Northern Trust Corp Buys 6,839 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Northern Trust Corp increased its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 6.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 116,662 shares of the company's stock after buying an additional 6,839 shares during the quarter. Northern Trust Corp owned about 0.49% of Madison Square Garden Sports worth $26,328,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Madison Square Garden Sports by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 1,945,194 shares of the company's stock valued at $438,991,000 after purchasing an additional 33,641 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in shares of Madison Square Garden Sports by 1,854.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 498,607 shares of the company's stock valued at $112,526,000 after buying an additional 473,090 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Madison Square Garden Sports by 16.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 255,339 shares of the company's stock worth $57,625,000 after acquiring an additional 36,799 shares in the last quarter. Norges Bank acquired a new stake in shares of Madison Square Garden Sports in the 4th quarter worth about $54,052,000. Finally, Dimensional Fund Advisors LP boosted its stake in Madison Square Garden Sports by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 222,090 shares of the company's stock valued at $50,124,000 after purchasing an additional 9,979 shares during the last quarter. Institutional investors own 68.94% of the company's stock.

Madison Square Garden Sports Stock Performance

NYSE MSGS traded down $0.86 on Wednesday, hitting $195.90. 128,267 shares of the stock traded hands, compared to its average volume of 113,297. The business's fifty day moving average is $191.14 and its two-hundred day moving average is $209.38. Madison Square Garden Sports Corp. has a 12 month low of $173.26 and a 12 month high of $237.99. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 82.66 and a beta of 0.78.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of $1.48 by ($2.07). The firm had revenue of $424.20 million during the quarter, compared to analysts' expectations of $436.84 million. Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The company's revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business posted $1.57 EPS. Analysts expect that Madison Square Garden Sports Corp. will post 0.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on MSGS shares. Guggenheim reissued a "buy" rating and issued a $314.00 price objective on shares of Madison Square Garden Sports in a research note on Tuesday, May 6th. Macquarie raised their price objective 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. Susquehanna started coverage on shares of Madison Square Garden Sports in a research note on Monday, April 28th. They issued a "positive" rating and a $254.00 target price for the company. Morgan Stanley dropped 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 report on Monday, May 5th. Finally, 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 research report on Monday, May 5th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $252.60.

Insiders Place Their Bets

In other Madison Square Garden Sports news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the company's stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 18.05% of the company's stock.

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.