Central Pacific Bank Trust Division Raises Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Central Pacific Bank Trust Division lifted its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 29.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,600 shares of the company's stock after purchasing an additional 1,500 shares during the quarter. Central Pacific Bank Trust Division's holdings in Madison Square Garden Sports were worth $1,285,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Heck Capital Advisors LLC acquired a new position in Madison Square Garden Sports in the 4th quarter valued at about $43,000. Pullen Investment Management LLC grew its holdings in Madison Square Garden Sports by 46.2% in the 4th quarter. Pullen Investment Management LLC now owns 7,431 shares of the company's stock valued at $1,677,000 after buying an additional 2,347 shares in the last quarter. Putney Financial Group LLC bought a new position in Madison Square Garden Sports during the 4th quarter worth $28,000. Mackenzie Financial Corp bought a new position in Madison Square Garden Sports during the 4th quarter worth $9,641,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Madison Square Garden Sports by 15.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 43,926 shares of the company's stock worth $9,913,000 after buying an additional 5,864 shares in the last quarter. Institutional investors and hedge funds own 68.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MSGS shares. JPMorgan Chase & Co. decreased their target price on shares of Madison Square Garden Sports from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Guggenheim reaffirmed a "buy" rating and set a $314.00 target price on shares of Madison Square Garden Sports in a research note on Tuesday, May 6th. Morgan Stanley reduced their target price on shares of 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. Macquarie lifted their price objective on 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. Finally, Susquehanna initiated coverage on Madison Square Garden Sports in a research note on Monday, April 28th. They issued a "positive" rating and a $254.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $252.60.

Madison Square Garden Sports Stock Up 0.1%

NYSE:MSGS traded up $0.14 during trading hours on Wednesday, hitting $189.48. 17,376 shares of the company traded hands, compared to its average volume of 112,983. The firm's 50-day simple moving average is $190.79 and its 200-day simple moving average is $206.21. The company has a market cap of $4.55 billion, a PE ratio of 79.95 and a beta of 0.78. Madison Square Garden Sports Corp. has a one year low of $173.26 and a one year high of $237.99.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations 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 company's quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the business posted $1.57 EPS. As a group, equities research analysts expect that Madison Square Garden Sports Corp. will post 0.73 EPS for the current year.

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 transaction of $6,044,204.00. Following the completion of the sale, the insider now owns 5,097 shares in the company, valued at approximately $968,022.24. This trade represents a 86.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 18.05% of the company's stock.

Madison Square Garden Sports Company 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.