Institute for Wealth Management LLC. Has $956,000 Stock Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Institute for Wealth Management LLC. decreased its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,234 shares of the company’s stock after selling 71 shares during the period. Institute for Wealth Management LLC.’s holdings in Madison Square Garden Sports were worth $956,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its holdings in Madison Square Garden Sports by 31.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 223 shares of the company’s stock worth $46,000 after purchasing an additional 53 shares during the last quarter. Creative Planning raised its holdings in Madison Square Garden Sports by 2.5% during the 3rd quarter. Creative Planning now owns 2,542 shares of the company’s stock worth $529,000 after purchasing an additional 61 shares during the last quarter. Versant Capital Management Inc raised its holdings in Madison Square Garden Sports by 35.3% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the company’s stock worth $53,000 after purchasing an additional 61 shares during the last quarter. Fifth Third Bancorp raised its holdings in Madison Square Garden Sports by 119.0% during the 4th quarter. Fifth Third Bancorp now owns 138 shares of the company’s stock worth $31,000 after purchasing an additional 75 shares during the last quarter. Finally, Insight Inv LLC raised its holdings in Madison Square Garden Sports by 1.5% during the 3rd quarter. Insight Inv LLC now owns 6,665 shares of the company’s stock worth $1,388,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

Madison Square Garden Sports Trading Down 0.4 %

Shares of NYSE:MSGS opened at $219.70 on Friday. The stock has a market capitalization of $5.26 billion, a P/E ratio of 75.50 and a beta of 0.91. The business has a 50-day moving average price of $223.81 and a two-hundred day moving average price of $214.34. Madison Square Garden Sports Corp. has a 1-year low of $178.35 and a 1-year high of $237.99.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings results on Friday, November 1st. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.55. The company had revenue of $53.31 million during the quarter, compared to analysts’ expectations of $43.71 million. Madison Square Garden Sports had a negative return on equity of 23.81% and a net margin of 6.75%. Madison Square Garden Sports’s revenue was up 23.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.79) EPS. As a group, equities analysts predict that Madison Square Garden Sports Corp. will post 0.81 EPS for the current year.

Analyst Ratings Changes

Separately, Macquarie boosted their price objective 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.

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.