Atria Wealth Solutions Inc. Trims Stake in Madison Square Garden Sports Corp. (NYSE:MSGS)

Atria Wealth Solutions Inc. lessened its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 4.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,650 shares of the company’s stock after selling 70 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Madison Square Garden Sports were worth $300,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Madison Square Garden Sports by 7.5% during the third quarter. Vanguard Group Inc. now owns 1,867,989 shares of the company’s stock worth $329,326,000 after buying an additional 130,745 shares during the period. Gabelli Funds LLC grew its stake in shares of Madison Square Garden Sports by 0.3% in the 3rd quarter. Gabelli Funds LLC now owns 410,455 shares of the company’s stock valued at $72,363,000 after purchasing an additional 1,210 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Madison Square Garden Sports by 7.8% in the third quarter. Northern Trust Corp now owns 226,994 shares of the company’s stock valued at $40,019,000 after purchasing an additional 16,497 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Madison Square Garden Sports by 92.9% during the third quarter. Bank of New York Mellon Corp now owns 137,585 shares of the company’s stock worth $24,256,000 after purchasing an additional 66,272 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its holdings in shares of Madison Square Garden Sports by 0.9% during the fourth quarter. Pinnacle Associates Ltd. now owns 132,762 shares of the company’s stock worth $24,140,000 after purchasing an additional 1,222 shares during the period. Institutional investors and hedge funds own 68.94% of the company’s stock.

Madison Square Garden Sports Stock Performance

Shares of MSGS opened at $190.76 on Thursday. The stock has a market capitalization of $4.57 billion, a P/E ratio of 192.78 and a beta of 0.92. 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 $184.36 and its two-hundred day moving average is $180.67.

Madison Square Garden Sports (NYSE:MSGS) last issued its earnings results on Thursday, May 2nd. The company reported $1.57 earnings per share for the quarter, missing the consensus estimate of $2.78 by ($1.21). The firm had revenue of $430.00 million during the quarter, compared to analysts’ expectations of $420.76 million. Madison Square Garden Sports had a net margin of 2.59% and a negative return on equity of 7.23%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.18 EPS. Sell-side analysts predict that Madison Square Garden Sports Corp. will post 2.11 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman James Lawrence Dolan sold 8,236 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $190.25, for a total value of $1,566,899.00. Following the completion of the sale, the chairman now directly owns 221,586 shares of the company’s stock, valued at approximately $42,156,736.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 45,239 shares of company stock worth $8,481,692. Company insiders own 22.28% of the company’s stock.

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 two development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.