Alliancebernstein L.P. Sells 558 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Alliancebernstein L.P. lowered its position in Madison Square Garden Sports Corp. (NYSE:MSGS) by 6.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,919 shares of the company’s stock after selling 558 shares during the period. Alliancebernstein L.P.’s holdings in Madison Square Garden Sports were worth $1,787,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC raised its stake in shares of Madison Square Garden Sports by 11.3% in the third quarter. FMR LLC now owns 1,669 shares of the company’s stock worth $348,000 after acquiring an additional 169 shares during the last quarter. Barclays PLC grew its stake in shares of Madison Square Garden Sports by 8.4% during the third quarter. Barclays PLC now owns 14,668 shares of the company’s stock valued at $3,056,000 after purchasing an additional 1,131 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Madison Square Garden Sports by 0.7% in the third quarter. Geode Capital Management LLC now owns 273,222 shares of the company’s stock valued at $56,916,000 after purchasing an additional 1,913 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Madison Square Garden Sports in the 3rd quarter worth approximately $264,000. Finally, Franklin Resources Inc. lifted its holdings in Madison Square Garden Sports by 1.3% during the 3rd quarter. Franklin Resources Inc. now owns 99,847 shares of the company’s stock worth $21,706,000 after buying an additional 1,326 shares in the last quarter. 68.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Madison Square Garden Sports

In other news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $189.92, for a total transaction of $6,044,204.00. Following the sale, the insider now owns 5,097 shares of the company’s stock, valued at $968,022.24. This trade represents a 86.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 22.10% of the company’s stock.

Madison Square Garden Sports Trading Up 1.4 %

Madison Square Garden Sports stock opened at $191.52 on Friday. Madison Square Garden Sports Corp. has a 1 year low of $173.26 and a 1 year high of $237.99. The company’s 50-day moving average is $195.93 and its two-hundred day moving average is $212.53. The company has a market cap of $4.60 billion, a PE ratio of 80.81 and a beta of 0.81.

Madison Square Garden Sports (NYSE:MSGS) last released its earnings results on Tuesday, February 4th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.25). Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The business had revenue of $357.80 million for the quarter, compared to analyst estimates of $352.68 million. During the same period in the prior year, the firm posted $0.59 EPS. Madison Square Garden Sports’s revenue was up 9.5% on a year-over-year basis. Research analysts forecast that Madison Square Garden Sports Corp. will post 0.73 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Macquarie lifted 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 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.