River Road Asset Management LLC Sells 8,584 Shares of 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 25.8% during the third quarter, HoldingsChannel reports. The fund owned 24,713 shares of the company’s stock after selling 8,584 shares during the quarter. River Road Asset Management LLC’s holdings in Madison Square Garden Sports were worth $5,147,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of MSGS. Norden Group LLC bought a new position in Madison Square Garden Sports during the first quarter valued at $555,000. FORA Capital LLC bought a new position in shares of Madison Square Garden Sports in the first quarter worth about $361,000. Texas Permanent School Fund Corp grew its holdings in shares of Madison Square Garden Sports by 1.5% in the first quarter. Texas Permanent School Fund Corp now owns 14,614 shares of the company’s stock worth $2,697,000 after purchasing an additional 222 shares during the last quarter. Duality Advisers LP bought a new position in shares of Madison Square Garden Sports in the first quarter worth about $690,000. Finally, Swiss National Bank grew its holdings in shares of Madison Square Garden Sports by 0.3% in the first quarter. Swiss National Bank now owns 30,633 shares of the company’s stock worth $5,652,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 68.94% of the company’s stock.

Analysts Set New Price Targets

Separately, Macquarie upped their price target on shares of Madison Square Garden Sports from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Tuesday.

Insider Buying and Selling

In related news, CEO James Lawrence Dolan sold 629 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $209.30, for a total value of $131,649.70. Following the completion of the sale, the chief executive officer now directly owns 10,192 shares of the company’s stock, valued at $2,133,185.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 22.10% of the stock is owned by insiders.

Madison Square Garden Sports Price Performance

NYSE:MSGS opened at $217.86 on Wednesday. Madison Square Garden Sports Corp. has a 1-year low of $166.26 and a 1-year high of $227.66. The company has a 50-day moving average of $211.97 and a 200 day moving average of $198.59. The firm has a market cap of $5.22 billion, a PE ratio of 74.87 and a beta of 0.92.

Madison Square Garden Sports (NYSE:MSGS) last released its quarterly earnings data on Friday, November 1st. The company reported ($0.31) earnings per share 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 analyst estimates of $43.71 million. During the same period in the prior year, the firm earned ($0.79) earnings per share. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. Sell-side analysts anticipate that Madison Square Garden Sports Corp. will post 1.42 EPS 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.