Madison Square Garden Sports Corp. (NYSE:MSGS) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in Madison Square Garden Sports Corp. (NYSE:MSGS) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,540 shares of the company’s stock after selling 11,069 shares during the period. The Manufacturers Life Insurance Company owned 0.91% of Madison Square Garden Sports worth $45,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of MSGS. Venturi Wealth Management LLC boosted its stake 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 worth $46,000 after buying an additional 53 shares during the period. Creative Planning boosted its stake in shares of Madison Square Garden Sports by 2.5% during the third quarter. Creative Planning now owns 2,542 shares of the company’s stock worth $529,000 after buying an additional 61 shares during the period. Arizona State Retirement System boosted its stake in shares of Madison Square Garden Sports by 1.9% during the second quarter. Arizona State Retirement System now owns 4,349 shares of the company’s stock worth $818,000 after buying an additional 83 shares during the period. Pullen Investment Management LLC boosted its stake in shares of Madison Square Garden Sports by 2.3% during the second quarter. Pullen Investment Management LLC now owns 4,419 shares of the company’s stock worth $831,000 after buying an additional 98 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Madison Square Garden Sports by 80.6% during the first quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock worth $42,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 68.94% of the company’s stock.

Analysts Set New Price Targets

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

Madison Square Garden Sports Stock Down 0.5 %

NYSE MSGS opened at $229.11 on Friday. The stock has a market capitalization of $5.49 billion, a P/E ratio of 78.73 and a beta of 0.92. Madison Square Garden Sports Corp. has a 52-week low of $166.26 and a 52-week high of $232.58. The firm has a 50-day moving average price of $218.96 and a 200 day moving average price of $203.31.

Madison Square Garden Sports (NYSE:MSGS) last posted 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 analysts’ expectations of $43.71 million. Madison Square Garden Sports had a net margin of 6.75% and a negative return on equity of 23.81%. The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.79) earnings per share. On average, equities research analysts expect that Madison Square Garden Sports Corp. will post 0.81 earnings per share for the current fiscal year.

Madison Square Garden Sports 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.