Madison Square Garden Sports Corp. (NYSE:MSGS) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS) by 7.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 68,834 shares of the company’s stock after selling 5,233 shares during the period. Wellington Management Group LLP owned 0.29% of Madison Square Garden Sports worth $15,534,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in shares of Madison Square Garden Sports by 81.4% during the 4th quarter. Allworth Financial LP now owns 127 shares of the company’s stock worth $28,000 after purchasing an additional 57 shares in the last quarter. Versant Capital Management Inc increased 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 worth $53,000 after buying an additional 61 shares in the last quarter. Fifth Third Bancorp raised its holdings 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 acquiring an additional 75 shares during the last quarter. Xponance Inc. lifted its position in shares of Madison Square Garden Sports by 8.4% in the fourth quarter. Xponance Inc. now owns 1,105 shares of the company’s stock valued at $249,000 after acquiring an additional 86 shares in the last quarter. Finally, Central Pacific Bank Trust Division boosted its stake in shares of Madison Square Garden Sports by 2.0% during the fourth quarter. Central Pacific Bank Trust Division now owns 5,100 shares of the company’s stock valued at $1,151,000 after acquiring an additional 100 shares during the last quarter. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Macquarie boosted their target price on shares of 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.

Madison Square Garden Sports Stock Performance

Shares of NYSE MSGS opened at $175.43 on Wednesday. The firm has a market cap of $4.21 billion, a P/E ratio of 74.02 and a beta of 0.81. Madison Square Garden Sports Corp. has a 1 year low of $173.26 and a 1 year high of $237.99. The firm’s 50 day moving average price is $199.62 and its 200 day moving average price is $213.59.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.25). 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 $357.80 million during the quarter, compared to analysts’ expectations of $352.68 million. During the same period in the prior year, the firm earned $0.59 EPS. Madison Square Garden Sports’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities analysts predict that Madison Square Garden Sports Corp. will post 0.73 EPS for the current year.

Insider Activity

In other 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 completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 22.10% 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.