Weik Capital Management Sells 85 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Weik Capital Management reduced its position in Madison Square Garden Sports Corp. (NYSE:MSGS) by 2.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,240 shares of the company’s stock after selling 85 shares during the period. Weik Capital Management’s holdings in Madison Square Garden Sports were worth $731,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MSGS. Norges Bank bought a new position in shares of Madison Square Garden Sports in the fourth quarter worth about $54,052,000. Vanguard Group Inc. boosted its stake in Madison Square Garden Sports by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 1,945,194 shares of the company’s stock worth $438,991,000 after purchasing an additional 33,641 shares during the period. LPL Financial LLC boosted its stake in Madison Square Garden Sports by 12.0% in the 4th quarter. LPL Financial LLC now owns 2,272 shares of the company’s stock worth $513,000 after purchasing an additional 244 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Madison Square Garden Sports during the 4th quarter valued at approximately $722,000. Finally, Teacher Retirement System of Texas raised its position in shares of Madison Square Garden Sports by 342.5% during the fourth quarter. Teacher Retirement System of Texas now owns 14,343 shares of the company’s stock valued at $3,237,000 after buying an additional 11,102 shares during the last quarter. 68.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Macquarie raised 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 research note on Tuesday, February 25th.

Insider Buying and Selling

In related 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 stock was sold at an average price of $189.92, for a total value of $6,044,204.00. Following the completion of the transaction, the insider now owns 5,097 shares in the company, valued at approximately $968,022.24. This trade represents a 86.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 22.10% of the stock is currently owned by company insiders.

Madison Square Garden Sports Trading Down 0.0 %

Shares of MSGS stock opened at $198.47 on Friday. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 83.74 and a beta of 0.91. Madison Square Garden Sports Corp. has a 12-month low of $178.35 and a 12-month high of $237.99. The stock’s 50-day moving average price is $205.25 and its 200-day moving average price is $214.62.

Madison Square Garden Sports (NYSE:MSGS) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.25). The firm had revenue of $357.80 million during the quarter, compared to the consensus estimate of $352.68 million. Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The business’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 EPS. As a group, research analysts predict 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.