Madison Square Garden Sports Corp. (NYSE:MSGS) Insider Sells $6,044,204.00 in Stock

Madison Square Garden Sports Corp. (NYSE:MSGS) insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the business’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 approximately $968,022.24. This represents a 86.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Madison Square Garden Sports Stock Up 0.4 %

NYSE:MSGS traded up $0.82 during trading hours on Wednesday, reaching $188.57. The company had a trading volume of 107,779 shares, compared to its average volume of 103,201. Madison Square Garden Sports Corp. has a twelve month low of $178.35 and a twelve month high of $237.99. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 79.57 and a beta of 0.91. The business’s 50-day simple moving average is $210.82 and its two-hundred day simple moving average is $215.82.

Madison Square Garden Sports (NYSE:MSGS) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.05 earnings per share (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 for the quarter, compared to analyst estimates of $352.68 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, equities analysts predict that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Macquarie lifted 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 research note on Tuesday, February 25th.

Institutional Investors Weigh In On Madison Square Garden Sports

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Madison Square Garden Sports by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 1,945,194 shares of the company’s stock valued at $438,991,000 after acquiring an additional 33,641 shares during the last quarter. State Street Corp grew its holdings in Madison Square Garden Sports by 1.2% during the third quarter. State Street Corp now owns 549,108 shares of the company’s stock valued at $114,357,000 after purchasing an additional 6,640 shares during the period. T. Rowe Price Investment Management Inc. increased its position in Madison Square Garden Sports by 1,854.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 498,607 shares of the company’s stock worth $112,526,000 after buying an additional 473,090 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Madison Square Garden Sports by 0.7% in the third quarter. Geode Capital Management LLC now owns 273,222 shares of the company’s stock valued at $56,916,000 after buying an additional 1,913 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Madison Square Garden Sports by 16.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 255,339 shares of the company’s stock valued at $57,625,000 after buying an additional 36,799 shares during the last quarter. 68.94% of the stock is owned by institutional investors.

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.