Clearbridge Investments LLC Sells 74,159 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Clearbridge Investments LLC trimmed its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 10.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 640,834 shares of the company’s stock after selling 74,159 shares during the quarter. Clearbridge Investments LLC owned approximately 2.68% of Madison Square Garden Sports worth $144,623,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MSGS. State Street Corp lifted its stake in shares of Madison Square Garden Sports by 1.2% in the 3rd 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. OFI Invest Asset Management purchased a new position in Madison Square Garden Sports during the fourth quarter valued at $1,032,000. Proficio Capital Partners LLC purchased a new position in Madison Square Garden Sports during the fourth quarter valued at $3,413,000. Levin Capital Strategies L.P. grew its position in shares of Madison Square Garden Sports by 118.5% in 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 period. Finally, Wealthfront Advisers LLC bought a new position in shares of Madison Square Garden Sports in the 4th quarter worth about $16,844,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Madison Square Garden Sports Stock Down 1.8 %

MSGS stock opened at $195.18 on Monday. The business has a 50 day moving average of $204.81 and a 200 day moving average of $214.74. The firm has a market cap of $4.69 billion, a PE ratio of 82.35 and a beta of 0.91. Madison Square Garden Sports Corp. has a twelve month low of $178.35 and a twelve month high of $237.99.

Madison Square Garden Sports (NYSE:MSGS) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.05 earnings per share 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 the consensus estimate of $352.68 million. Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. Madison Square Garden Sports’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 earnings per share. On average, research analysts expect that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Madison Square Garden Sports news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of Madison Square Garden Sports stock in a transaction 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 completion of the sale, the insider now owns 5,097 shares of the company’s stock, valued at approximately $968,022.24. This trade represents a 86.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 22.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Macquarie upped their price objective 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.

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.