Renaissance Technologies LLC Cuts Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Renaissance Technologies LLC trimmed its position in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 50.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,558 shares of the company's stock after selling 35,142 shares during the quarter. Renaissance Technologies LLC owned approximately 0.14% of Madison Square Garden Sports worth $7,799,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. lifted its stake in shares of Madison Square Garden Sports by 6.3% in the 4th quarter. Invesco Ltd. now owns 83,258 shares of the company's stock valued at $18,790,000 after purchasing an additional 4,918 shares during the period. Bank of Montreal Can boosted its position in Madison Square Garden Sports by 2.1% in the fourth quarter. Bank of Montreal Can now owns 49,804 shares of the company's stock worth $11,240,000 after purchasing an additional 1,011 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Madison Square Garden Sports by 9.2% during the 4th quarter. Quadrant Capital Group LLC now owns 650 shares of the company's stock worth $147,000 after acquiring an additional 55 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Madison Square Garden Sports by 5.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 6,437 shares of the company's stock worth $1,453,000 after buying an additional 322 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new stake in Madison Square Garden Sports in the 4th quarter worth $631,000. Institutional investors own 68.94% of the company's stock.

Insiders Place Their Bets

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the firm's stock in a transaction 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 completion of the transaction, the insider now owns 5,097 shares in the company, valued at $968,022.24. This trade represents a 86.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 22.10% of the company's stock.

Madison Square Garden Sports Stock Up 1.6 %

Madison Square Garden Sports stock traded up $3.03 during mid-day trading on Thursday, reaching $192.60. 10,749 shares of the company's stock traded hands, compared to its average volume of 112,753. Madison Square Garden Sports Corp. has a 12-month low of $173.26 and a 12-month high of $237.99. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 81.27 and a beta of 0.81. The stock has a 50 day moving average of $194.22 and a two-hundred day moving average of $211.85.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.25). Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The company had revenue of $357.80 million for the quarter, compared to the consensus estimate of $352.68 million. During the same period in the previous year, the firm earned $0.59 earnings per share. The company's revenue was up 9.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Macquarie increased their price target 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.

Madison Square Garden Sports Company 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.