Prudential Financial Inc. Sells 5,035 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Prudential Financial Inc. trimmed its stake in Madison Square Garden Sports Corp. (NYSE:MSGS) by 10.3% in the 4th quarter, according to its most recent 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 period. Prudential Financial Inc. owned approximately 0.18% of Madison Square Garden Sports worth $9,843,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Empirical Asset Management LLC purchased a new stake in Madison Square Garden Sports during the 4th quarter valued at $26,120,000. Wealthfront Advisers LLC purchased a new stake in shares of Madison Square Garden Sports in the fourth quarter valued at $16,844,000. Vanguard Group Inc. boosted its stake in shares of Madison Square Garden Sports by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 1,945,194 shares of the company’s stock worth $438,991,000 after purchasing an additional 33,641 shares during the period. Monimus Capital Management LP bought a new position in Madison Square Garden Sports during the 4th quarter valued at about $6,030,000. Finally, Tabor Asset Management LP purchased a new stake in Madison Square Garden Sports in the 3rd quarter worth about $5,558,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Madison Square Garden Sports Stock Down 1.8 %

MSGS stock opened at $195.18 on Friday. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 82.35 and a beta of 0.91. Madison Square Garden Sports Corp. has a twelve month low of $178.35 and a twelve month high of $237.99. The business’s fifty day simple moving average is $204.81 and its two-hundred day simple moving average is $214.57.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings data 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). The company had revenue of $357.80 million for the quarter, compared to the consensus estimate of $352.68 million. Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 EPS. Research analysts expect that Madison Square Garden Sports Corp. will post 0.73 EPS for the current year.

Insider Activity 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 transaction of $6,044,204.00. Following the transaction, the insider now owns 5,097 shares in the company, valued at approximately $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 accessible through this link. 22.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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