Madison Square Garden Sports Corp. (NYSE:MSGS) Shares Sold by Shapiro Capital Management LLC

Shapiro Capital Management LLC lowered its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS) by 12.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 230,283 shares of the company’s stock after selling 31,895 shares during the quarter. Madison Square Garden Sports comprises 1.8% of Shapiro Capital Management LLC’s investment portfolio, making the stock its 25th biggest holding. Shapiro Capital Management LLC’s holdings in Madison Square Garden Sports were worth $51,970,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MSGS. OFI Invest Asset Management acquired a new stake in Madison Square Garden Sports during the fourth quarter worth approximately $1,032,000. Proficio Capital Partners LLC acquired a new stake in shares of Madison Square Garden Sports in the 4th quarter valued at about $3,413,000. Levin Capital Strategies L.P. grew its stake in Madison Square Garden Sports by 118.5% during the 4th quarter. Levin Capital Strategies L.P. now owns 3,039 shares of the company’s stock worth $686,000 after buying an additional 1,648 shares during the last quarter. Wealthfront Advisers LLC acquired a new position in Madison Square Garden Sports during the fourth quarter worth approximately $16,844,000. Finally, SG Americas Securities LLC acquired a new position in Madison Square Garden Sports during the fourth quarter worth approximately $685,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Wall Street Analyst Weigh In

MSGS has been the subject of several research analyst reports. Guggenheim reissued a “buy” rating and issued a $314.00 price objective on shares of Madison Square Garden Sports in a report on Tuesday, May 6th. Morgan Stanley decreased their target price on shares of Madison Square Garden Sports from $235.00 to $215.00 and set an “equal weight” rating for the company in a research note on Monday, May 5th. Macquarie upped 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. JPMorgan Chase & Co. decreased their price objective 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. Finally, Susquehanna began coverage on Madison Square Garden Sports in a report on Monday, April 28th. They issued a “positive” rating and a $254.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $252.60.

Insider Buying and Selling at Madison Square Garden Sports

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the stock in a transaction dated 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 directly 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 filing with the SEC, which can be accessed through this hyperlink. 18.05% of the stock is owned by insiders.

Madison Square Garden Sports Stock Performance

NYSE:MSGS opened at $196.88 on Friday. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 83.07 and a beta of 0.78. Madison Square Garden Sports Corp. has a 1 year low of $173.26 and a 1 year high of $237.99. The stock has a fifty day moving average price of $191.27 and a two-hundred day moving average price of $209.12.

Madison Square Garden Sports (NYSE:MSGS) last released its quarterly earnings results on Friday, May 2nd. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($2.07). The firm had revenue of $424.20 million during the quarter, compared to analyst estimates 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 business’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.57 EPS. On average, analysts predict that Madison Square Garden Sports Corp. will post 0.73 EPS 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.