Ariel Investments LLC Sells 26,425 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Ariel Investments LLC lessened its position in Madison Square Garden Sports Corp. (NYSE:MSGS) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 891,629 shares of the company’s stock after selling 26,425 shares during the period. Madison Square Garden Sports accounts for 2.1% of Ariel Investments LLC’s investment portfolio, making the stock its 17th biggest position. Ariel Investments LLC owned approximately 3.72% of Madison Square Garden Sports worth $201,223,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Allworth Financial LP increased its holdings in Madison Square Garden Sports by 81.4% during the 4th quarter. Allworth Financial LP now owns 127 shares of the company’s stock valued at $28,000 after purchasing an additional 57 shares during the period. Fifth Third Bancorp lifted its stake in Madison Square Garden Sports by 119.0% in the fourth quarter. Fifth Third Bancorp now owns 138 shares of the company’s stock worth $31,000 after acquiring an additional 75 shares during the period. Heck Capital Advisors LLC purchased a new position in Madison Square Garden Sports during the 4th quarter valued at $43,000. Versant Capital Management Inc lifted its position in shares of Madison Square Garden Sports by 35.3% in the 4th quarter. Versant Capital Management Inc now owns 234 shares of the company’s stock worth $53,000 after purchasing an additional 61 shares during the period. Finally, Headlands Technologies LLC increased its position in shares of Madison Square Garden Sports by 1,016.7% during the fourth quarter. Headlands Technologies LLC now owns 268 shares of the company’s stock valued at $60,000 after buying an additional 244 shares during the period. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Insider Buying and Selling at Madison Square Garden Sports

In other news, 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 value of $6,044,204.00. Following the completion of the transaction, the insider now owns 5,097 shares in the company, valued at $968,022.24. The trade was a 86.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 22.10% of the stock is owned by company insiders.

Madison Square Garden Sports Price Performance

Shares of NYSE MSGS opened at $187.79 on Friday. Madison Square Garden Sports Corp. has a 1 year low of $173.26 and a 1 year high of $237.99. The firm has a 50-day moving average of $192.36 and a 200 day moving average of $210.72. The stock has a market cap of $4.51 billion, a P/E ratio of 79.24 and a beta of 0.81.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings data on Friday, May 2nd. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($2.07). Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. The company had revenue of $424.20 million for the quarter, compared to analysts’ expectations of $436.84 million. During the same quarter in the previous year, the firm posted $1.57 EPS. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. Research analysts expect that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

MSGS has been the topic of several research reports. Susquehanna assumed coverage on Madison Square Garden Sports in a research report on Monday, April 28th. They set a “positive” rating and a $254.00 price objective on the stock. Macquarie upped their price target on 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.

Madison Square Garden Sports 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.