Man Group plc Cuts Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

Man Group plc cut its stake in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 63.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. 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 quarter.

A number of other hedge funds have also added to or reduced their stakes in MSGS. Allworth Financial LP grew its holdings 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 in the last quarter. Fifth Third Bancorp lifted its position in Madison Square Garden Sports by 119.0% during 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 during the last quarter. Heck Capital Advisors LLC purchased a new position in Madison Square Garden Sports in the 4th quarter worth approximately $43,000. Headlands Technologies LLC increased its holdings in shares of Madison Square Garden Sports by 1,016.7% in the 4th quarter. Headlands Technologies LLC now owns 268 shares of the company's stock worth $60,000 after buying an additional 244 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position 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 buying an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 68.94% of the company's stock.

Wall Street Analyst Weigh In

MSGS has been the topic of a number of research reports. Guggenheim reissued a "buy" rating and set a $314.00 price objective on shares of Madison Square Garden Sports in a report on Tuesday, May 6th. Morgan Stanley decreased their price target 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 upped 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 research note on Tuesday, February 25th. 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. Finally, Susquehanna initiated coverage on shares of Madison Square Garden Sports in a research report on Monday, April 28th. They set a "positive" rating and a $254.00 price target for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Madison Square Garden Sports currently has an average rating of "Moderate Buy" and a consensus target price of $252.60.

Madison Square Garden Sports Stock Down 0.3%

Shares of Madison Square Garden Sports stock traded down $0.51 on Friday, reaching $189.13. The company's stock had a trading volume of 8,918 shares, compared to its average volume of 131,371. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 79.80 and a beta of 0.78. Madison Square Garden Sports Corp. has a 52 week low of $173.26 and a 52 week high of $237.99. The firm's fifty day simple moving average is $191.30 and its two-hundred day simple moving average is $206.99.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last posted 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 company had revenue of $424.20 million during the quarter, compared to the consensus estimate 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 company's revenue for the quarter was down 1.3% on a year-over-year basis. During the same period last year, the firm posted $1.57 EPS. As a group, research analysts predict that Madison Square Garden Sports Corp. will post 0.73 EPS for the current year.

Insider Activity at Madison Square Garden Sports

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the company's stock in a transaction 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 owns 5,097 shares of the company's stock, valued at $968,022.24. This represents a 86.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 18.05% of the stock is owned by corporate 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.