Madison Square Garden Sports Corp. (NYSE:MSGS) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. grew its holdings in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 108,205 shares of the company’s stock after purchasing an additional 8,358 shares during the period. Franklin Resources Inc. owned approximately 0.45% of Madison Square Garden Sports worth $24,420,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of MSGS. FMR LLC increased its stake in Madison Square Garden Sports by 11.3% during the 3rd quarter. FMR LLC now owns 1,669 shares of the company’s stock valued at $348,000 after buying an additional 169 shares during the period. Verition Fund Management LLC increased its stake in shares of Madison Square Garden Sports by 68.5% during the third quarter. Verition Fund Management LLC now owns 6,519 shares of the company’s stock valued at $1,358,000 after acquiring an additional 2,650 shares during the period. HighTower Advisors LLC raised its holdings in Madison Square Garden Sports by 11.0% during the third quarter. HighTower Advisors LLC now owns 19,549 shares of the company’s stock worth $4,063,000 after purchasing an additional 1,934 shares in the last quarter. Quantinno Capital Management LP lifted its position in Madison Square Garden Sports by 647.3% in the third quarter. Quantinno Capital Management LP now owns 9,887 shares of the company’s stock worth $2,059,000 after purchasing an additional 8,564 shares during the period. Finally, Quadrature Capital Ltd bought a new position in Madison Square Garden Sports during the 3rd quarter valued at $348,000. 68.94% of the stock is currently owned by institutional investors.

Insider Transactions at Madison Square Garden Sports

In other Madison Square Garden Sports news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $189.92, for a total value of $6,044,204.00. Following the completion of the transaction, the insider now directly owns 5,097 shares in the company, valued at $968,022.24. This trade represents a 86.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 22.10% of the stock is owned by insiders.

Madison Square Garden Sports Trading Down 6.7 %

NYSE:MSGS opened at $180.37 on Monday. The company has a 50-day moving average of $202.25 and a 200-day moving average of $214.30. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 76.11 and a beta of 0.81. Madison Square Garden Sports Corp. has a twelve month low of $178.35 and a twelve month high of $237.99.

Madison Square Garden Sports (NYSE:MSGS) last issued its earnings results on Tuesday, February 4th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.25). The business had revenue of $357.80 million for the quarter, compared to the consensus estimate of $352.68 million. Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.59 earnings per share. On average, research analysts forecast that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Macquarie boosted their price objective on Madison Square Garden Sports from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 25th.

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.