Lafayette Investments Inc. Sells 650 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Lafayette Investments Inc. lessened its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,399 shares of the company’s stock after selling 650 shares during the period. Lafayette Investments Inc.’s holdings in Madison Square Garden Sports were worth $3,527,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MSGS. Tower Research Capital LLC TRC boosted its stake in shares of Madison Square Garden Sports by 738.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 176 shares of the company’s stock worth $34,000 after buying an additional 155 shares during the last quarter. State of Wyoming acquired a new position in shares of Madison Square Garden Sports during the 4th quarter worth about $34,000. Harbour Investments Inc. boosted its stake in shares of Madison Square Garden Sports by 42.9% during the 1st quarter. Harbour Investments Inc. now owns 233 shares of the company’s stock worth $45,000 after buying an additional 70 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Madison Square Garden Sports during the 2nd quarter worth about $49,000. Finally, NBC Securities Inc. acquired a new position in shares of Madison Square Garden Sports during the 3rd quarter worth about $62,000. Institutional investors own 68.94% of the company’s stock.

Insiders Place Their Bets

In other news, COO David G. Hopkinson sold 937 shares of the business’s 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 completion of the sale, the chief operating officer now owns 2,385 shares in the company, valued at $458,420.85. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Chairman James Lawrence Dolan sold 8,236 shares of Madison Square Garden Sports stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $190.25, for a total value of $1,566,899.00. Following the completion of the sale, the chairman now directly owns 221,586 shares in the company, valued at $42,156,736.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO David G. Hopkinson sold 937 shares of Madison Square Garden Sports stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $192.21, for a total transaction of $180,100.77. Following the completion of the sale, the chief operating officer now owns 2,385 shares of the company’s stock, valued at $458,420.85. The disclosure for this sale can be found here. Insiders sold 46,176 shares of company stock worth $8,661,793 over the last three months. Insiders own 22.28% of the company’s stock.

Madison Square Garden Sports Stock Performance

NYSE:MSGS traded up $0.43 during mid-day trading on Friday, hitting $179.60. The stock had a trading volume of 9,159 shares, compared to its average volume of 125,387. Madison Square Garden Sports Corp. has a twelve month low of $164.79 and a twelve month high of $215.79. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 112.75 and a beta of 0.94. The company’s 50 day simple moving average is $185.52 and its 200 day simple moving average is $179.80.

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

Madison Square Garden Sports Company 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.