Bank of America Corp DE Sells 6,902 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Bank of America Corp DE lessened its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 16.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,829 shares of the company's stock after selling 6,902 shares during the quarter. Bank of America Corp DE owned about 0.15% of Madison Square Garden Sports worth $8,086,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Barclays PLC lifted its position in shares of Madison Square Garden Sports by 8.4% in the 3rd quarter. Barclays PLC now owns 14,668 shares of the company's stock worth $3,056,000 after acquiring an additional 1,131 shares during the period. SG Americas Securities LLC acquired a new position in shares of Madison Square Garden Sports in the 4th quarter worth approximately $685,000. Exchange Traded Concepts LLC raised its holdings in shares of Madison Square Garden Sports by 4.2% in the 4th quarter. Exchange Traded Concepts LLC now owns 8,725 shares of the company's stock worth $1,969,000 after buying an additional 354 shares in the last quarter. Fifth Third Bancorp increased its holdings 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 purchasing an additional 75 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in Madison Square Garden Sports by 39.7% in the 4th quarter. Blue Trust Inc. now owns 584 shares of the company's stock valued at $122,000 after buying an additional 166 shares during the last quarter. Institutional investors own 68.94% of the company's stock.

Madison Square Garden Sports Stock Up 0.6%

Madison Square Garden Sports stock traded up $1.18 during trading hours on Thursday, reaching $188.96. 45,856 shares of the company's stock were exchanged, compared to its average volume of 113,342. The firm's 50 day simple moving average is $191.50 and its 200 day simple moving average is $207.25. Madison Square Garden Sports Corp. has a twelve month low of $173.26 and a twelve month high of $237.99. The firm has a market capitalization of $4.54 billion, a PE ratio of 79.71 and a beta of 0.78.

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 the consensus estimate of $1.48 by ($2.07). The firm had revenue of $424.20 million during the quarter, compared to analyst estimates of $436.84 million. Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. The business's quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.57 earnings per share. Analysts anticipate that Madison Square Garden Sports Corp. will post 0.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Guggenheim restated a "buy" rating and issued a $314.00 price target on shares of Madison Square Garden Sports in a report on Tuesday, May 6th. Susquehanna initiated coverage on Madison Square Garden Sports in a research report on Monday, April 28th. They set a "positive" rating and a $254.00 price target on the stock. Macquarie increased 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. Morgan Stanley cut their target price on 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, JPMorgan Chase & Co. dropped their price target on 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. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $252.60.

Insider Buying and Selling

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