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

Point72 Asset Management L.P. decreased its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 30.5% in the 4th quarter, according to its most recent 13F 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 approximately 0.70% of Madison Square Garden Sports worth $37,884,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MSGS. Quantinno Capital Management LP grew its holdings in shares of Madison Square Garden Sports by 25.5% during the 4th quarter. Quantinno Capital Management LP now owns 12,411 shares of the company's stock worth $2,801,000 after purchasing an additional 2,524 shares during the period. Nomura Holdings Inc. grew its holdings in shares of Madison Square Garden Sports by 10.0% during the 4th quarter. Nomura Holdings Inc. now owns 44,790 shares of the company's stock worth $10,108,000 after purchasing an additional 4,076 shares during the period. Obermeyer Wealth Partners purchased a new stake in shares of Madison Square Garden Sports during the 4th quarter worth about $202,000. Lazard Asset Management LLC purchased a new stake in shares of Madison Square Garden Sports during the 4th quarter worth about $1,374,000. Finally, Gotham Asset Management LLC grew its holdings in shares of Madison Square Garden Sports by 7.3% during the 4th quarter. Gotham Asset Management LLC now owns 58,709 shares of the company's stock worth $13,249,000 after purchasing an additional 3,979 shares during the period. Hedge funds and other institutional investors own 68.94% of the company's stock.

Wall Street Analysts Forecast Growth

MSGS has been the subject of a number of research reports. Guggenheim reiterated a "buy" rating and set a $314.00 target price on shares of Madison Square Garden Sports in a report on Tuesday, May 6th. Macquarie boosted their target price on Madison Square Garden Sports from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on Madison Square Garden Sports from $240.00 to $230.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Susquehanna started coverage on Madison Square Garden Sports in a report on Monday, April 28th. They set a "positive" rating and a $254.00 target price for the company. Finally, Morgan Stanley reduced their price target on Madison Square Garden Sports from $235.00 to $215.00 and set an "equal weight" rating on the stock in a research report on Monday, May 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $252.60.

Madison Square Garden Sports Price Performance

Madison Square Garden Sports stock traded down $5.07 during midday trading on Wednesday, hitting $191.57. 117,747 shares of the company were exchanged, compared to its average volume of 113,151. Madison Square Garden Sports Corp. has a fifty-two week low of $173.26 and a fifty-two week high of $237.99. The company has a market cap of $4.60 billion, a PE ratio of 80.83 and a beta of 0.78. The company's fifty day moving average price is $191.88 and its 200-day moving average price is $208.50.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last issued 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 firm had revenue of $424.20 million during the quarter, compared to the consensus estimate of $436.84 million. During the same quarter last year, the firm posted $1.57 earnings per share. Madison Square Garden Sports's revenue was down 1.3% compared to the same quarter last year. On average, analysts expect that Madison Square Garden Sports Corp. will post 0.73 EPS for the current fiscal year.

Insider Activity

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 stock was sold at an average price of $189.92, for a total transaction of $6,044,204.00. Following the completion of the transaction, the insider now directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 18.05% of the company's stock.

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.