Madison Square Garden Sports Corp. (NYSE:MSGS) Shares Sold by Man Group plc

Man Group plc trimmed its holdings in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 63.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,432 shares of the company's stock after selling 4,282 shares during the quarter. Man Group plc's holdings in Madison Square Garden Sports were worth $549,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Allworth Financial LP lifted its position in shares of Madison Square Garden Sports by 81.4% during the fourth quarter. Allworth Financial LP now owns 127 shares of the company's stock worth $28,000 after purchasing an additional 57 shares during the last quarter. Fifth Third Bancorp boosted its position 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 acquiring an additional 75 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in Madison Square Garden Sports in the fourth quarter valued at about $43,000. Headlands Technologies LLC raised 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. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Madison Square Garden Sports by 423.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 272 shares of the company's stock valued at $62,000 after purchasing an additional 220 shares during the last quarter. 68.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. JPMorgan Chase & Co. lowered 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 research note on Monday, May 5th. Morgan Stanley lowered 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 research note on Monday, May 5th. Macquarie increased their price objective 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. Guggenheim reaffirmed 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. Finally, Susquehanna initiated coverage on shares of Madison Square Garden Sports in a research report on Monday, April 28th. They issued a "positive" rating and a $254.00 target price for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $252.60.

Insider Buying and Selling

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the company's stock in a transaction that occurred on 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 sale, the insider now directly owns 5,097 shares in the company, valued at approximately $968,022.24. This represents a 86.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 18.05% of the stock is owned by corporate insiders.

Madison Square Garden Sports Stock Down 1.8%

NYSE:MSGS traded down $3.39 on Wednesday, hitting $187.88. The stock had a trading volume of 141,991 shares, compared to its average volume of 113,562. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 79.27 and a beta of 0.78. The company has a fifty day moving average price of $191.71 and a two-hundred day moving average price of $207.38. Madison Square Garden Sports Corp. has a 1-year low of $173.26 and a 1-year high of $237.99.

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