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

Weik Capital Management decreased its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,240 shares of the company’s stock after selling 85 shares during the quarter. Weik Capital Management’s holdings in Madison Square Garden Sports were worth $731,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP raised its position in shares of Madison Square Garden Sports by 81.4% in the 4th quarter. Allworth Financial LP now owns 127 shares of the company’s stock worth $28,000 after purchasing an additional 57 shares during the last quarter. Fifth Third Bancorp increased its stake in Madison Square Garden Sports by 119.0% during the 4th quarter. Fifth Third Bancorp now owns 138 shares of the company’s stock valued at $31,000 after purchasing an additional 75 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in Madison Square Garden Sports in the fourth quarter worth about $43,000. Versant Capital Management Inc lifted its stake in shares of Madison Square Garden Sports by 35.3% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the company’s stock worth $53,000 after buying an additional 61 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Madison Square Garden Sports by 423.1% during 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 last quarter. 68.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Madison Square Garden Sports Price Performance

Madison Square Garden Sports stock opened at $198.47 on Friday. Madison Square Garden Sports Corp. has a one year low of $178.35 and a one year high of $237.99. The business’s fifty day moving average is $205.25 and its 200 day moving average is $214.62. The stock has a market capitalization of $4.77 billion, a PE ratio of 83.74 and a beta of 0.91.

Madison Square Garden Sports (NYSE:MSGS) last issued its earnings results on Tuesday, February 4th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.25). Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The company had revenue of $357.80 million during the quarter, compared to analysts’ expectations of $352.68 million. During the same quarter in the prior year, the business posted $0.59 EPS. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, sell-side analysts expect that Madison Square Garden Sports Corp. will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling at Madison Square Garden Sports

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

Madison Square Garden Sports 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.