Point72 Asset Management L.P. Cuts Stake in Madison Square Garden Sports Corp. (NYSE:MSGS)

Point72 Asset Management L.P. decreased its position in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 30.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 167,864 shares of the company's stock after selling 73,529 shares during the quarter. Point72 Asset Management L.P. owned 0.70% of Madison Square Garden Sports worth $37,884,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Advisors Capital Management LLC increased its position in shares of Madison Square Garden Sports by 0.5% in the fourth quarter. Advisors Capital Management LLC now owns 10,606 shares of the company's stock worth $2,394,000 after purchasing an additional 48 shares during the period. Treasurer of the State of North Carolina increased its stake in Madison Square Garden Sports by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 8,172 shares of the company's stock valued at $1,844,000 after acquiring an additional 50 shares during the last quarter. Quadrant Capital Group LLC raised its position in Madison Square Garden Sports by 9.2% during the fourth quarter. Quadrant Capital Group LLC now owns 650 shares of the company's stock valued at $147,000 after purchasing an additional 55 shares in the last quarter. Allworth Financial LP lifted its stake in 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. Finally, NewEdge Advisors LLC boosted its holdings in shares of Madison Square Garden Sports by 2.2% in the 4th quarter. NewEdge Advisors LLC now owns 2,914 shares of the company's stock valued at $658,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 68.94% of the company's stock.

Insider Activity at Madison Square Garden Sports

In other news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the stock in a transaction dated 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 sale, the insider now directly owns 5,097 shares of the company's stock, valued at approximately $968,022.24. This represents a 86.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 18.05% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. 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 research note on Tuesday, February 25th. JPMorgan Chase & Co. decreased 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. Guggenheim reiterated a "buy" rating and issued a $314.00 target price on shares of Madison Square Garden Sports in a report on Tuesday, May 6th. Susquehanna began coverage on shares of Madison Square Garden Sports in a report on Monday, April 28th. They set a "positive" rating and a $254.00 price target for the company. Finally, Morgan Stanley reduced their price objective 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. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $252.60.

Madison Square Garden Sports Price Performance

Shares of NYSE MSGS traded down $1.27 during mid-day trading on Thursday, reaching $189.87. 35,906 shares of the company's stock were exchanged, compared to its average volume of 112,952. The firm has a 50-day moving average price of $191.94 and a two-hundred day moving average price of $208.38. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 80.11 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.

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). Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. The firm had revenue of $424.20 million during the quarter, compared to analysts' expectations of $436.84 million. During the same quarter in the previous year, the company posted $1.57 EPS. Madison Square Garden Sports's revenue for the quarter was down 1.3% on a year-over-year basis. As a group, sell-side analysts forecast that Madison Square Garden Sports Corp. will post 0.73 EPS for the current fiscal 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.