Ameriprise Financial Inc. Reduces Stake in Madison Square Garden Sports Corp. (NYSE:MSGS)

Ameriprise Financial Inc. trimmed its holdings in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 40,716 shares of the company's stock after selling 2,342 shares during the period. Ameriprise Financial Inc. owned approximately 0.17% of Madison Square Garden Sports worth $9,189,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MSGS. T. Rowe Price Investment Management Inc. boosted its stake in shares of Madison Square Garden Sports by 1,854.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 498,607 shares of the company's stock worth $112,526,000 after buying an additional 473,090 shares during the last quarter. Norges Bank purchased a new position in shares of Madison Square Garden Sports in the 4th quarter worth $54,052,000. Wealthfront Advisers LLC purchased a new position in shares of Madison Square Garden Sports in the 4th quarter worth $16,844,000. First Trust Advisors LP boosted its stake in shares of Madison Square Garden Sports by 377.1% in the 4th quarter. First Trust Advisors LP now owns 57,879 shares of the company's stock worth $13,062,000 after buying an additional 45,748 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Madison Square Garden Sports by 16.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 255,339 shares of the company's stock worth $57,625,000 after buying an additional 36,799 shares during the last quarter. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Madison Square Garden Sports

In other news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of Madison Square Garden Sports stock in a transaction dated 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 sale, the insider now directly owns 5,097 shares of the company's stock, valued at approximately $968,022.24. The trade was a 86.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 18.05% of the company's stock.

Madison Square Garden Sports Stock Up 0.2%

NYSE:MSGS traded up $0.47 on Monday, reaching $190.72. 79,208 shares of the company's stock traded hands, compared to its average volume of 113,307. The stock has a 50-day simple moving average of $191.84 and a 200-day simple moving average of $207.50. The firm has a market cap of $4.58 billion, a PE ratio of 80.47 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 posted its quarterly 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 business had revenue of $424.20 million for the quarter, compared to the consensus estimate of $436.84 million. Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. Madison Square Garden Sports's revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.57 earnings per share. On average, equities analysts anticipate that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MSGS shares. Macquarie raised their target price on Madison Square Garden Sports from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Tuesday, February 25th. Guggenheim reaffirmed a "buy" rating and issued a $314.00 target price on shares of Madison Square Garden Sports in a report on Tuesday, May 6th. 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 report on Monday, May 5th. JPMorgan Chase & Co. decreased their target price on Madison Square Garden Sports from $240.00 to $230.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, Susquehanna started coverage on Madison Square Garden Sports in a report on Monday, April 28th. They issued a "positive" rating and a $254.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $252.60.

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.