Poehling Capital Management INC. Cuts Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Poehling Capital Management INC. reduced its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 6.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,290 shares of the company’s stock after selling 875 shares during the period. Poehling Capital Management INC.’s holdings in Madison Square Garden Sports were worth $2,312,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MSGS. Vanguard Group Inc. boosted its holdings in Madison Square Garden Sports by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,939,705 shares of the company’s stock worth $357,914,000 after buying an additional 12,813 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in shares of Madison Square Garden Sports by 3.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 594,169 shares of the company’s stock worth $109,636,000 after acquiring an additional 21,149 shares in the last quarter. Gabelli Funds LLC grew its holdings in shares of Madison Square Garden Sports by 0.7% in the 1st quarter. Gabelli Funds LLC now owns 413,800 shares of the company’s stock worth $76,354,000 after acquiring an additional 2,850 shares during the period. Norges Bank purchased a new position in Madison Square Garden Sports in the 4th quarter valued at approximately $35,002,000. Finally, Dimensional Fund Advisors LP boosted its position in Madison Square Garden Sports by 9.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 171,864 shares of the company’s stock worth $31,250,000 after purchasing an additional 14,741 shares in the last quarter. 68.94% of the stock is owned by institutional investors and hedge funds.

Madison Square Garden Sports Price Performance

MSGS stock opened at $204.78 on Friday. The company’s 50 day simple moving average is $200.39 and its 200-day simple moving average is $190.81. Madison Square Garden Sports Corp. has a 12 month low of $164.79 and a 12 month high of $213.26. The firm has a market capitalization of $4.90 billion, a PE ratio of 208.96 and a beta of 0.94.

Madison Square Garden Sports (NYSE:MSGS) last released its quarterly earnings results on Tuesday, August 13th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.73. Madison Square Garden Sports had a negative return on equity of 18.69% and a net margin of 5.72%. The company had revenue of $227.25 million during the quarter, compared to the consensus estimate of $167.71 million. During the same quarter last year, the business posted ($0.39) earnings per share. Madison Square Garden Sports’s revenue was up 79.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Madison Square Garden Sports Corp. will post 1.39 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Macquarie dropped their price target on Madison Square Garden Sports from $240.00 to $235.00 and set an “outperform” rating for the company in a research report on Friday, August 16th.

Insider Buying and Selling at Madison Square Garden Sports

In other news, CEO James Lawrence Dolan sold 629 shares of Madison Square Garden Sports stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $209.30, for a total transaction of $131,649.70. Following the completion of the sale, the chief executive officer now directly owns 10,192 shares in the company, valued at $2,133,185.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 22.28% of the stock is owned by insiders.

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 development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.