Vanguard Group Inc. Raises Stock Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Vanguard Group Inc. boosted its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,945,194 shares of the company’s stock after acquiring an additional 33,641 shares during the period. Vanguard Group Inc. owned 8.12% of Madison Square Garden Sports worth $438,991,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of MSGS. Allworth Financial LP increased its position in shares of Madison Square Garden Sports by 81.4% during the fourth quarter. Allworth Financial LP now owns 127 shares of the company’s stock worth $28,000 after purchasing an additional 57 shares in the last quarter. Fifth Third Bancorp increased its position in Madison Square Garden Sports by 119.0% during the 4th quarter. Fifth Third Bancorp now owns 138 shares of the company’s stock valued at $31,000 after buying an additional 75 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in Madison Square Garden Sports in the fourth quarter valued at about $43,000. Versant Capital Management Inc boosted its holdings in Madison Square Garden Sports by 35.3% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the company’s stock worth $53,000 after acquiring an additional 61 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Madison Square Garden Sports by 423.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 272 shares of the company’s stock worth $62,000 after acquiring an additional 220 shares during the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Madison Square Garden Sports news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $189.92, for a total value of $6,044,204.00. Following the sale, the insider now directly owns 5,097 shares of the company’s stock, valued at approximately $968,022.24. This represents a 86.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 22.10% of the stock is currently owned by insiders.

Madison Square Garden Sports Price Performance

Shares of MSGS opened at $198.24 on Wednesday. The firm has a market capitalization of $4.76 billion, a PE ratio of 83.65 and a beta of 0.91. The company’s fifty day moving average price is $203.93 and its 200-day moving average price is $214.64. Madison Square Garden Sports Corp. has a 1-year low of $178.35 and a 1-year high of $237.99.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.25). Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. The firm had revenue of $357.80 million during the quarter, compared to analyst estimates of $352.68 million. During the same period in the prior year, the company posted $0.59 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, research analysts anticipate that Madison Square Garden Sports Corp. will post 0.73 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Macquarie lifted their target price on shares of Madison Square Garden Sports from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 25th.

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