Institute for Wealth Management LLC. Sells 229 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Institute for Wealth Management LLC. reduced its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,418 shares of the company’s stock after selling 229 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Madison Square Garden Sports were worth $803,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of MSGS. Arizona State Retirement System increased its holdings in Madison Square Garden Sports by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 4,410 shares of the company’s stock worth $777,000 after purchasing an additional 61 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Madison Square Garden Sports by 0.7% during the fourth quarter. Raymond James & Associates now owns 9,131 shares of the company’s stock worth $1,660,000 after buying an additional 61 shares in the last quarter. Harbour Investments Inc. grew its holdings in shares of Madison Square Garden Sports by 42.9% during the first quarter. Harbour Investments Inc. now owns 233 shares of the company’s stock worth $45,000 after buying an additional 70 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Madison Square Garden Sports by 7.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 1,152 shares of the company’s stock valued at $203,000 after buying an additional 81 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in Madison Square Garden Sports by 15.2% in the 2nd quarter. Captrust Financial Advisors now owns 638 shares of the company’s stock valued at $96,000 after acquiring an additional 84 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman James Lawrence Dolan sold 8,236 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $190.25, for a total transaction of $1,566,899.00. Following the sale, the chairman now owns 221,586 shares in the company, valued at $42,156,736.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman James Lawrence Dolan sold 8,236 shares of the firm’s stock in a transaction 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 transaction, the chairman now directly owns 221,586 shares of the company’s stock, valued at $42,156,736.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO David G. Hopkinson sold 937 shares of the company’s stock in a transaction 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 sale, the chief operating officer now directly owns 2,385 shares in the company, 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 in the last quarter. Corporate insiders own 22.28% of the company’s stock.

Madison Square Garden Sports Stock Up 0.4 %

Shares of MSGS opened at $179.89 on Friday. 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 capitalization of $4.31 billion, a P/E ratio of 113.14 and a beta of 0.94. The company has a 50 day moving average of $185.30 and a 200-day moving average of $179.83.

Madison Square Garden Sports (NYSE:MSGS) last released its earnings results on Tuesday, February 6th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter last year, the firm earned $0.84 earnings per share. The firm’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Madison Square Garden Sports Corp. will post 2.11 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 two development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.