Madison Square Garden Sports Corp. (NYSE:MSGS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 4.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,138 shares of the company’s stock after selling 4,213 shares during the period. Principal Financial Group Inc. owned 0.34% of Madison Square Garden Sports worth $15,453,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in shares of Madison Square Garden Sports in the 4th quarter valued at $430,000. Truist Financial Corp boosted its stake in shares of Madison Square Garden Sports by 35.6% during the fourth quarter. Truist Financial Corp now owns 1,621 shares of the company’s stock worth $295,000 after buying an additional 426 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Madison Square Garden Sports by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 99,446 shares of the company’s stock worth $18,082,000 after buying an additional 4,877 shares during the last quarter. Marest Capital LLC purchased a new position in shares of Madison Square Garden Sports during the fourth quarter worth about $304,000. Finally, Dimensional Fund Advisors LP increased its position in Madison Square Garden Sports by 9.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 171,864 shares of the company’s stock valued at $31,250,000 after acquiring an additional 14,741 shares during the period. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Madison Square Garden Sports Stock Performance

Shares of Madison Square Garden Sports stock opened at $205.70 on Thursday. Madison Square Garden Sports Corp. has a one year low of $164.79 and a one year high of $213.26. The company has a market cap of $4.93 billion, a P/E ratio of 209.90 and a beta of 0.95. The firm has a fifty day moving average of $198.90 and a two-hundred day moving average of $190.13.

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

Analyst Upgrades and Downgrades

Separately, Macquarie lowered 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 note on Friday, August 16th.

Insiders Place Their Bets

In related news, CEO James Lawrence Dolan sold 629 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $209.30, for a total value of $131,649.70. Following the completion of 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 can be accessed through the SEC website. 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 development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.