Madison Square Garden Sports Corp. (NYSE:MSGS) Insider Sells $6,044,204.00 in Stock

Madison Square Garden Sports Corp. (NYSE:MSGS - Get Free Report) insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the firm's 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 $968,022.24. This trade represents a 86.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Madison Square Garden Sports Stock Up 1.7 %

Shares of NYSE MSGS traded up $3.14 during midday trading on Friday, hitting $188.89. The company had a trading volume of 154,680 shares, compared to its average volume of 103,230. Madison Square Garden Sports Corp. has a twelve month low of $178.35 and a twelve month high of $237.99. The business has a 50-day simple moving average of $208.64 and a two-hundred day simple moving average of $215.33. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 79.70 and a beta of 0.91.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last posted its 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). Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. The business had revenue of $357.80 million for the quarter, compared to analysts' expectations of $352.68 million. During the same quarter last year, the business posted $0.59 earnings per share. The business's revenue was up 9.5% compared to the same quarter last year. On average, equities analysts forecast that Madison Square Garden Sports Corp. will post 0.73 EPS for the current year.

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Wall Street Analysts Forecast Growth

Separately, Macquarie raised their price objective 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.

Hedge Funds Weigh In On Madison Square Garden Sports

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Madison Square Garden Sports by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 1,945,194 shares of the company's stock valued at $438,991,000 after acquiring an additional 33,641 shares in the last quarter. State Street Corp grew its holdings in shares of Madison Square Garden Sports by 1.2% during the third quarter. State Street Corp now owns 549,108 shares of the company's stock worth $114,357,000 after buying an additional 6,640 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Madison Square Garden Sports by 1,854.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 498,607 shares of the company's stock worth $112,526,000 after buying an additional 473,090 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Madison Square Garden Sports by 0.7% during the third quarter. Geode Capital Management LLC now owns 273,222 shares of the company's stock worth $56,916,000 after buying an additional 1,913 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Madison Square Garden Sports by 16.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 255,339 shares of the company's stock worth $57,625,000 after buying an additional 36,799 shares in the last quarter. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

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.