Madison Square Garden Sports Corp. (NYSE:MSGS) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC cut its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS) by 85.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,841 shares of the company’s stock after selling 10,992 shares during the period. Bleakley Financial Group LLC’s holdings in Madison Square Garden Sports were worth $383,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Creative Planning raised its stake in Madison Square Garden Sports by 2.5% in the third quarter. Creative Planning now owns 2,542 shares of the company’s stock valued at $529,000 after buying an additional 61 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Madison Square Garden Sports during the third quarter worth about $1,743,000. Herbst Group LLC acquired a new stake in shares of Madison Square Garden Sports during the third quarter worth about $2,792,000. GAMMA Investing LLC increased its position in shares of Madison Square Garden Sports by 142.6% during the third quarter. GAMMA Investing LLC now owns 638 shares of the company’s stock worth $133,000 after purchasing an additional 375 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of Madison Square Garden Sports by 20.9% during the third quarter. Handelsbanken Fonder AB now owns 3,472 shares of the company’s stock worth $723,000 after purchasing an additional 600 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Madison Square Garden Sports

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

Analyst Upgrades and Downgrades

Separately, Macquarie cut their target price on 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.

Madison Square Garden Sports Stock Up 0.8 %

NYSE MSGS opened at $218.88 on Wednesday. Madison Square Garden Sports Corp. has a 52-week low of $164.79 and a 52-week high of $221.50. The business’s 50-day moving average price is $209.24 and its 200 day moving average price is $196.18. The firm has a market cap of $5.24 billion, a P/E ratio of 223.35 and a beta of 0.93.

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