Northern Trust Corp Buys 6,839 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Northern Trust Corp boosted its stake in Madison Square Garden Sports Corp. (NYSE:MSGS) by 6.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 116,662 shares of the company’s stock after acquiring an additional 6,839 shares during the period. Northern Trust Corp’s holdings in Madison Square Garden Sports were worth $26,328,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in Madison Square Garden Sports by 81.4% in the fourth quarter. Allworth Financial LP now owns 127 shares of the company’s stock valued at $28,000 after acquiring an additional 57 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Madison Square Garden Sports by 119.0% in the fourth quarter. Fifth Third Bancorp now owns 138 shares of the company’s stock valued at $31,000 after acquiring an additional 75 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in Madison Square Garden Sports in the fourth quarter valued at approximately $43,000. Headlands Technologies LLC boosted its holdings in Madison Square Garden Sports by 1,016.7% in the fourth quarter. Headlands Technologies LLC now owns 268 shares of the company’s stock valued at $60,000 after acquiring an additional 244 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Madison Square Garden Sports by 423.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 272 shares of the company’s stock valued at $62,000 after buying an additional 220 shares during the period. 68.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MSGS. Morgan Stanley dropped their price target on Madison Square Garden Sports from $235.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Monday, May 5th. Susquehanna began coverage on Madison Square Garden Sports in a research note on Monday, April 28th. They issued a “positive” rating and a $254.00 price target on the stock. Guggenheim reissued a “buy” rating and issued a $314.00 price target on shares of Madison Square Garden Sports in a research note on Tuesday, May 6th. Macquarie boosted 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. Finally, JPMorgan Chase & Co. dropped their price target on Madison Square Garden Sports from $240.00 to $230.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $252.60.

Insider Buying and Selling

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the stock in a transaction on 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 completion of the sale, the insider now directly owns 5,097 shares of the company’s stock, valued at approximately $968,022.24. This represents a 86.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 18.05% of the stock is owned by company insiders.

Madison Square Garden Sports Stock Up 0.5%

Shares of MSGS opened at $191.78 on Monday. Madison Square Garden Sports Corp. has a 12-month low of $173.26 and a 12-month high of $237.99. The business’s fifty day moving average is $191.27 and its 200 day moving average is $209.65. The stock has a market cap of $4.60 billion, a P/E ratio of 80.92 and a beta of 0.78.

Madison Square Garden Sports (NYSE:MSGS) last issued its earnings results on Friday, May 2nd. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($2.07). Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The firm had revenue of $424.20 million during the quarter, compared to the consensus estimate of $436.84 million. During the same quarter in the prior year, the business earned $1.57 earnings per share. Madison Square Garden Sports’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, analysts expect that Madison Square Garden Sports Corp. will post 0.73 EPS for the current 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.