Prudential Financial Inc. Trims Stake in Madison Square Garden Sports Corp. (NYSE:MSGS)

Prudential Financial Inc. decreased its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 10.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,616 shares of the company's stock after selling 5,035 shares during the quarter. Prudential Financial Inc. owned about 0.18% of Madison Square Garden Sports worth $9,843,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Madison Square Garden Sports by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 1,945,194 shares of the company's stock valued at $438,991,000 after buying an additional 33,641 shares during the last quarter. State Street Corp raised its stake in Madison Square Garden Sports by 1.2% during the 3rd quarter. State Street Corp now owns 549,108 shares of the company's stock valued at $114,357,000 after acquiring an additional 6,640 shares during the last quarter. Geode Capital Management LLC lifted its position in Madison Square Garden Sports by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 273,222 shares of the company's stock worth $56,916,000 after acquiring an additional 1,913 shares during the period. Systematic Financial Management LP grew its stake in shares of Madison Square Garden Sports by 13.3% in the 3rd quarter. Systematic Financial Management LP now owns 124,327 shares of the company's stock valued at $25,893,000 after purchasing an additional 14,591 shares during the last quarter. Finally, Empirical Asset Management LLC acquired a new position in shares of Madison Square Garden Sports in the fourth quarter valued at approximately $26,120,000. Institutional investors and hedge funds own 68.94% of the company's stock.

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Madison Square Garden Sports Stock Down 0.1 %

NYSE MSGS traded down $0.28 during trading hours on Wednesday, hitting $198.09. 17,136 shares of the stock were exchanged, compared to its average volume of 121,803. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 83.58 and a beta of 0.91. Madison Square Garden Sports Corp. has a 12-month low of $178.35 and a 12-month high of $237.99. The stock has a 50-day moving average of $203.93 and a 200 day moving average of $214.64.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.25). The company had revenue of $357.80 million for the quarter, compared to analysts' expectations of $352.68 million. Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. Madison Square Garden Sports's revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share. On average, equities research analysts expect that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current year.

Insider Buying and Selling 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 on 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 completion of the transaction, the insider now owns 5,097 shares in the company, valued at $968,022.24. This trade represents a 86.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 22.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Macquarie increased their price target on Madison Square Garden Sports from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Tuesday, February 25th.

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.