Institute for Wealth Management LLC. Has $956,000 Stock Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

Institute for Wealth Management LLC. cut its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS) by 1.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,234 shares of the company’s stock after selling 71 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Madison Square Garden Sports were worth $956,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MSGS. Fifth Third Bancorp grew its position in shares of Madison Square Garden Sports by 119.0% in 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 during the period. Venturi Wealth Management LLC grew its position in shares of Madison Square Garden Sports by 31.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 223 shares of the company’s stock valued at $46,000 after purchasing an additional 53 shares during the period. Versant Capital Management Inc grew its position in shares of Madison Square Garden Sports by 35.3% in the 4th quarter. Versant Capital Management Inc now owns 234 shares of the company’s stock valued at $53,000 after purchasing an additional 61 shares during the period. Blue Trust Inc. grew its position in shares of Madison Square Garden Sports by 326.5% in the 3rd quarter. Blue Trust Inc. now owns 418 shares of the company’s stock valued at $87,000 after purchasing an additional 320 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Madison Square Garden Sports in the 3rd quarter valued at approximately $119,000. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Sports Stock Down 0.4 %

NYSE:MSGS opened at $219.70 on Friday. Madison Square Garden Sports Corp. has a twelve month low of $178.35 and a twelve month high of $237.99. The business has a 50 day moving average price of $223.81 and a two-hundred day moving average price of $214.34. The company has a market cap of $5.26 billion, a P/E ratio of 75.50 and a beta of 0.91.

Madison Square Garden Sports (NYSE:MSGS) last released its quarterly earnings results on Friday, November 1st. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.55. Madison Square Garden Sports had a negative return on equity of 23.81% and a net margin of 6.75%. The firm had revenue of $53.31 million during the quarter, compared to the consensus estimate of $43.71 million. During the same quarter in the prior year, the firm posted ($0.79) EPS. The business’s revenue was up 23.8% on a year-over-year basis. As a group, analysts anticipate that Madison Square Garden Sports Corp. will post 0.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Macquarie boosted their price objective on Madison Square Garden Sports from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th.

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.