Horizon Kinetics Asset Management LLC Sells 230 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Horizon Kinetics Asset Management LLC trimmed its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 0.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 30,261 shares of the company’s stock after selling 230 shares during the quarter. Horizon Kinetics Asset Management LLC owned about 0.13% of Madison Square Garden Sports worth $6,829,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MSGS. Empirical Asset Management LLC bought a new stake in shares of Madison Square Garden Sports during the 4th quarter valued at $26,120,000. Wealthfront Advisers LLC acquired a new position in shares of Madison Square Garden Sports during the 4th quarter worth $16,844,000. Monimus Capital Management LP acquired a new position in shares of Madison Square Garden Sports during the 4th quarter worth $6,030,000. Tabor Asset Management LP acquired a new position in shares of Madison Square Garden Sports during the 3rd quarter worth $5,558,000. Finally, Algert Global LLC raised its holdings in shares of Madison Square Garden Sports by 535.4% during the 3rd quarter. Algert Global LLC now owns 31,459 shares of the company’s stock worth $6,552,000 after buying an additional 26,508 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Madison Square Garden Sports news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was 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 owns 5,097 shares of the company’s stock, valued at $968,022.24. This represents a 86.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 22.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Macquarie boosted their price target on 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 Stock Performance

Madison Square Garden Sports stock opened at $188.89 on Monday. Madison Square Garden Sports Corp. has a 52 week low of $178.35 and a 52 week high of $237.99. The stock has a market capitalization of $4.54 billion, a P/E ratio of 79.70 and a beta of 0.91. The stock has a fifty day moving average of $208.64 and a 200-day moving average of $215.37.

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 analysts’ consensus estimates 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 firm had revenue of $357.80 million during the quarter, compared to analyst estimates of $352.68 million. During the same period in the previous year, the company earned $0.59 EPS. Madison Square Garden Sports’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, research analysts forecast that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current year.

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.