Truist Financial Corp Decreases Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

Truist Financial Corp trimmed its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 14.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,948 shares of the company’s stock after selling 326 shares during the period. Truist Financial Corp’s holdings in Madison Square Garden Sports were worth $366,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in Madison Square Garden Sports by 80.6% during the first quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock valued at $42,000 after purchasing an additional 100 shares in the last quarter. GAMMA Investing LLC boosted its position in Madison Square Garden Sports by 179.8% during the second quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock worth $49,000 after acquiring an additional 169 shares during the last quarter. Quent Capital LLC boosted its position in Madison Square Garden Sports by 312.4% during the first quarter. Quent Capital LLC now owns 565 shares of the company’s stock worth $104,000 after acquiring an additional 428 shares during the last quarter. BNP Paribas acquired a new position in Madison Square Garden Sports during the first quarter worth about $111,000. Finally, Dnca Finance acquired a new position in Madison Square Garden Sports during the second quarter worth about $113,000. 68.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Macquarie lowered their price target on shares of Madison Square Garden Sports from $240.00 to $235.00 and set an “outperform” rating on the stock in a research report on Friday, August 16th.

Insiders Place Their Bets

In other Madison Square Garden Sports news, CEO James Lawrence Dolan sold 629 shares of Madison Square Garden Sports stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $209.30, for a total transaction of $131,649.70. Following the transaction, the chief executive officer now directly owns 10,192 shares of the company’s stock, valued at $2,133,185.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 22.28% of the stock is owned by insiders.

Madison Square Garden Sports Trading Up 0.4 %

MSGS opened at $220.53 on Friday. The firm has a market capitalization of $5.28 billion, a PE ratio of 225.03 and a beta of 0.93. Madison Square Garden Sports Corp. has a twelve month low of $164.79 and a twelve month high of $221.50. The firm’s 50-day moving average price is $207.89 and its 200 day moving average price is $195.28.

Madison Square Garden Sports (NYSE:MSGS) last issued its earnings results on Tuesday, August 13th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.73. Madison Square Garden Sports had a net margin of 5.72% and a negative return on equity of 18.69%. The company had revenue of $227.25 million for the quarter, compared to the consensus estimate of $167.71 million. During the same period in the previous year, the firm earned ($0.39) earnings per share. Madison Square Garden Sports’s quarterly revenue was up 79.1% compared to the same quarter last year. As a group, analysts predict that Madison Square Garden Sports Corp. will post 1.42 earnings per share for the current fiscal 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 development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.