Vanguard Group Inc. Boosts Stock Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

Vanguard Group Inc. increased its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,945,194 shares of the company’s stock after buying an additional 33,641 shares during the period. Vanguard Group Inc. owned 0.08% of Madison Square Garden Sports worth $438,991,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Madison Square Garden Sports by 1.2% in the third quarter. State Street Corp now owns 549,108 shares of the company’s stock worth $114,357,000 after acquiring an additional 6,640 shares during the period. Geode Capital Management LLC raised its holdings in Madison Square Garden Sports by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 273,222 shares of the company’s stock worth $56,916,000 after purchasing an additional 1,913 shares during the period. Systematic Financial Management LP boosted its position in Madison Square Garden Sports by 13.3% during the third quarter. Systematic Financial Management LP now owns 124,327 shares of the company’s stock worth $25,893,000 after purchasing an additional 14,591 shares in the last quarter. Empirical Asset Management LLC acquired a new stake in Madison Square Garden Sports in the fourth quarter valued at approximately $26,120,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Madison Square Garden Sports by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 115,530 shares of the company’s stock valued at $26,073,000 after buying an additional 3,675 shares in the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

Madison Square Garden Sports Stock Up 1.8 %

MSGS stock opened at $198.24 on Wednesday. Madison Square Garden Sports Corp. has a 52 week low of $178.35 and a 52 week high of $237.99. The firm has a 50-day simple moving average of $203.93 and a 200-day simple moving average of $214.64. The stock has a market capitalization of $4.76 billion, a P/E ratio of 83.65 and a beta of 0.91.

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

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 company an “outperform” rating in a research note on Tuesday, February 25th.

Insider Activity at Madison Square Garden Sports

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the company’s stock in a transaction dated 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 owns 5,097 shares of the company’s stock, 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 accessible through the SEC website. 22.10% of the stock is owned by corporate insiders.

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.