The Manufacturers Life Insurance Company Grows Stock Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

The Manufacturers Life Insurance Company increased its stake in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 16.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 255,339 shares of the company's stock after acquiring an additional 36,799 shares during the quarter. The Manufacturers Life Insurance Company owned 1.07% of Madison Square Garden Sports worth $57,625,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC grew its stake in Madison Square Garden Sports by 8.4% in the third quarter. Barclays PLC now owns 14,668 shares of the company's stock valued at $3,056,000 after acquiring an additional 1,131 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Madison Square Garden Sports by 1.3% in the 3rd quarter. Franklin Resources Inc. now owns 99,847 shares of the company's stock worth $21,706,000 after purchasing an additional 1,326 shares in the last quarter. Inspire Trust Co. N.A. increased its stake in Madison Square Garden Sports by 18.6% during the 3rd quarter. Inspire Trust Co. N.A. now owns 7,000 shares of the company's stock valued at $1,458,000 after purchasing an additional 1,100 shares in the last quarter. Versant Capital Management Inc raised its holdings 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 worth $53,000 after buying an additional 61 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Madison Square Garden Sports by 43.6% in the fourth quarter. GAMMA Investing LLC now owns 916 shares of the company's stock valued at $207,000 after buying an additional 278 shares in the last quarter. 68.94% of the stock is owned by institutional investors.

Insider Transactions at Madison Square Garden Sports

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 5,097 shares in the company, valued at approximately $968,022.24. This represents a 86.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 22.10% of the company's stock.

Wall Street Analyst Weigh In

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

Madison Square Garden Sports Stock Down 2.6 %

MSGS stock traded down $5.06 during trading on Friday, reaching $187.79. The stock had a trading volume of 219,233 shares, compared to its average volume of 113,177. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of 79.24 and a beta of 0.81. Madison Square Garden Sports Corp. has a one year low of $173.26 and a one year high of $237.99. The company's 50 day moving average is $192.36 and its two-hundred day moving average is $210.72.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last released its earnings results on Friday, May 2nd. The company reported ($0.59) earnings per share (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 business had revenue of $424.20 million during the quarter, compared to the consensus estimate of $436.84 million. During the same period in the prior year, the company earned $1.57 earnings per share. The business's revenue was down 1.3% on a year-over-year basis. As a group, research analysts predict that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current fiscal 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.