Madison Square Garden Sports Corp. (NYSE:MSGS) Short Interest Update

Madison Square Garden Sports Corp. (NYSE:MSGS) was the recipient of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 310,700 shares, a decrease of 16.1% from the March 31st total of 370,500 shares. Based on an average daily trading volume, of 121,100 shares, the short-interest ratio is presently 2.6 days. Approximately 1.9% of the company’s stock are short sold.

Madison Square Garden Sports Stock Performance

Shares of Madison Square Garden Sports stock traded down $1.99 during trading on Tuesday, reaching $185.97. The company’s stock had a trading volume of 136,479 shares, compared to its average volume of 126,835. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 116.96 and a beta of 0.94. Madison Square Garden Sports has a one year low of $164.79 and a one year high of $215.79. The business’s fifty day moving average price is $184.70 and its 200-day moving average price is $180.37.

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

Insider Buying and Selling

In other news, Chairman James Lawrence Dolan sold 18,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $185.88, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO David G. Hopkinson sold 937 shares of Madison Square Garden Sports stock in a transaction on 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 legal filing with the SEC, which is available through the SEC website. Also, Chairman James Lawrence Dolan sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were 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. Over the last ninety days, insiders have sold 46,176 shares of company stock worth $8,661,793. Company insiders own 22.28% of the company’s stock.

Institutional Trading of Madison Square Garden Sports

Several hedge funds and other institutional investors have recently modified their holdings of MSGS. State of Alaska Department of Revenue grew its position in Madison Square Garden Sports by 407.4% during the third quarter. State of Alaska Department of Revenue now owns 12,914 shares of the company’s stock worth $2,276,000 after buying an additional 10,369 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in Madison Square Garden Sports during the third quarter worth about $553,000. Simplicity Solutions LLC increased its holdings in Madison Square Garden Sports by 1.8% in the 3rd quarter. Simplicity Solutions LLC now owns 13,079 shares of the company’s stock valued at $2,306,000 after buying an additional 229 shares during the period. Commonwealth Equity Services LLC acquired a new position in shares of Madison Square Garden Sports in the 3rd quarter valued at approximately $405,000. Finally, Maryland State Retirement & Pension System lifted its holdings in shares of Madison Square Garden Sports by 428.1% during the 3rd quarter. Maryland State Retirement & Pension System now owns 7,567 shares of the company’s stock worth $1,334,000 after acquiring an additional 6,134 shares during the period. Institutional investors own 68.94% 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.