Madison Square Garden Sports Corp. (NYSE:MSGS) Position Reduced by Wells Fargo & Company MN

Wells Fargo & Company MN decreased its stake in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 46.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,969 shares of the company's stock after selling 4,355 shares during the period. Wells Fargo & Company MN's holdings in Madison Square Garden Sports were worth $1,121,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MSGS. Resona Asset Management Co. Ltd. acquired a new position in Madison Square Garden Sports in the 4th quarter valued at about $631,000. Headlands Technologies LLC grew its holdings in shares of Madison Square Garden Sports by 1,016.7% in the 4th quarter. Headlands Technologies LLC now owns 268 shares of the company's stock worth $60,000 after acquiring an additional 244 shares during the period. National Bank of Canada FI raised its stake in shares of Madison Square Garden Sports by 155.8% during the 4th quarter. National Bank of Canada FI now owns 25,427 shares of the company's stock worth $5,738,000 after buying an additional 15,486 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Madison Square Garden Sports by 8.4% in the fourth quarter. Franklin Resources Inc. now owns 108,205 shares of the company's stock valued at $24,420,000 after purchasing an additional 8,358 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in Madison Square Garden Sports by 0.3% during the fourth quarter. California Public Employees Retirement System now owns 86,266 shares of the company's stock worth $19,469,000 after buying an additional 241 shares in the last quarter. 68.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Madison Square Garden Sports news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the business's stock in a transaction 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. The trade was a 86.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 22.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on MSGS shares. Susquehanna assumed coverage on Madison Square Garden Sports in a report on Monday, April 28th. They issued a "positive" rating and a $254.00 price target for the company. Macquarie upped their price target on shares of Madison Square Garden Sports from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 25th.

Madison Square Garden Sports Price Performance

MSGS stock traded up $0.13 during trading on Monday, reaching $187.49. 7,279 shares of the stock traded hands, compared to its average volume of 133,015. The business's 50 day moving average price is $192.36 and its 200-day moving average price is $210.59. The firm has a market capitalization of $4.50 billion, a PE ratio of 79.11 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 released 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 company had revenue of $424.20 million during the quarter, compared to analysts' expectations of $436.84 million. During the same period last year, the business earned $1.57 earnings per share. The company's revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities research analysts predict that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current year.

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.