Price T Rowe Associates Inc. MD Decreases Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Price T Rowe Associates Inc. MD decreased its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 17.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,361 shares of the company's stock after selling 2,615 shares during the period. Price T Rowe Associates Inc. MD owned about 0.05% of Madison Square Garden Sports worth $2,790,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP boosted its position in Madison Square Garden Sports by 81.4% during the fourth quarter. Allworth Financial LP now owns 127 shares of the company's stock valued at $28,000 after purchasing an additional 57 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Madison Square Garden Sports by 119.0% in the fourth quarter. Fifth Third Bancorp now owns 138 shares of the company's stock worth $31,000 after purchasing an additional 75 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in shares of Madison Square Garden Sports in the fourth quarter worth about $43,000. Versant Capital Management Inc raised its position in Madison Square Garden Sports by 35.3% during the fourth quarter. Versant Capital Management Inc now owns 234 shares of the company's stock valued at $53,000 after acquiring an additional 61 shares in the last quarter. Finally, Headlands Technologies LLC raised its position in Madison Square Garden Sports by 1,016.7% during the fourth quarter. Headlands Technologies LLC now owns 268 shares of the company's stock valued at $60,000 after acquiring an additional 244 shares in the last quarter. Hedge funds and other institutional investors own 68.94% of the company's stock.

Insider Transactions at Madison Square Garden Sports

In other news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of Madison Square Garden Sports 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 sale, the insider now owns 5,097 shares of the company's stock, valued at $968,022.24. The trade was a 86.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 18.05% of the company's stock.

Madison Square Garden Sports Trading Up 0.5%

Shares of MSGS traded up $0.87 during mid-day trading on Friday, hitting $191.78. The company's stock had a trading volume of 105,539 shares, compared to its average volume of 113,464. Madison Square Garden Sports Corp. has a 1-year low of $173.26 and a 1-year high of $237.99. The firm has a market capitalization of $4.60 billion, a P/E ratio of 80.92 and a beta of 0.78. The firm has a 50-day simple moving average of $191.27 and a 200 day simple moving average of $209.65.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last released 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). 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 period in the previous year, the business earned $1.57 earnings per share. The business's revenue for the quarter was down 1.3% on a year-over-year basis. As a group, sell-side analysts predict that Madison Square Garden Sports Corp. will post 0.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.