Madison Square Garden Sports Corp. (NYSE:MSGS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 4.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,809 shares of the company's stock after selling 3,329 shares during the quarter. Principal Financial Group Inc. owned 0.33% of Madison Square Garden Sports worth $16,413,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in MSGS. Venturi Wealth Management LLC grew its position in Madison Square Garden Sports by 31.2% in the third 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 period. Blue Trust Inc. grew its position in shares of Madison Square Garden Sports by 326.5% during the third quarter. Blue Trust Inc. now owns 418 shares of the company's stock worth $87,000 after buying an additional 320 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Madison Square Garden Sports in the 3rd quarter valued at $119,000. Quent Capital LLC boosted its position in shares of Madison Square Garden Sports by 271.3% during the 3rd quarter. Quent Capital LLC now owns 609 shares of the company's stock worth $127,000 after acquiring an additional 445 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Madison Square Garden Sports by 142.6% in the third quarter. GAMMA Investing LLC now owns 638 shares of the company's stock valued at $133,000 after purchasing an additional 375 shares during the last quarter. Institutional investors and hedge funds own 68.94% of the company's stock.

Analysts Set New Price Targets

Separately, Macquarie lifted their price target on Madison Square Garden Sports from $235.00 to $240.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th.

Madison Square Garden Sports Stock Performance

MSGS stock traded down $0.62 during trading on Friday, reaching $221.10. 40,414 shares of the company were exchanged, compared to its average volume of 111,162. The stock's 50 day moving average price is $225.27 and its 200 day moving average price is $209.56. The company has a market cap of $5.30 billion, a P/E ratio of 75.98 and a beta of 0.91. Madison Square Garden Sports Corp. has a 52-week low of $176.27 and a 52-week high of $237.99.

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

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.