Prudential Financial Inc. Cuts Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

Prudential Financial Inc. lowered its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 10.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 43,616 shares of the company’s stock after selling 5,035 shares during the period. Prudential Financial Inc.’s holdings in Madison Square Garden Sports were worth $9,843,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allworth Financial LP raised its position in shares of Madison Square Garden Sports by 81.4% in the 4th quarter. Allworth Financial LP now owns 127 shares of the company’s stock worth $28,000 after acquiring an additional 57 shares in the last quarter. Fifth Third Bancorp raised its holdings in 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 in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Madison Square Garden Sports during the fourth quarter valued at about $43,000. Versant Capital Management Inc grew its position in shares of Madison Square Garden Sports by 35.3% in the 4th 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, Smartleaf Asset Management LLC raised its stake in shares of Madison Square Garden Sports by 423.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 272 shares of the company’s stock worth $62,000 after acquiring an additional 220 shares in the last quarter. Institutional investors own 68.94% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Macquarie lifted their price target 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.

Insider Transactions at Madison Square Garden Sports

In other 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 value of $6,044,204.00. Following the transaction, the insider now directly owns 5,097 shares of the company’s stock, valued at approximately $968,022.24. This represents 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 accessible through the SEC website. Insiders own 22.10% of the company’s stock.

Madison Square Garden Sports Stock Performance

Madison Square Garden Sports stock opened at $195.18 on Friday. The stock has a market cap of $4.69 billion, a PE ratio of 82.35 and a beta of 0.91. The stock has a 50-day moving average of $204.81 and a two-hundred day moving average of $214.57. Madison Square Garden Sports Corp. has a one year low of $178.35 and a one year high of $237.99.

Madison Square Garden Sports (NYSE:MSGS) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.25). The company had revenue of $357.80 million for the quarter, compared to analyst estimates of $352.68 million. Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. The business’s revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 EPS. As a group, sell-side analysts predict that Madison Square Garden Sports Corp. will post 0.73 EPS for the current fiscal year.

Madison Square Garden Sports 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.