River Road Asset Management LLC Cuts Stock Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

River Road Asset Management LLC decreased its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 2.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 35,021 shares of the company’s stock after selling 851 shares during the period. River Road Asset Management LLC’s holdings in Madison Square Garden Sports were worth $6,368,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its holdings in Madison Square Garden Sports by 738.1% in the first quarter. Tower Research Capital LLC TRC now owns 176 shares of the company’s stock worth $34,000 after purchasing an additional 155 shares during the last quarter. State of Wyoming purchased a new stake in Madison Square Garden Sports in the fourth quarter worth approximately $34,000. Harbour Investments Inc. boosted its holdings in Madison Square Garden Sports by 42.9% in the first quarter. Harbour Investments Inc. now owns 233 shares of the company’s stock worth $45,000 after purchasing an additional 70 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Madison Square Garden Sports in the second quarter worth approximately $49,000. Finally, NBC Securities Inc. purchased a new stake in Madison Square Garden Sports in the third quarter worth approximately $62,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Insiders Place Their Bets

In other Madison Square Garden Sports news, Chairman James Lawrence Dolan sold 18,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $185.88, for a total value of $3,345,840.00. Following the transaction, the chairman now directly owns 164,583 shares in the company, valued at $30,592,688.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO David G. Hopkinson sold 937 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $192.21, for a total transaction of $180,100.77. Following the sale, the chief operating officer now directly owns 2,385 shares in the company, valued at approximately $458,420.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman James Lawrence Dolan sold 18,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $185.88, for a total transaction of $3,345,840.00. Following the sale, the chairman now owns 164,583 shares in the company, valued at $30,592,688.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,176 shares of company stock worth $8,661,793. Company insiders own 22.28% of the company’s stock.

Madison Square Garden Sports Trading Down 0.9 %

Shares of MSGS stock opened at $178.87 on Thursday. Madison Square Garden Sports Corp. has a 12-month low of $164.79 and a 12-month high of $215.79. The firm’s 50 day moving average is $185.76 and its 200 day moving average is $179.80. The stock has a market capitalization of $4.28 billion, a P/E ratio of 112.50 and a beta of 0.94.

Madison Square Garden Sports (NYSE:MSGS) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.22. Madison Square Garden Sports had a net margin of 4.38% and a negative return on equity of 11.27%. The business had revenue of $326.90 million for the quarter, compared to the consensus estimate of $325.86 million. During the same period last year, the firm earned $0.84 earnings per share. The company’s quarterly revenue was down 7.6% on a year-over-year basis. As a group, equities analysts predict that Madison Square Garden Sports Corp. will post 2.11 earnings per share 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 two development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.