Truist Financial Corp Trims Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Truist Financial Corp cut its holdings in shares of Madison Square Garden Sports Corp. (NYSE:MSGS – Get Rating) by 7.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,565 shares of the company’s stock after selling 123 shares during the quarter. Truist Financial Corp’s holdings in Madison Square Garden Sports were worth $281,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of MSGS. National Bank of Canada FI purchased a new position in Madison Square Garden Sports during the 4th quarter worth approximately $101,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Madison Square Garden Sports during the 4th quarter valued at approximately $513,000. Qube Research & Technologies Ltd purchased a new position in shares of Madison Square Garden Sports during the 4th quarter valued at approximately $1,604,000. First Bank & Trust increased its holdings in shares of Madison Square Garden Sports by 47.4% during the 4th quarter. First Bank & Trust now owns 861 shares of the company’s stock valued at $150,000 after purchasing an additional 277 shares in the last quarter. Finally, Grace Capital increased its holdings in shares of Madison Square Garden Sports by 2.4% during the 4th quarter. Grace Capital now owns 17,100 shares of the company’s stock valued at $1,792,000 after purchasing an additional 400 shares in the last quarter. 67.12% of the stock is owned by hedge funds and other institutional investors.

Madison Square Garden Sports Stock Performance

Shares of NYSE MSGS opened at $153.78 on Friday. The firm has a market cap of $3.73 billion, a PE ratio of 51.26 and a beta of 0.92. The firm has a fifty day moving average of $155.72 and a 200 day moving average of $164.33. Madison Square Garden Sports Corp. has a one year low of $145.41 and a one year high of $203.37.

Madison Square Garden Sports (NYSE:MSGS – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.34). The company had revenue of $337.80 million during the quarter, compared to analysts’ expectations of $332.95 million. Madison Square Garden Sports had a negative return on equity of 35.82% and a net margin of 9.28%. Madison Square Garden Sports’s revenue was up 84.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 EPS. On average, equities analysts predict that Madison Square Garden Sports Corp. will post 0.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MSGS. Macquarie cut their target price on shares of Madison Square Garden Sports from $240.00 to $230.00 and set an “outperform” rating for the company in a report on Tuesday, July 5th. Wolfe Research cut their target price on shares of Madison Square Garden Sports from $238.00 to $231.00 and set an “outperform” rating for the company in a report on Thursday, June 2nd. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $220.25.

About Madison Square Garden Sports

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Madison Square Garden Sports Corp. operates as a professional sports company. The company owns and operates a portfolio of assets consists of the New York Knickerbockers of the National Basketball Association NBA and the New York Rangers of the National Hockey League NHL. Its other professional franchises include two development league teams, the Hartford Wolf Pack of the American Hockey League (AHL) and the Westchester Knicks of the NBA G League (NBAGL).