Algert Global LLC Lowers Stock Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

Algert Global LLC cut its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 30.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,880 shares of the company's stock after selling 9,579 shares during the quarter. Algert Global LLC owned approximately 0.09% of Madison Square Garden Sports worth $4,938,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MSGS. Vanguard Group Inc. lifted its holdings in shares of Madison Square Garden Sports by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 1,945,194 shares of the company's stock worth $438,991,000 after buying an additional 33,641 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of Madison Square Garden Sports by 1,854.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 498,607 shares of the company's stock valued at $112,526,000 after acquiring an additional 473,090 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Madison Square Garden Sports by 16.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 255,339 shares of the company's stock worth $57,625,000 after acquiring an additional 36,799 shares during the period. Norges Bank bought a new position in Madison Square Garden Sports during the 4th quarter worth about $54,052,000. Finally, Dimensional Fund Advisors LP increased its position in Madison Square Garden Sports by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 222,090 shares of the company's stock valued at $50,124,000 after purchasing an additional 9,979 shares during the period. Institutional investors own 68.94% of the company's stock.

Madison Square Garden Sports Trading Up 0.8 %

NYSE MSGS opened at $188.83 on Tuesday. The firm's fifty day simple moving average is $192.08 and its two-hundred day simple moving average is $210.38. The firm has a market capitalization of $4.53 billion, a P/E ratio of 79.68 and a beta of 0.78. Madison Square Garden Sports Corp. has a 12-month low of $173.26 and a 12-month high of $237.99.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last announced its earnings results on Friday, May 2nd. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of $1.48 by ($2.07). Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The business had revenue of $424.20 million for the quarter, compared to analysts' expectations of $436.84 million. During the same quarter last year, the firm earned $1.57 earnings per share. The firm's quarterly revenue was down 1.3% compared to the same quarter last year. As a group, sell-side analysts predict that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MSGS shares. Susquehanna initiated coverage on shares of Madison Square Garden Sports in a research note on Monday, April 28th. They set a "positive" rating and a $254.00 price objective on the stock. Morgan Stanley dropped their target price on Madison Square Garden Sports from $235.00 to $215.00 and set an "equal weight" rating on the stock in a research report on Monday. Macquarie boosted their price target on Madison Square Garden Sports from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. dropped their price objective on Madison Square Garden Sports from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Monday.

Insider Activity at Madison Square Garden Sports

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $189.92, for a total value of $6,044,204.00. Following the transaction, the insider now directly owns 5,097 shares of the company's stock, valued at $968,022.24. This represents a 86.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.10% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.