Institute for Wealth Management LLC. Trims Stock Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Institute for Wealth Management LLC. decreased its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS) by 4.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tower Research Capital LLC TRC raised its position in shares of Madison Square Garden Sports by 738.1% in 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 period. State of Wyoming purchased a new position in shares of Madison Square Garden Sports in the 4th quarter worth about $34,000. Harbour Investments Inc. lifted its stake in shares of Madison Square Garden Sports by 42.9% in the 1st quarter. Harbour Investments Inc. now owns 233 shares of the company’s stock valued at $45,000 after purchasing an additional 70 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Madison Square Garden Sports during the 2nd quarter worth about $49,000. Finally, NBC Securities Inc. acquired a new stake in Madison Square Garden Sports during the 3rd quarter worth approximately $62,000. Institutional investors and hedge funds own 68.94% of the company’s stock.

Madison Square Garden Sports Stock Up 0.4 %

Shares of MSGS stock opened at $179.89 on Friday. Madison Square Garden Sports Corp. has a fifty-two week low of $164.79 and a fifty-two week high of $215.79. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 113.14 and a beta of 0.94. The firm’s 50 day moving average price is $185.30 and its two-hundred day moving average price is $179.83.

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

Insider Activity

In other Madison Square Garden Sports news, COO David G. Hopkinson sold 937 shares of Madison Square Garden Sports stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $192.21, for a total value of $180,100.77. Following the transaction, the chief operating officer now directly owns 2,385 shares of the company’s stock, valued at approximately $458,420.85. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Chairman James Lawrence Dolan sold 19,003 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $187.81, for a total transaction of $3,568,953.43. Following the completion of the transaction, the chairman now owns 182,583 shares of the company’s stock, valued at $34,290,913.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO David G. Hopkinson sold 937 shares of the stock in a transaction dated 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 approximately $458,420.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,176 shares of company stock valued at $8,661,793. 22.28% of the stock is owned by 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 two development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.