Alliancebernstein L.P. Has $1.79 Million Stock Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

Alliancebernstein L.P. cut its position in Madison Square Garden Sports Corp. (NYSE:MSGS) by 6.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,919 shares of the company’s stock after selling 558 shares during the quarter. Alliancebernstein L.P.’s holdings in Madison Square Garden Sports were worth $1,787,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MSGS. Norges Bank bought a new stake in Madison Square Garden Sports during the fourth quarter worth about $54,052,000. Empirical Asset Management LLC acquired a new position in shares of Madison Square Garden Sports in the 4th quarter valued at approximately $26,120,000. Wealthfront Advisers LLC bought a new stake in shares of Madison Square Garden Sports during the 4th quarter worth approximately $16,844,000. Vanguard Group Inc. boosted its position in shares of Madison Square Garden Sports by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 1,945,194 shares of the company’s stock worth $438,991,000 after acquiring an additional 33,641 shares in the last quarter. Finally, Monimus Capital Management LP bought a new position in Madison Square Garden Sports in the fourth quarter valued at approximately $6,030,000. Institutional investors own 68.94% of the company’s stock.

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 business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $189.92, for a total transaction of $6,044,204.00. Following the completion of the sale, the insider now directly owns 5,097 shares of the company’s stock, valued at approximately $968,022.24. The trade was a 86.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 22.10% of the company’s stock.

Analysts Set New Price Targets

Separately, Macquarie lifted their price target on 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.

Madison Square Garden Sports Stock Performance

Shares of NYSE MSGS opened at $191.52 on Friday. The stock has a market cap of $4.60 billion, a P/E ratio of 80.81 and a beta of 0.81. The firm has a 50 day moving average price of $195.93 and a two-hundred day moving average price of $212.53. Madison Square Garden Sports Corp. has a 52-week low of $173.26 and a 52-week high of $237.99.

Madison Square Garden Sports (NYSE:MSGS) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.05 earnings per share 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 company had revenue of $357.80 million during the quarter, compared to the consensus estimate of $352.68 million. During the same period last year, the firm posted $0.59 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. Analysts predict that Madison Square Garden Sports Corp. will post 0.73 earnings per share 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.