California Public Employees Retirement System Boosts Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

California Public Employees Retirement System lifted its position in Madison Square Garden Sports Corp. (NYSE:MSGS) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 86,266 shares of the company’s stock after purchasing an additional 241 shares during the quarter. California Public Employees Retirement System owned about 0.36% of Madison Square Garden Sports worth $19,469,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of 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 valued at $438,991,000 after purchasing an additional 33,641 shares during the last quarter. State Street Corp boosted its stake in Madison Square Garden Sports by 1.2% during the third quarter. State Street Corp now owns 549,108 shares of the company’s stock worth $114,357,000 after buying an additional 6,640 shares during the period. Geode Capital Management LLC boosted its stake in Madison Square Garden Sports by 0.7% during the third quarter. Geode Capital Management LLC now owns 273,222 shares of the company’s stock worth $56,916,000 after buying an additional 1,913 shares during the period. Norges Bank purchased a new stake in shares of Madison Square Garden Sports in the 4th quarter valued at approximately $54,052,000. Finally, Empirical Asset Management LLC acquired a new position in shares of Madison Square Garden Sports in the 4th quarter worth approximately $26,120,000. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Madison Square Garden Sports

In other Madison Square Garden Sports news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the 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 sale, the insider now owns 5,097 shares of the company’s stock, valued at $968,022.24. This trade represents a 86.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 22.10% of the stock is currently owned by corporate insiders.

Madison Square Garden Sports Trading Down 6.7 %

MSGS opened at $180.37 on Friday. The stock’s 50-day moving average price is $202.25 and its 200 day moving average price is $214.20. Madison Square Garden Sports Corp. has a 12-month low of $178.35 and a 12-month high of $237.99. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 76.11 and a beta of 0.81.

Madison Square Garden Sports (NYSE:MSGS) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.25). Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. The business had revenue of $357.80 million during the quarter, compared to analysts’ expectations of $352.68 million. During the same period in the previous year, the business posted $0.59 EPS. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, research analysts forecast that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Macquarie lifted 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 report on Tuesday, February 25th.

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.