Principal Financial Group Inc. Sells 3,329 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Principal Financial Group Inc. trimmed its stake in Madison Square Garden Sports Corp. (NYSE:MSGS) by 4.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,809 shares of the company’s stock after selling 3,329 shares during the quarter. Principal Financial Group Inc.’s holdings in Madison Square Garden Sports were worth $16,413,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Venturi Wealth Management LLC grew its stake in shares of Madison Square Garden Sports by 31.2% in the third quarter. Venturi Wealth Management LLC now owns 223 shares of the company’s stock valued at $46,000 after buying an additional 53 shares in the last quarter. Blue Trust Inc. grew its position in shares of Madison Square Garden Sports by 326.5% in the 3rd quarter. Blue Trust Inc. now owns 418 shares of the company’s stock valued at $87,000 after acquiring an additional 320 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Madison Square Garden Sports during the 3rd quarter worth about $119,000. Quent Capital LLC increased its stake in shares of Madison Square Garden Sports by 271.3% during the 3rd quarter. Quent Capital LLC now owns 609 shares of the company’s stock worth $127,000 after purchasing an additional 445 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Madison Square Garden Sports by 142.6% in the 3rd quarter. GAMMA Investing LLC now owns 638 shares of the company’s stock valued at $133,000 after purchasing an additional 375 shares during the period. Institutional investors and hedge funds own 68.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Macquarie lifted their price target on Madison Square Garden Sports from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th.

Madison Square Garden Sports Trading Down 0.3 %

MSGS stock opened at $221.10 on Friday. Madison Square Garden Sports Corp. has a 1-year low of $176.27 and a 1-year high of $237.99. The business’s 50 day simple moving average is $225.27 and its 200 day simple moving average is $209.40. The firm has a market capitalization of $5.30 billion, a PE ratio of 75.98 and a beta of 0.91.

Madison Square Garden Sports (NYSE:MSGS) last released its quarterly earnings data on Friday, November 1st. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.86) by $0.55. The firm had revenue of $53.31 million for the quarter, compared to the consensus estimate of $43.71 million. Madison Square Garden Sports had a net margin of 6.75% and a negative return on equity of 23.81%. The company’s quarterly revenue was up 23.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.79) earnings per share. As a group, sell-side analysts predict that Madison Square Garden Sports Corp. will post 0.81 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.