Bank of New York Mellon Corp Sells 1,950 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Bank of New York Mellon Corp lessened its stake in Madison Square Garden Sports Corp. (NYSE:MSGS) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,138 shares of the company’s stock after selling 1,950 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.46% of Madison Square Garden Sports worth $24,856,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Allworth Financial LP raised its stake in shares of Madison Square Garden Sports by 81.4% in the fourth quarter. Allworth Financial LP now owns 127 shares of the company’s stock valued at $28,000 after buying an additional 57 shares during the period. Fifth Third Bancorp raised its stake 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 valued at $31,000 after buying an additional 75 shares during the period. Heck Capital Advisors LLC bought a new stake in shares of Madison Square Garden Sports in the fourth quarter valued at $43,000. Venturi Wealth Management LLC raised its stake in shares of Madison Square Garden Sports by 31.2% in the third quarter. Venturi Wealth Management LLC now owns 223 shares of the company’s stock valued at $46,000 after buying an additional 53 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Madison Square Garden Sports by 35.3% in 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 period. Institutional investors own 68.94% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Macquarie boosted their target price on Madison Square Garden Sports from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th.

Madison Square Garden Sports Stock Performance

Shares of NYSE MSGS opened at $196.91 on Monday. The stock has a market cap of $4.73 billion, a PE ratio of 83.08 and a beta of 0.91. Madison Square Garden Sports Corp. has a fifty-two week low of $178.35 and a fifty-two week high of $237.99. The stock has a fifty day moving average of $212.36 and a 200-day moving average of $216.10.

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). The company had revenue of $357.80 million during the quarter, compared to analysts’ expectations of $352.68 million. Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. Madison Square Garden Sports’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 earnings per share. On average, sell-side analysts predict that Madison Square Garden Sports Corp. will post 0.73 EPS for the current 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.