Wellington Management Group LLP Boosts Stake in Madison Square Garden Sports Corp. (NYSE:MSGS)
Wellington Management Group LLP grew its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 61.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 44,851 shares of the company's stock after acquiring an additional 17,139 s Wellington Management Group LLP has increased its stake in Madison Square Garden Sports Corp. (NYSE:MSGS) by 61.8% during the third quarter. The firm now owns 44,851 shares of the company's stock after acquiring an additional 17,139 shares during the period. Wellington Management Group LLC owned about 0.19% of Madison Square Gard Sports at the end of the period, with other hedge funds and other institutional investors also investing in the company. The company's revenue was down 76% compared to the same period. Chairman James Lawrence Dolan sold 18,000 shares of company stock in a transaction on March 6th, valued at $3,345,688. Following the sale, Dolan now directly owns 164,583 shares in the firm.
Published : a month ago by MarketBeat in Finance
Wellington Management Group LLP grew its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 61.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 44,851 shares of the company's stock after acquiring an additional 17,139 shares during the period. Wellington Management Group LLP owned about 0.19% of Madison Square Garden Sports worth $7,907,000 at the end of the most recent quarter.
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A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. West Tower Group LLC bought a new stake in shares of Madison Square Garden Sports in the 2nd quarter worth approximately $27,000. Tower Research Capital LLC TRC lifted its position in Madison Square Garden Sports by 738.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 176 shares of the company's stock valued at $34,000 after acquiring an additional 155 shares in the last quarter. State of Wyoming bought a new position in Madison Square Garden Sports in the 4th quarter valued at approximately $34,000. Harbour Investments Inc. lifted its position 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 acquiring an additional 70 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in Madison Square Garden Sports in the 2nd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 73.51% of the company's stock.
In other news, Chairman James Lawrence Dolan sold 18,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $185.88, for a total transaction of $3,345,840.00. Following the transaction, the chairman now directly owns 164,583 shares of the company's stock, valued at approximately $30,592,688.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman James Lawrence Dolan sold 18,000 shares of the company's stock in a transaction on Wednesday, March 6th. The stock was 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 in the company, valued at approximately $30,592,688.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David G. Hopkinson sold 937 shares of the company'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 completion of the sale, the chief operating officer now owns 2,385 shares of the company's stock, valued at $458,420.85. The disclosure for this sale can be found here. Insiders have sold 46,176 shares of company stock valued at $8,661,793 in the last ninety days. 22.28% of the stock is currently owned by company insiders.
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MSGS stock opened at $182.27 on Monday. The stock has a market capitalization of $4.37 billion, a PE ratio of 114.64 and a beta of 0.95. Madison Square Garden Sports Corp. has a 12-month low of $164.79 and a 12-month high of $215.79. The stock's 50 day simple moving average is $187.28 and its 200 day simple moving average is $179.01.
Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.59 earnings per share 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 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%. The company's revenue was down 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 EPS. On average, research analysts predict that Madison Square Garden Sports Corp. will post 2.11 earnings per share for the current year.
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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