Madison Square Garden Sports Corp. (NYSE:MSGS) Position Trimmed by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS) by 4.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,862 shares of the company’s stock after selling 624 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Madison Square Garden Sports were worth $2,608,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of MSGS. Treasurer of the State of North Carolina boosted its holdings in shares of Madison Square Garden Sports by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 8,245 shares of the company’s stock worth $1,499,000 after buying an additional 80 shares during the period. Arizona State Retirement System lifted its position in shares of Madison Square Garden Sports by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 4,349 shares of the company’s stock valued at $818,000 after acquiring an additional 83 shares in the last quarter. Pullen Investment Management LLC boosted its stake in Madison Square Garden Sports by 2.3% in the 2nd quarter. Pullen Investment Management LLC now owns 4,419 shares of the company’s stock worth $831,000 after purchasing an additional 98 shares during the period. Swiss National Bank grew its position in Madison Square Garden Sports by 0.3% during the 1st quarter. Swiss National Bank now owns 30,633 shares of the company’s stock worth $5,652,000 after purchasing an additional 100 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Madison Square Garden Sports by 80.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock valued at $42,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 68.94% of the company’s stock.

Insider Buying and Selling

In other news, CEO James Lawrence Dolan sold 629 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $209.30, for a total transaction of $131,649.70. Following the completion of the sale, the chief executive officer now directly owns 10,192 shares of the company’s stock, valued at approximately $2,133,185.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.28% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Macquarie lowered their price target on Madison Square Garden Sports from $240.00 to $235.00 and set an “outperform” rating on the stock in a report on Friday, August 16th.

Madison Square Garden Sports Price Performance

Shares of MSGS opened at $208.26 on Tuesday. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of 212.51 and a beta of 0.94. The business’s 50-day moving average is $202.79 and its 200-day moving average is $192.50. Madison Square Garden Sports Corp. has a fifty-two week low of $164.79 and a fifty-two week high of $213.26.

Madison Square Garden Sports (NYSE:MSGS) last released its quarterly earnings data on Tuesday, August 13th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.73. Madison Square Garden Sports had a net margin of 5.72% and a negative return on equity of 18.69%. The firm had revenue of $227.25 million for the quarter, compared to analyst estimates of $167.71 million. During the same quarter in the prior year, the business earned ($0.39) EPS. The company’s revenue for the quarter was up 79.1% compared to the same quarter last year. Equities research analysts expect that Madison Square Garden Sports Corp. will post 1.39 earnings per share for the current fiscal year.

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.