The Manufacturers Life Insurance Company Sells 11,069 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

The Manufacturers Life Insurance Company lessened its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 4.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 218,540 shares of the company's stock after selling 11,069 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.91% of Madison Square Garden Sports worth $45,513,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MSGS. EverSource Wealth Advisors LLC increased its holdings in shares of Madison Square Garden Sports by 80.6% in the first quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company's stock worth $42,000 after purchasing an additional 100 shares during the period. Venturi Wealth Management LLC increased its stake in Madison Square Garden Sports by 31.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 223 shares of the company's stock worth $46,000 after acquiring an additional 53 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Madison Square Garden Sports by 179.8% in the 2nd quarter. GAMMA Investing LLC now owns 263 shares of the company's stock valued at $49,000 after acquiring an additional 169 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Madison Square Garden Sports by 326.5% during the 3rd quarter. Blue Trust Inc. now owns 418 shares of the company's stock valued at $87,000 after acquiring an additional 320 shares during the last quarter. Finally, Dnca Finance purchased a new position in shares of Madison Square Garden Sports during the second quarter worth about $113,000. 68.94% of the stock is currently owned by institutional investors.

Madison Square Garden Sports Stock Up 0.4 %

Shares of NYSE MSGS traded up $0.84 during mid-day trading on Friday, reaching $229.95. 31,144 shares of the company were exchanged, compared to its average volume of 114,057. Madison Square Garden Sports Corp. has a 52 week low of $167.08 and a 52 week high of $232.58. The company's 50 day moving average price is $218.96 and its 200 day moving average price is $203.31. The stock has a market capitalization of $5.51 billion, a PE ratio of 78.73 and a beta of 0.92.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.86) by $0.55. The firm had revenue of $53.31 million during the quarter, compared to analyst estimates of $43.71 million. Madison Square Garden Sports had a negative return on equity of 23.81% and a net margin of 6.75%. The company's revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.79) earnings per share. On average, sell-side analysts predict that Madison Square Garden Sports Corp. will post 0.81 earnings per share for the current year.

Analyst Ratings Changes

Separately, Macquarie raised their target price on shares of Madison Square Garden Sports from $235.00 to $240.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th.

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.