Clearbridge Investments LLC Decreases Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

Clearbridge Investments LLC reduced its position in Madison Square Garden Sports Corp. (NYSE:MSGS) by 10.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 640,834 shares of the company’s stock after selling 74,159 shares during the period. Clearbridge Investments LLC’s holdings in Madison Square Garden Sports were worth $144,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of MSGS. Allworth Financial LP grew its stake in shares of Madison Square Garden Sports by 81.4% during the 4th quarter. Allworth Financial LP now owns 127 shares of the company’s stock valued at $28,000 after purchasing an additional 57 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Madison Square Garden Sports by 119.0% in the fourth quarter. Fifth Third Bancorp now owns 138 shares of the company’s stock worth $31,000 after buying an additional 75 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in Madison Square Garden Sports during the fourth quarter valued at approximately $43,000. Versant Capital Management Inc increased its holdings in Madison Square Garden Sports by 35.3% during the fourth quarter. Versant Capital Management Inc now owns 234 shares of the company’s stock valued at $53,000 after buying an additional 61 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Madison Square Garden Sports by 423.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 272 shares of the company’s stock worth $62,000 after acquiring an additional 220 shares during the period. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Sports Stock Down 1.8 %

Shares of MSGS opened at $195.18 on Monday. The business has a 50-day simple moving average of $204.81 and a two-hundred day simple moving average of $214.74. Madison Square Garden Sports Corp. has a 52 week low of $178.35 and a 52 week high of $237.99. The stock 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 (NYSE:MSGS) last released its earnings results on Tuesday, February 4th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.25). Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The firm had revenue of $357.80 million during the quarter, compared to analysts’ expectations of $352.68 million. During the same period in the prior year, the company posted $0.59 earnings per share. The company’s revenue was up 9.5% compared to the same quarter last year. On average, equities analysts anticipate that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current fiscal year.

Insider Activity

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the stock in a transaction dated 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 completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 22.10% of the company’s stock.

Analyst Ratings Changes

Separately, Macquarie boosted their price objective on shares of 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.