Resona Asset Management Co. Ltd. Makes New $631,000 Investment in Madison Square Garden Sports Corp. (NYSE:MSGS)

Resona Asset Management Co. Ltd. bought a new position in Madison Square Garden Sports Corp. (NYSE:MSGS) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,794 shares of the company’s stock, valued at approximately $631,000.

Other institutional investors have also made changes to their positions in the company. Allworth Financial LP boosted its stake in Madison Square Garden Sports by 81.4% in the fourth quarter. Allworth Financial LP now owns 127 shares of the company’s stock valued at $28,000 after acquiring an additional 57 shares during the period. Fifth Third Bancorp lifted its holdings 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 worth $31,000 after purchasing an additional 75 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in Madison Square Garden Sports during the 4th quarter valued at approximately $43,000. Versant Capital Management Inc grew its stake in Madison Square Garden Sports by 35.3% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the company’s stock worth $53,000 after buying an additional 61 shares during the last quarter. Finally, Headlands Technologies LLC increased its position in Madison Square Garden Sports by 1,016.7% in the fourth quarter. Headlands Technologies LLC now owns 268 shares of the company’s stock worth $60,000 after buying an additional 244 shares during the period. 68.94% of the stock is currently owned by institutional investors.

Insider Transactions at Madison Square Garden Sports

In other news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 5,097 shares in the company, valued at $968,022.24. This trade represents a 86.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 22.10% of the company’s stock.

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 company an “outperform” rating in a report on Tuesday, February 25th.

Madison Square Garden Sports Trading Down 0.4 %

NYSE MSGS opened at $187.89 on Friday. The company has a 50-day moving average price of $197.73 and a two-hundred day moving average price of $213.15. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 79.28 and a beta of 0.81. Madison Square Garden Sports Corp. has a 52 week low of $173.26 and a 52 week high of $237.99.

Madison Square Garden Sports (NYSE:MSGS) last issued 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 negative return on equity of 20.50% and a net margin of 5.33%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the company earned $0.59 earnings per share. As a group, equities research analysts expect that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current fiscal year.

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.