State of Tennessee Department of Treasury Sells 1,491 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

State of Tennessee Department of Treasury decreased its position in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 25.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,360 shares of the company's stock after selling 1,491 shares during the quarter. State of Tennessee Department of Treasury's holdings in Madison Square Garden Sports were worth $984,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC grew its position in Madison Square Garden Sports by 242.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 992 shares of the company's stock worth $224,000 after buying an additional 702 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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 worth $50,124,000 after purchasing an additional 9,979 shares in the last quarter. First Trust Advisors LP increased its position in shares of Madison Square Garden Sports by 377.1% during the fourth quarter. First Trust Advisors LP now owns 57,879 shares of the company's stock valued at $13,062,000 after purchasing an additional 45,748 shares during the period. Zacks Investment Management acquired a new position in shares of Madison Square Garden Sports in the fourth quarter valued at $365,000. Finally, NewEdge Advisors LLC boosted its stake in Madison Square Garden Sports by 2.2% during the fourth quarter. NewEdge Advisors LLC now owns 2,914 shares of the company's stock worth $658,000 after buying an additional 62 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MSGS. JPMorgan Chase & Co. decreased their target price on shares of Madison Square Garden Sports from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Monday. Susquehanna initiated coverage on Madison Square Garden Sports in a research report on Monday, April 28th. They set a "positive" rating and a $254.00 target price for the company. Macquarie upped their price target 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. Finally, Morgan Stanley cut their price objective on Madison Square Garden Sports from $235.00 to $215.00 and set an "equal weight" rating for the company in a report on Monday.

Insider Activity

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 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 transaction, the insider now owns 5,097 shares of the company's stock, valued at approximately $968,022.24. This represents a 86.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.10% of the stock is owned by insiders.

Madison Square Garden Sports Stock Up 0.8 %

MSGS traded up $1.47 during trading on Monday, hitting $188.83. The company's stock had a trading volume of 207,630 shares, compared to its average volume of 113,381. The firm's 50 day moving average price is $192.36 and its two-hundred day moving average price is $210.59. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 79.68 and a beta of 0.78. Madison Square Garden Sports Corp. has a 12 month low of $173.26 and a 12 month high of $237.99.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The company reported ($0.59) EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($2.07). 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 $424.20 million for the quarter, compared to the consensus estimate of $436.84 million. During the same period in the prior year, the company earned $1.57 EPS. The firm's revenue was down 1.3% compared to the same quarter last year. On average, sell-side analysts forecast that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current year.

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.