Arizona State Retirement System Decreases Stock Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Arizona State Retirement System lowered its stake in Madison Square Garden Sports Corp. (NYSE:MSGS) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,331 shares of the company’s stock after selling 79 shares during the period. Arizona State Retirement System’s holdings in Madison Square Garden Sports were worth $788,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MSGS. T. Rowe Price Investment Management Inc. purchased a new position in shares of Madison Square Garden Sports in the fourth quarter worth about $60,500,000. Norges Bank purchased a new position in shares of Madison Square Garden Sports in the fourth quarter worth about $47,578,000. Vanguard Group Inc. increased its holdings in Madison Square Garden Sports by 7.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,867,989 shares of the company’s stock valued at $329,326,000 after purchasing an additional 130,745 shares during the period. Dendur Capital LP purchased a new position in Madison Square Garden Sports during the 3rd quarter valued at about $22,302,000. Finally, Nomura Holdings Inc. increased its holdings in Madison Square Garden Sports by 62.5% during the 1st quarter. Nomura Holdings Inc. now owns 302,300 shares of the company’s stock valued at $58,903,000 after purchasing an additional 116,300 shares during the period. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Madison Square Garden Sports Price Performance

Shares of NYSE:MSGS opened at $178.87 on Thursday. Madison Square Garden Sports Corp. has a 1 year low of $164.79 and a 1 year high of $215.79. The company has a market cap of $4.28 billion, a PE ratio of 112.50 and a beta of 0.94. The stock’s 50-day moving average is $185.76 and its 200 day moving average is $179.80.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.22. Madison Square Garden Sports had a negative return on equity of 11.27% and a net margin of 4.38%. The company had revenue of $326.90 million for the quarter, compared to the consensus estimate of $325.86 million. During the same quarter in the previous year, the business earned $0.84 EPS. Madison Square Garden Sports’s revenue was down 7.6% compared to the same quarter last year. Analysts expect that Madison Square Garden Sports Corp. will post 2.11 EPS for the current fiscal year.

Insider Activity at Madison Square Garden Sports

In other Madison Square Garden Sports news, COO David G. Hopkinson sold 937 shares of Madison Square Garden Sports stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $192.21, for a total transaction of $180,100.77. Following the sale, the chief operating officer now directly owns 2,385 shares of the company’s stock, valued at approximately $458,420.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Madison Square Garden Sports news, COO David G. Hopkinson sold 937 shares of Madison Square Garden Sports stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $192.21, for a total transaction of $180,100.77. Following the sale, the chief operating officer now directly owns 2,385 shares of the company’s stock, valued at approximately $458,420.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman James Lawrence Dolan sold 18,000 shares of Madison Square Garden Sports stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $185.88, for a total value of $3,345,840.00. Following the sale, the chairman now directly owns 164,583 shares in the company, valued at $30,592,688.04. The disclosure for this sale can be found here. Insiders have sold a total of 46,176 shares of company stock worth $8,661,793 in the last 90 days. Company insiders own 22.28% of the company’s stock.

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 two development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.