Franklin Resources Inc. Has $21.71 Million Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Franklin Resources Inc. raised its position in Madison Square Garden Sports Corp. (NYSE:MSGS) by 1.3% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 99,847 shares of the company’s stock after buying an additional 1,326 shares during the period. Franklin Resources Inc.’s holdings in Madison Square Garden Sports were worth $21,706,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in MSGS. Venturi Wealth Management LLC raised its holdings in Madison Square Garden Sports by 31.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 223 shares of the company’s stock worth $46,000 after purchasing an additional 53 shares during the last quarter. Blue Trust Inc. raised its position in shares of Madison Square Garden Sports by 326.5% during the 3rd quarter. Blue Trust Inc. now owns 418 shares of the company’s stock valued at $87,000 after acquiring an additional 320 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Madison Square Garden Sports in the 3rd quarter valued at $119,000. Quent Capital LLC increased its holdings in Madison Square Garden Sports by 271.3% in the third quarter. Quent Capital LLC now owns 609 shares of the company’s stock valued at $127,000 after purchasing an additional 445 shares during the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of Madison Square Garden Sports during the 2nd quarter worth about $132,000. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Sports Price Performance

Shares of Madison Square Garden Sports stock opened at $223.79 on Friday. The business has a 50-day moving average of $224.88 and a two-hundred day moving average of $208.00. Madison Square Garden Sports Corp. has a 1 year low of $176.10 and a 1 year high of $237.99. The company has a market capitalization of $5.36 billion, a P/E ratio of 76.90 and a beta of 0.91.

Madison Square Garden Sports (NYSE:MSGS) last announced its earnings results on Friday, November 1st. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.55. The firm had revenue of $53.31 million during the quarter, compared to analyst estimates of $43.71 million. Madison Square Garden Sports had a net margin of 6.75% and a negative return on equity of 23.81%. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.79) EPS. On average, equities analysts anticipate that Madison Square Garden Sports Corp. will post 0.81 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Macquarie boosted their price objective on shares of Madison Square Garden Sports from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th.

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 development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.