Bank of New York Mellon Corp Sells 1,950 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Bank of New York Mellon Corp lessened its position in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 1.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 110,138 shares of the company's stock after selling 1,950 shares during the period. Bank of New York Mellon Corp owned approximately 0.46% of Madison Square Garden Sports worth $24,856,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. State Street Corp boosted its stake in shares of Madison Square Garden Sports by 1.2% during the 3rd 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 valued at $56,916,000 after purchasing an additional 1,913 shares during the period. Systematic Financial Management LP raised its holdings in Madison Square Garden Sports by 13.3% during the 3rd quarter. Systematic Financial Management LP now owns 124,327 shares of the company's stock worth $25,893,000 after buying an additional 14,591 shares during the period. Empirical Asset Management LLC purchased a new stake in Madison Square Garden Sports during the fourth quarter valued at about $26,120,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Madison Square Garden Sports by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 111,855 shares of the company's stock worth $23,295,000 after buying an additional 3,784 shares during the period. Institutional investors and hedge funds own 68.94% of the company's stock.

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Insider Activity

In related 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 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 trade represents 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 accessible through the SEC website. 22.10% of the stock is currently owned by corporate insiders.

Madison Square Garden Sports Trading Down 1.4 %

NYSE MSGS traded down $2.60 during trading on Thursday, reaching $185.85. 130,671 shares of the company's stock were exchanged, compared to its average volume of 103,485. The firm has a market capitalization of $4.46 billion, a PE ratio of 78.42 and a beta of 0.91. Madison Square Garden Sports Corp. has a fifty-two week low of $178.35 and a fifty-two week high of $237.99. The company's fifty day simple moving average is $210.08 and its 200-day simple moving average is $215.63.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.25). 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 $357.80 million for the quarter, compared to analysts' expectations of $352.68 million. During the same period in the previous year, the firm posted $0.59 earnings per share. The business's revenue for the quarter was up 9.5% on a year-over-year basis. Equities analysts forecast that Madison Square Garden Sports Corp. will post 0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Macquarie upped 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 report 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.