American Century Companies Inc. Cuts Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

American Century Companies Inc. cut its stake in Madison Square Garden Sports Corp. (NYSE:MSGS) by 72.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,562 shares of the company’s stock after selling 4,153 shares during the period. American Century Companies Inc.’s holdings in Madison Square Garden Sports were worth $294,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its position in Madison Square Garden Sports by 80.6% during the first quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock valued at $42,000 after buying an additional 100 shares during the period. GAMMA Investing LLC boosted its position in Madison Square Garden Sports by 179.8% during the second quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock valued at $49,000 after buying an additional 169 shares during the period. Quent Capital LLC boosted its position in Madison Square Garden Sports by 312.4% during the first quarter. Quent Capital LLC now owns 565 shares of the company’s stock valued at $104,000 after buying an additional 428 shares during the period. BNP Paribas purchased a new stake in Madison Square Garden Sports during the first quarter valued at about $111,000. Finally, Dnca Finance purchased a new stake in Madison Square Garden Sports during the second quarter valued at about $113,000. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Madison Square Garden Sports 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 directly owns 10,192 shares in the company, valued at $2,133,185.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 22.28% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Macquarie lowered their price objective on shares of Madison Square Garden Sports from $240.00 to $235.00 and set an “outperform” rating for the company in a research note on Friday, August 16th.

Madison Square Garden Sports Trading Up 1.4 %

Shares of NYSE:MSGS opened at $217.24 on Friday. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 221.67 and a beta of 0.93. The company has a 50-day moving average price of $203.64 and a 200-day moving average price of $192.97. Madison Square Garden Sports Corp. has a 12 month low of $164.79 and a 12 month high of $217.32.

Madison Square Garden Sports (NYSE:MSGS) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.33 by $0.73. The firm had revenue of $227.25 million during 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 quarterly revenue was up 79.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.39) earnings per share. As a group, research analysts forecast that Madison Square Garden Sports Corp. will post 1.39 EPS 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.