Madison Square Garden Sports Corp. (NYSE:MSGS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in Madison Square Garden Sports Corp. (NYSE:MSGS) by 54.6% during the 4th quarter, HoldingsChannel reports. The fund owned 27,022 shares of the company’s stock after selling 32,500 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Madison Square Garden Sports were worth $4,913,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in Madison Square Garden Sports by 738.1% in the first quarter. Tower Research Capital LLC TRC now owns 176 shares of the company’s stock valued at $34,000 after acquiring an additional 155 shares in the last quarter. State of Wyoming acquired a new stake in shares of Madison Square Garden Sports during the fourth quarter worth $34,000. Harbour Investments Inc. raised its holdings in shares of Madison Square Garden Sports by 42.9% during the first quarter. Harbour Investments Inc. now owns 233 shares of the company’s stock worth $45,000 after purchasing an additional 70 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Madison Square Garden Sports during the second quarter worth $49,000. Finally, NBC Securities Inc. acquired a new stake in shares of Madison Square Garden Sports during the third quarter worth $62,000. 68.94% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden Sports Stock Performance

Shares of NYSE:MSGS opened at $179.89 on Friday. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 113.14 and a beta of 0.94. Madison Square Garden Sports Corp. has a 1-year low of $164.79 and a 1-year high of $215.79. The company’s fifty day moving average is $185.30 and its two-hundred day moving average is $179.83.

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

Insiders Place Their Bets

In other Madison Square Garden Sports news, COO David G. Hopkinson sold 937 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $192.21, for a total transaction of $180,100.77. Following the sale, the chief operating officer now directly owns 2,385 shares of the company’s stock, valued at $458,420.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman James Lawrence Dolan sold 19,003 shares of the company’s stock in a transaction dated 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 in the company, valued at $34,290,913.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO David G. Hopkinson sold 937 shares of the company’s stock in a transaction dated 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 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 three months, insiders have sold 46,176 shares of company stock valued at $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.