Truist Financial Corp Sells 191 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Truist Financial Corp lessened its position in Madison Square Garden Sports Corp. (NYSE:MSGS) by 8.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,060 shares of the company’s stock after selling 191 shares during the quarter. Truist Financial Corp’s holdings in Madison Square Garden Sports were worth $465,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in Madison Square Garden Sports by 1.2% during the 3rd quarter. State Street Corp now owns 549,108 shares of the company’s stock valued at $114,357,000 after buying an additional 6,640 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Madison Square Garden Sports by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 273,222 shares of the company’s stock valued at $56,916,000 after buying an additional 1,913 shares in the last quarter. Systematic Financial Management LP lifted its holdings in Madison Square Garden Sports by 13.3% during the 3rd quarter. Systematic Financial Management LP now owns 124,327 shares of the company’s stock valued at $25,893,000 after buying an additional 14,591 shares in the last quarter. Empirical Asset Management LLC bought a new stake in Madison Square Garden Sports during the 4th quarter valued at about $26,120,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Madison Square Garden Sports by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 111,855 shares of the company’s stock valued at $23,295,000 after buying an additional 3,784 shares in the last quarter. Institutional investors own 68.94% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Macquarie lifted 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 report on Tuesday, February 25th.

Madison Square Garden Sports Stock Performance

NYSE MSGS opened at $201.57 on Tuesday. The company’s 50-day simple moving average is $214.18 and its two-hundred day simple moving average is $216.31. Madison Square Garden Sports Corp. has a one year low of $178.35 and a one year high of $237.99. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 85.05 and a beta of 0.91.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.05 earnings per share 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 business had revenue of $357.80 million during the quarter, compared to analysts’ expectations of $352.68 million. During the same period in the previous year, the company posted $0.59 EPS. Madison Square Garden Sports’s revenue for the quarter was up 9.5% on a year-over-year basis. Equities analysts expect that Madison Square Garden Sports Corp. will post 0.73 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.