.