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 company’s stock in a transaction that occurred on Monday, March 10th. The shares were 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 of the company’s stock, valued at $968,022.24. The trade was a 86.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Madison Square Garden Sports Stock Performance

Shares of NYSE:MSGS opened at $188.89 on Friday. Madison Square Garden Sports Corp. has a 52 week low of $178.35 and a 52 week high of $237.99. The company has a market capitalization of $4.54 billion, a PE ratio of 79.70 and a beta of 0.91. The company has a 50 day moving average price of $208.64 and a two-hundred day moving average price of $215.29.

Madison Square Garden Sports (NYSE:MSGS) last released 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 during 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 firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 EPS. On average, sell-side analysts forecast that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Advisors Capital Management LLC boosted its holdings in shares of Madison Square Garden Sports by 0.5% in the fourth quarter. Advisors Capital Management LLC now owns 10,606 shares of the company’s stock valued at $2,394,000 after buying an additional 48 shares during the period. Treasurer of the State of North Carolina boosted its holdings in shares of Madison Square Garden Sports by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 8,172 shares of the company’s stock valued at $1,844,000 after buying an additional 50 shares during the period. Venturi Wealth Management LLC boosted its holdings in Madison Square Garden Sports by 31.2% during the third quarter. Venturi Wealth Management LLC now owns 223 shares of the company’s stock worth $46,000 after purchasing an additional 53 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Madison Square Garden Sports by 9.2% during the fourth quarter. Quadrant Capital Group LLC now owns 650 shares of the company’s stock worth $147,000 after purchasing an additional 55 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in Madison Square Garden Sports by 81.4% during the fourth quarter. Allworth Financial LP now owns 127 shares of the company’s stock worth $28,000 after purchasing an additional 57 shares during the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Macquarie upped 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 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.