Madison Square Garden Sports Corp. (NYSE:MSGS) Shares Sold by Ariel Investments LLC

Ariel Investments LLC cut its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 891,629 shares of the company's stock after selling 26,425 shares during the quarter. Madison Square Garden Sports accounts for 2.1% of Ariel Investments LLC's portfolio, making the stock its 17th biggest holding. Ariel Investments LLC owned 3.72% of Madison Square Garden Sports worth $201,223,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MSGS. Allworth Financial LP grew its stake in shares of Madison Square Garden Sports by 81.4% during the 4th quarter. Allworth Financial LP now owns 127 shares of the company's stock worth $28,000 after purchasing an additional 57 shares during the period. Fifth Third Bancorp grew its position in Madison Square Garden Sports by 119.0% during the fourth quarter. Fifth Third Bancorp now owns 138 shares of the company's stock worth $31,000 after buying an additional 75 shares during the period. Heck Capital Advisors LLC purchased a new position in Madison Square Garden Sports in the fourth quarter valued at about $43,000. Versant Capital Management Inc lifted its position in shares of Madison Square Garden Sports by 35.3% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the company's stock valued at $53,000 after acquiring an additional 61 shares during the period. Finally, Headlands Technologies LLC boosted its stake in shares of Madison Square Garden Sports by 1,016.7% during the 4th quarter. Headlands Technologies LLC now owns 268 shares of the company's stock worth $60,000 after acquiring an additional 244 shares in the last quarter. Institutional investors and hedge funds own 68.94% of the company's stock.

Insider Activity at Madison Square Garden Sports

In other news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $189.92, for a total transaction of $6,044,204.00. Following the completion of the transaction, the insider now 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 SEC, which is available through this link. Insiders own 22.10% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on MSGS shares. Morgan Stanley decreased 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. JPMorgan Chase & Co. dropped their target price on shares of Madison Square Garden Sports from $240.00 to $230.00 and set an "overweight" rating for the company in a report on Monday. Macquarie upped their price target on shares of Madison Square Garden Sports from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Tuesday, February 25th. Finally, Susquehanna began 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 for the company.

Madison Square Garden Sports Price Performance

NYSE:MSGS traded up $1.47 on Monday, reaching $188.83. The stock had a trading volume of 207,630 shares, compared to its average volume of 113,381. The firm's fifty day moving average is $192.08 and its two-hundred day moving average is $210.38. The company has a market cap of $4.53 billion, a price-to-earnings 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 released its earnings results on Friday, May 2nd. The company reported ($0.59) EPS 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 firm had revenue of $424.20 million during the quarter, compared to analysts' expectations of $436.84 million. During the same period in the previous year, the firm posted $1.57 earnings per share. The firm's revenue was down 1.3% on a year-over-year basis. As a group, research analysts forecast that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current fiscal year.

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.