Victory Capital Management Inc. Cuts Stake in Madison Square Garden Sports Corp. (NYSE:MSGS)

Victory Capital Management Inc. reduced its stake in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,811 shares of the company's stock after selling 2,261 shares during the period. Victory Capital Management Inc. owned approximately 0.23% of Madison Square Garden Sports worth $12,595,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MSGS. Allworth Financial LP lifted its holdings in shares of Madison Square Garden Sports by 81.4% during the fourth quarter. Allworth Financial LP now owns 127 shares of the company's stock valued at $28,000 after purchasing an additional 57 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Madison Square Garden Sports by 119.0% during the fourth quarter. Fifth Third Bancorp now owns 138 shares of the company's stock valued at $31,000 after purchasing an additional 75 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of Madison Square Garden Sports during the fourth quarter valued at $43,000. Venturi Wealth Management LLC lifted its holdings in shares of Madison Square Garden Sports by 31.2% during the third quarter. Venturi Wealth Management LLC now owns 223 shares of the company's stock valued at $46,000 after purchasing an additional 53 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Madison Square Garden Sports by 35.3% during the fourth quarter. Versant Capital Management Inc now owns 234 shares of the company's stock valued at $53,000 after purchasing an additional 61 shares in the last quarter. 68.94% of the stock is owned by institutional investors.

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Madison Square Garden Sports Trading Up 1.7 %

MSGS stock traded up $3.14 during trading on Friday, reaching $188.89. The stock had a trading volume of 154,680 shares, compared to its average volume of 103,230. Madison Square Garden Sports Corp. has a 52 week low of $178.35 and a 52 week high of $237.99. The stock's 50 day moving average is $208.64 and its two-hundred day moving average is $215.33. The firm has a market cap of $4.54 billion, a PE 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 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 firm had revenue of $357.80 million during the quarter, compared to the consensus estimate of $352.68 million. During the same period in the prior year, the company posted $0.59 EPS. The firm's revenue was up 9.5% compared to the same quarter last year. On average, research analysts anticipate that Madison Square Garden Sports Corp. will post 0.73 EPS for the current year.

Insider Transactions at Madison Square Garden Sports

In other news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the firm's stock in a transaction dated 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 22.10% of the company's stock.

Analysts Set New Price Targets

Separately, Macquarie upped their price target on Madison Square Garden Sports from $240.00 to $250.00 and gave the company an "outperform" rating in a 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.