Allspring Global Investments Holdings LLC Cuts Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

Allspring Global Investments Holdings LLC lowered its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 54.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,022 shares of the company’s stock after selling 32,500 shares during the period. Allspring Global Investments Holdings LLC owned about 0.11% of Madison Square Garden Sports worth $4,913,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of MSGS. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Madison Square Garden Sports during the fourth quarter worth about $60,500,000. Norges Bank acquired a new position in Madison Square Garden Sports during the fourth quarter worth about $47,578,000. Vanguard Group Inc. boosted its position in Madison Square Garden Sports by 7.5% during the third quarter. Vanguard Group Inc. now owns 1,867,989 shares of the company’s stock worth $329,326,000 after acquiring an additional 130,745 shares during the last quarter. Dendur Capital LP acquired a new position in Madison Square Garden Sports during the third quarter worth about $22,302,000. Finally, Nomura Holdings Inc. boosted its position in Madison Square Garden Sports by 62.5% during the first quarter. Nomura Holdings Inc. now owns 302,300 shares of the company’s stock worth $58,903,000 after acquiring an additional 116,300 shares during the last quarter. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Madison Square Garden Sports Trading Up 0.4 %

MSGS opened at $179.89 on Friday. The firm has a market capitalization of $4.31 billion, a PE ratio of 113.14 and a beta of 0.94. Madison Square Garden Sports Corp. has a twelve month low of $164.79 and a twelve month high of $215.79. The firm’s 50-day moving average price is $185.30 and its 200 day moving average price is $179.83.

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

Insider Buying and Selling at Madison Square Garden Sports

In other Madison Square Garden Sports news, COO David G. Hopkinson sold 937 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $192.21, for a total value of $180,100.77. Following the transaction, the chief operating officer now directly owns 2,385 shares in the company, valued at approximately $458,420.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Madison Square Garden Sports news, COO David G. Hopkinson sold 937 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $192.21, for a total value of $180,100.77. Following the transaction, the chief operating officer now directly owns 2,385 shares in the company, valued at approximately $458,420.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman James Lawrence Dolan sold 19,003 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $187.81, for a total transaction of $3,568,953.43. Following the completion of the transaction, the chairman now owns 182,583 shares in the company, valued at $34,290,913.23. The disclosure for this sale can be found here. Insiders have sold 46,176 shares of company stock worth $8,661,793 in the last ninety days. 22.28% of the stock is owned by insiders.

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