Wellington Management Group LLP Lowers Stock Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

Wellington Management Group LLP cut its position in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 7.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,834 shares of the company's stock after selling 5,233 shares during the quarter. Wellington Management Group LLP owned about 0.29% of Madison Square Garden Sports worth $15,534,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Heck Capital Advisors LLC bought a new stake in Madison Square Garden Sports in the 4th quarter valued at about $43,000. Pullen Investment Management LLC lifted its stake in shares of Madison Square Garden Sports by 46.2% during 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 shares of Madison Square Garden Sports in the fourth quarter worth $28,000. Mackenzie Financial Corp bought a new stake in shares of Madison Square Garden Sports during the fourth quarter valued at about $9,641,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Madison Square Garden Sports by 15.4% in 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. Hedge funds and other institutional investors own 68.94% of the company's stock.

Insider Activity

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

Analysts Set New Price Targets

MSGS has been the topic of a number of research analyst reports. Macquarie increased their target price on 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. Morgan Stanley decreased their price objective on 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. JPMorgan Chase & Co. dropped their target price on Madison Square Garden Sports from $240.00 to $230.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Susquehanna assumed 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 on the stock. Finally, Guggenheim reissued a "buy" rating and set a $314.00 price target on shares of Madison Square Garden Sports in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Madison Square Garden Sports presently has a consensus rating of "Moderate Buy" and an average price target of $252.60.

Madison Square Garden Sports Stock Performance

Shares of MSGS traded down $0.16 on Tuesday, hitting $189.60. 93,721 shares of the stock traded hands, compared to its average volume of 113,432. Madison Square Garden Sports Corp. has a one year low of $173.26 and a one year high of $237.99. The company has a market capitalization of $4.55 billion, a PE ratio of 80.00 and a beta of 0.78. The business has a 50 day simple moving average of $190.97 and a 200 day simple moving average of $206.33.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last issued 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). 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 the consensus estimate of $436.84 million. During the same quarter last year, the company earned $1.57 EPS. The firm's revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities analysts expect 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.