Arizona State Retirement System Trims Stock Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Arizona State Retirement System trimmed its holdings in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,331 shares of the company’s stock after selling 79 shares during the quarter. Arizona State Retirement System’s holdings in Madison Square Garden Sports were worth $788,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MSGS. JPMorgan Chase & Co. increased its holdings in Madison Square Garden Sports by 39.1% during the first quarter. JPMorgan Chase & Co. now owns 47,202 shares of the company’s stock valued at $8,467,000 after buying an additional 13,267 shares during the period. Raymond James & Associates boosted its stake in Madison Square Garden Sports by 160.6% in the first quarter. Raymond James & Associates now owns 3,174 shares of the company’s stock valued at $569,000 after acquiring an additional 1,956 shares in the last quarter. US Bancorp DE boosted its stake in Madison Square Garden Sports by 76.4% in the first quarter. US Bancorp DE now owns 614 shares of the company’s stock valued at $111,000 after acquiring an additional 266 shares in the last quarter. Citigroup Inc. boosted its stake in Madison Square Garden Sports by 98.6% in the first quarter. Citigroup Inc. now owns 2,951 shares of the company’s stock valued at $529,000 after acquiring an additional 1,465 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Madison Square Garden Sports by 16.1% in the first quarter. Bank of Montreal Can now owns 32,415 shares of the company’s stock valued at $5,822,000 after acquiring an additional 4,499 shares in the last quarter. 68.94% of the stock is owned by hedge funds and other institutional investors.

Madison Square Garden Sports Stock Down 0.9 %

Shares of MSGS opened at $178.87 on Thursday. The company has a market cap of $4.28 billion, a price-to-earnings ratio of 112.50 and a beta of 0.94. Madison Square Garden Sports Corp. has a twelve month low of $164.79 and a twelve month high of $215.79. The company has a 50 day moving average of $185.76 and a two-hundred day moving average of $179.80.

Madison Square Garden Sports (NYSE:MSGS) last announced its earnings results on Tuesday, February 6th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.22. Madison Square Garden Sports had a net margin of 4.38% and a negative return on equity of 11.27%. The company had revenue of $326.90 million during the quarter, compared to the consensus estimate of $325.86 million. During the same period last year, the firm earned $0.84 earnings per share. Madison Square Garden Sports’s revenue was down 7.6% compared to the same quarter last year. On average, sell-side analysts expect that Madison Square Garden Sports Corp. will post 2.11 EPS for the current year.

Insider Transactions at Madison Square Garden Sports

In other news, Chairman James Lawrence Dolan sold 19,003 shares of Madison Square Garden Sports stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $187.81, for a total transaction of $3,568,953.43. Following the completion of the sale, the chairman now directly owns 182,583 shares in the company, valued at $34,290,913.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Chairman James Lawrence Dolan sold 19,003 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $187.81, for a total transaction of $3,568,953.43. Following the completion of the transaction, the chairman now owns 182,583 shares of the company’s stock, valued at $34,290,913.23. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO David G. Hopkinson sold 937 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $192.21, for a total transaction of $180,100.77. Following the transaction, the chief operating officer now directly owns 2,385 shares of the company’s stock, valued at approximately $458,420.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,176 shares of company stock worth $8,661,793. Company insiders own 22.28% of the company’s stock.

Madison Square Garden Sports Company 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 two development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.