Do You Think Madison Square Garden Sports Corp. (MSGS) Has a Strong Financial Position?

Longleaf Partners, managed by Southeastern Asset Management, released its “Small-Cap Fund” fourth-quarter investor letter. A copy of the same can be downloaded here. The fund delivered 4.74% in the fourth quarter compared to a 6.23% return for the Russell 2000 Index, while the fund declined -19.27% in the year 2022. Multiple companies across sectors delivered strong returns and positive relative performance in the fourth quarter.  In addition, please check the fund’s top five holdings to know its best picks in 2022.

Longleaf Partners Small-Cap Fund highlighted stocks Madison Square Garden Sports Corp. (NYSE:MSGS) in the Q4 2022 investor letter. Headquartered in New York, New York, Madison Square Garden Sports Corp. (NYSE:MSGS) is a sports company. On February 3, 2023, Madison Square Garden Sports Corp. (NYSE:MSGS) stock closed at $180.09 per share. One-month return of Madison Square Garden Sports Corp. (NYSE:MSGS) was -1.85%, and its shares gained 4.68% of their value over the last 52 weeks. Madison Square Garden Sports Corp. (NYSE:MSGS) has a market capitalization of $4.382 billion.

Longleaf Partners Small-Cap Fund made the following comment about Madison Square Garden Sports Corp. (NYSE:MSGS) in its Q4 2022 investor letter:

Madison Square Garden Sports Corp. (NYSE:MSGS), the owner of the Knicks and the Rangers, contributed as the market for sports teams remained strong and if anything got better as the year went on. If the Phoenix Suns are worth anywhere near the $4 billion that they transacted at to end the year, then the Knicks are worth much more. Yet, with the Rangers at a Forbes or Sportico valuation, the Knicks are priced way below that $4 billion. The company also used its strong financial position to pay a dividend and repurchase shares.”

Madison Square Garden

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Madison Square Garden Sports Corp. (NYSE:MSGS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 38 hedge fund portfolios held Madison Square Garden Sports Corp. (NYSE:MSGS) at the end of the third quarter, which was 33 in the previous quarter.

We discussed Madison Square Garden Sports Corp. (NYSE:MSGS) in another article and shared East 72’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.