BNP Paribas Financial Markets Trims Stock Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

BNP Paribas Financial Markets lowered its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 27.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,567 shares of the company's stock after selling 9,394 shares during the period. BNP Paribas Financial Markets owned approximately 0.10% of Madison Square Garden Sports worth $5,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP grew its position in Madison Square Garden Sports by 81.4% in the 4th quarter. Allworth Financial LP now owns 127 shares of the company's stock valued at $28,000 after acquiring an additional 57 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Madison Square Garden Sports by 119.0% in the fourth quarter. Fifth Third Bancorp now owns 138 shares of the company's stock valued at $31,000 after purchasing an additional 75 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in Madison Square Garden Sports during the 4th quarter worth approximately $43,000. Headlands Technologies LLC lifted its holdings in 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 buying an additional 244 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Madison Square Garden Sports by 423.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 272 shares of the company's stock valued at $62,000 after buying an additional 220 shares during the period. Institutional investors and hedge funds own 68.94% of the company's stock.

Insider Buying and Selling

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the business'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 completion of the sale, the insider now directly owns 5,097 shares of the company's stock, valued at $968,022.24. The trade was a 86.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 18.05% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of Madison Square Garden Sports from $240.00 to $230.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Guggenheim restated a "buy" rating and issued a $314.00 price target on shares of Madison Square Garden Sports in a research note on Tuesday, May 6th. Macquarie boosted their price target 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. Morgan Stanley dropped their price target on shares of Madison Square Garden Sports from $235.00 to $215.00 and set an "equal weight" rating for the company in a research note on Monday, May 5th. Finally, Susquehanna assumed coverage on shares of Madison Square Garden Sports in a research note on Monday, April 28th. They issued a "positive" rating and a $254.00 price target for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $252.60.

Madison Square Garden Sports Trading Up 0.5%

Shares of MSGS stock traded up $0.90 on Monday, reaching $198.32. 88,565 shares of the stock were exchanged, compared to its average volume of 113,333. The business's 50 day moving average price is $191.67 and its 200 day moving average price is $208.58. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 83.68 and a beta of 0.78. Madison Square Garden Sports Corp. has a twelve month low of $173.26 and a twelve month high of $237.99.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last issued its earnings results on Friday, May 2nd. The company reported ($0.59) EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($2.07). The firm had revenue of $424.20 million for the quarter, compared to analyst estimates of $436.84 million. Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The business's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.57 EPS. Equities research analysts forecast that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current year.

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.