Orion Portfolio Solutions LLC Sells 258 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Orion Portfolio Solutions LLC decreased its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS) by 2.7% in the fourth quarter, Holdings Channel reports. The firm owned 9,335 shares of the company’s stock after selling 258 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Madison Square Garden Sports were worth $2,107,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. New Age Alpha Advisors LLC purchased a new stake in shares of Madison Square Garden Sports during the fourth quarter valued at $214,000. Norges Bank purchased a new stake in shares of Madison Square Garden Sports during the 4th quarter valued at about $54,052,000. Vanguard Group Inc. raised its holdings in shares of Madison Square Garden Sports by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 1,945,194 shares of the company’s stock valued at $438,991,000 after purchasing an additional 33,641 shares during the last quarter. LPL Financial LLC boosted its holdings in Madison Square Garden Sports by 12.0% in the fourth quarter. LPL Financial LLC now owns 2,272 shares of the company’s stock worth $513,000 after purchasing an additional 244 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Madison Square Garden Sports in the 4th quarter worth approximately $722,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Insider Transactions at Madison Square Garden Sports

In other 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 22.10% of the company’s stock.

Madison Square Garden Sports Stock Performance

NYSE:MSGS opened at $198.24 on Wednesday. The stock has a 50-day simple moving average of $203.93 and a two-hundred day simple moving average of $214.64. The firm has a market capitalization of $4.76 billion, a PE ratio of 83.65 and a beta of 0.91. Madison Square Garden Sports Corp. has a 52-week low of $178.35 and a 52-week 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). Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. The company had revenue of $357.80 million for the quarter, compared to the consensus estimate of $352.68 million. During the same quarter last year, the firm posted $0.59 earnings per share. The company’s revenue was up 9.5% compared to the same quarter last year. Equities analysts forecast that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Macquarie lifted their price objective 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 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.