Franklin Resources Inc. Has $24.42 Million Stake in Madison Square Garden Sports Corp. (NYSE:MSGS)

Franklin Resources Inc. increased its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 8.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 108,205 shares of the company’s stock after purchasing an additional 8,358 shares during the quarter. Franklin Resources Inc.’s holdings in Madison Square Garden Sports were worth $24,420,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. California Public Employees Retirement System lifted its position in Madison Square Garden Sports by 0.3% in the 4th quarter. California Public Employees Retirement System now owns 86,266 shares of the company’s stock worth $19,469,000 after buying an additional 241 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Madison Square Garden Sports by 76.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 10,258 shares of the company’s stock worth $2,315,000 after acquiring an additional 4,455 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Madison Square Garden Sports during the fourth quarter worth $214,000. Norges Bank purchased a new position in Madison Square Garden Sports in the fourth quarter valued at about $54,052,000. Finally, Vanguard Group Inc. increased its position in Madison Square Garden Sports by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 1,945,194 shares of the company’s stock worth $438,991,000 after purchasing an additional 33,641 shares during the last quarter. 68.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Macquarie lifted their price target on Madison Square Garden Sports from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th.

Insider Buying and Selling

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $189.92, for a total value of $6,044,204.00. Following the transaction, the insider now directly owns 5,097 shares in the company, valued at approximately $968,022.24. This trade represents a 86.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 22.10% of the company’s stock.

Madison Square Garden Sports Stock Down 6.7 %

Shares of MSGS opened at $180.37 on Monday. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 76.11 and a beta of 0.81. The company’s fifty day moving average is $202.25 and its 200-day moving average is $214.30. Madison Square Garden Sports Corp. has a 12 month low of $178.35 and a 12 month high of $237.99.

Madison Square Garden Sports (NYSE:MSGS) last posted its earnings results on Tuesday, February 4th. The company reported $0.05 EPS for the quarter, missing the consensus estimate 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 business had revenue of $357.80 million for the quarter, compared to analyst estimates of $352.68 million. During the same period in the previous year, the company earned $0.59 earnings per share. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, research analysts predict that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current fiscal 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.