Ameriprise Financial Inc. Sells 2,342 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Ameriprise Financial Inc. lessened its position in Madison Square Garden Sports Corp. (NYSE:MSGS) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,716 shares of the company’s stock after selling 2,342 shares during the quarter. Ameriprise Financial Inc. owned 0.17% of Madison Square Garden Sports worth $9,189,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the stock. OFI Invest Asset Management bought a new stake in shares of Madison Square Garden Sports in the fourth quarter worth about $1,032,000. Proficio Capital Partners LLC bought a new stake in shares of Madison Square Garden Sports in the fourth quarter worth about $3,413,000. Levin Capital Strategies L.P. boosted its position in Madison Square Garden Sports by 118.5% during the 4th quarter. Levin Capital Strategies L.P. now owns 3,039 shares of the company’s stock valued at $686,000 after acquiring an additional 1,648 shares in the last quarter. Wealthfront Advisers LLC bought a new stake in Madison Square Garden Sports during the 4th quarter valued at approximately $16,844,000. Finally, SG Americas Securities LLC bought a new stake in Madison Square Garden Sports during the 4th quarter valued at approximately $685,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Insider Transactions at Madison Square Garden Sports

In other news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of Madison Square Garden Sports stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $189.92, for a total value of $6,044,204.00. Following the sale, the insider now owns 5,097 shares in the company, valued at $968,022.24. This trade represents a 86.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 18.05% of the company’s stock.

Analysts Set New Price Targets

MSGS has been the topic of several research reports. Morgan Stanley cut their price objective on Madison Square Garden Sports from $235.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Monday, May 5th. Macquarie lifted their target price on shares of Madison Square Garden Sports from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on shares of Madison Square Garden Sports from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Susquehanna started coverage on shares of Madison Square Garden Sports in a report on Monday, April 28th. They set a “positive” rating and a $254.00 target price for the company. Finally, Guggenheim reiterated a “buy” rating and set a $314.00 target price on shares of Madison Square Garden Sports in a report on Tuesday, May 6th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $252.60.

Madison Square Garden Sports Stock Down 0.9%

Shares of MSGS stock opened at $196.68 on Wednesday. The company’s fifty day simple moving average is $191.88 and its two-hundred day simple moving average is $208.50. The stock has a market cap of $4.72 billion, a P/E ratio of 82.99 and a beta of 0.78. Madison Square Garden Sports Corp. has a 52 week low of $173.26 and a 52 week high of $237.99.

Madison Square Garden Sports (NYSE:MSGS) last issued its earnings results on Friday, May 2nd. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($2.07). Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The company had revenue of $424.20 million during the quarter, compared to the consensus estimate of $436.84 million. During the same quarter in the prior year, the company earned $1.57 earnings per share. Madison Square Garden Sports’s revenue was down 1.3% on a year-over-year basis. On average, analysts anticipate that Madison Square Garden Sports Corp. will post 0.73 EPS for the current fiscal year.

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