Shapiro Capital Management LLC Sells 2,510 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Shapiro Capital Management LLC trimmed its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 0.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 276,968 shares of the company’s stock after selling 2,510 shares during the quarter. Madison Square Garden Sports comprises 1.6% of Shapiro Capital Management LLC’s holdings, making the stock its 29th biggest holding. Shapiro Capital Management LLC’s holdings in Madison Square Garden Sports were worth $52,106,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Madison Square Garden Sports during the 4th quarter worth $35,002,000. Sea Cliff Partners Management LP purchased a new position in shares of Madison Square Garden Sports in the fourth quarter worth about $24,577,000. Vanguard Group Inc. raised its position in shares of Madison Square Garden Sports by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 1,926,892 shares of the company’s stock valued at $350,367,000 after purchasing an additional 58,903 shares during the period. Bank of Montreal Can lifted its stake in shares of Madison Square Garden Sports by 139.2% during the 2nd quarter. Bank of Montreal Can now owns 89,166 shares of the company’s stock valued at $16,900,000 after buying an additional 51,897 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its holdings in Madison Square Garden Sports by 306.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 39,187 shares of the company’s stock worth $7,372,000 after buying an additional 29,547 shares during the period. 68.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Madison Square Garden Sports

In related news, CEO James Lawrence Dolan sold 629 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $209.30, for a total value of $131,649.70. Following the sale, the chief executive officer now owns 10,192 shares in the company, valued at $2,133,185.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 22.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Macquarie dropped their target price on Madison Square Garden Sports from $240.00 to $235.00 and set an “outperform” rating on the stock in a research report on Friday, August 16th.

Madison Square Garden Sports Stock Performance

Shares of MSGS opened at $206.10 on Tuesday. Madison Square Garden Sports Corp. has a 52-week low of $164.79 and a 52-week high of $213.26. The stock’s 50-day simple moving average is $201.80 and its 200 day simple moving average is $191.68. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 210.31 and a beta of 0.94.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.73. The firm had revenue of $227.25 million for the quarter, compared to the consensus estimate of $167.71 million. Madison Square Garden Sports had a net margin of 5.72% and a negative return on equity of 18.69%. The company’s revenue for the quarter was up 79.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.39) earnings per share. On average, research analysts forecast that Madison Square Garden Sports Corp. will post 1.39 earnings per share for the current fiscal year.

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