Madison Square Garden Sports Corp. (NYSE:MSGS) Shares Purchased by Pullen Investment Management LLC

Pullen Investment Management LLC boosted its stake in Madison Square Garden Sports Corp. (NYSE:MSGS) by 44.6% in the first quarter, Holdings Channel.com reports. The firm owned 10,744 shares of the company’s stock after acquiring an additional 3,313 shares during the quarter. Madison Square Garden Sports comprises about 1.3% of Pullen Investment Management LLC’s portfolio, making the stock its 19th largest position. Pullen Investment Management LLC’s holdings in Madison Square Garden Sports were worth $2,092,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MSGS. Vanguard Group Inc. grew its stake in shares of 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 valued at $438,991,000 after buying an additional 33,641 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Madison Square Garden Sports by 1,854.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 498,607 shares of the company’s stock worth $112,526,000 after purchasing an additional 473,090 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Madison Square Garden Sports by 16.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 255,339 shares of the company’s stock valued at $57,625,000 after buying an additional 36,799 shares in the last quarter. Norges Bank acquired a new stake in shares of Madison Square Garden Sports in the fourth quarter valued at about $54,052,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Madison Square Garden Sports by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 222,090 shares of the company’s stock worth $50,124,000 after acquiring an additional 9,979 shares during the period. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Madison Square Garden Sports Stock Down 1.1%

Shares of MSGS stock opened at $187.38 on Friday. The company has a 50 day moving average of $190.89 and a 200-day moving average of $204.34. Madison Square Garden Sports Corp. has a 12-month low of $173.26 and a 12-month high of $237.99. The firm has a market cap of $4.50 billion, a P/E ratio of 79.06 and a beta of 0.77.

Madison Square Garden Sports (NYSE:MSGS) last issued its quarterly earnings data on Friday, May 2nd. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of $1.48 by ($2.07). Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. The firm had revenue of $424.20 million for the quarter, compared to analysts’ expectations of $436.84 million. During the same period in the prior year, the firm posted $1.57 EPS. Madison Square Garden Sports’s revenue was down 1.3% on a year-over-year basis. As a group, equities analysts expect that Madison Square Garden Sports Corp. will post 0.73 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on MSGS shares. Morgan Stanley dropped their price objective on Madison Square Garden Sports from $235.00 to $215.00 and set an “equal weight” rating for the company in a research report on Monday, May 5th. JPMorgan Chase & Co. reduced their price target on shares of Madison Square Garden Sports from $240.00 to $230.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Guggenheim restated a “buy” rating and issued a $314.00 target price on shares of Madison Square Garden Sports in a research report on Tuesday, May 6th. Susquehanna began coverage on Madison Square Garden Sports in a research note on Monday, April 28th. They issued a “positive” rating and a $254.00 price target for the company. Finally, Macquarie boosted their price objective on Madison Square Garden Sports from $240.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Madison Square Garden Sports currently has an average rating of “Moderate Buy” and an average target price of $252.60.

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.