Pullen Investment Management LLC Increases Stake in Madison Square Garden Sports Corp. (NYSE:MSGS)

Pullen Investment Management LLC raised its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 46.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,431 shares of the company's stock after purchasing an additional 2,347 shares during the quarter. Pullen Investment Management LLC's holdings in Madison Square Garden Sports were worth $1,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Madison Square Garden Sports by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 1,945,194 shares of the company's stock worth $438,991,000 after acquiring an additional 33,641 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in shares of Madison Square Garden Sports by 1,854.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 498,607 shares of the company's stock worth $112,526,000 after acquiring an additional 473,090 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Madison Square Garden Sports by 16.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 255,339 shares of the company's stock worth $57,625,000 after acquiring an additional 36,799 shares during the period. Norges Bank bought a new position in shares of Madison Square Garden Sports during the 4th quarter worth $54,052,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Madison Square Garden Sports by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 222,090 shares of the company's stock worth $50,124,000 after acquiring an additional 9,979 shares during the period. Institutional investors own 68.94% of the company's stock.

Madison Square Garden Sports Stock Down 1.8%

Shares of NYSE MSGS traded down $3.39 during trading hours on Wednesday, reaching $187.88. 141,991 shares of the stock traded hands, compared to its average volume of 113,601. The company has a market capitalization of $4.51 billion, a P/E ratio of 79.27 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 company's 50-day simple moving average is $191.71 and its two-hundred day simple moving average is $207.38.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $424.20 million for 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 business's quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.57 earnings per share. As a group, sell-side analysts forecast that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MSGS shares. JPMorgan Chase & Co. cut 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. 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 research note 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. 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 target price for the company. Finally, Guggenheim restated a "buy" rating and issued a $314.00 target price on shares of Madison Square Garden Sports in a research note on Tuesday, May 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $252.60.

Insider Activity at Madison Square Garden Sports

In other Madison Square Garden Sports 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 stock was sold at an average price of $189.92, for a total value of $6,044,204.00. Following the transaction, the insider now directly owns 5,097 shares of the company's stock, valued at $968,022.24. The trade was a 86.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.