239,507 Shares in Madison Square Garden Sports Corp. (NYSE:MSGS) Bought by Norges Bank

Norges Bank purchased a new stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 239,507 shares of the company’s stock, valued at approximately $54,052,000.

Several other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in shares of Madison Square Garden Sports by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 111,855 shares of the company’s stock worth $23,295,000 after purchasing an additional 3,784 shares during the last quarter. FMR LLC raised its position in Madison Square Garden Sports by 11.3% in the 3rd quarter. FMR LLC now owns 1,669 shares of the company’s stock valued at $348,000 after buying an additional 169 shares during the last quarter. Verition Fund Management LLC lifted its stake in Madison Square Garden Sports by 68.5% during the 3rd quarter. Verition Fund Management LLC now owns 6,519 shares of the company’s stock valued at $1,358,000 after acquiring an additional 2,650 shares in the last quarter. Paloma Partners Management Co purchased a new position in Madison Square Garden Sports during the 3rd quarter worth $219,000. Finally, Holocene Advisors LP grew its stake in shares of Madison Square Garden Sports by 10.9% in the 3rd quarter. Holocene Advisors LP now owns 7,942 shares of the company’s stock worth $1,654,000 after acquiring an additional 782 shares in the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

Insider Activity at Madison Square Garden Sports

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 5,097 shares in the company, valued at approximately $968,022.24. This represents a 86.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 22.10% of the stock is owned by company insiders.

Madison Square Garden Sports Stock Down 6.7 %

Shares of NYSE MSGS opened at $180.37 on Friday. The company has a market capitalization of $4.33 billion, a PE ratio of 76.11 and a beta of 0.81. The stock’s 50 day moving average price is $202.25 and its 200-day moving average price is $214.20. Madison Square Garden Sports Corp. has a twelve month low of $178.35 and a twelve month high of $237.99.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings data 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). The business had revenue of $357.80 million during the quarter, compared to the consensus estimate of $352.68 million. Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 EPS. As a group, research analysts expect that Madison Square Garden Sports Corp. will post 0.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Macquarie boosted their price target 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 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.