Diversify Wealth Management LLC Sells 78 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Diversify Wealth Management LLC cut its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS) by 7.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 991 shares of the company’s stock after selling 78 shares during the period. Diversify Wealth Management LLC’s holdings in Madison Square Garden Sports were worth $214,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in Madison Square Garden Sports by 80.6% in the first quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock worth $42,000 after acquiring an additional 100 shares during the period. GAMMA Investing LLC raised its position in Madison Square Garden Sports by 179.8% in the second quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock worth $49,000 after acquiring an additional 169 shares during the period. Blue Trust Inc. raised its position in Madison Square Garden Sports by 326.5% in the third quarter. Blue Trust Inc. now owns 418 shares of the company’s stock worth $87,000 after acquiring an additional 320 shares during the period. Quent Capital LLC raised its position in Madison Square Garden Sports by 312.4% in the first quarter. Quent Capital LLC now owns 565 shares of the company’s stock worth $104,000 after acquiring an additional 428 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new position in Madison Square Garden Sports in the third quarter worth approximately $119,000. 68.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Macquarie decreased their price objective on shares of Madison Square Garden Sports from $240.00 to $235.00 and set an “outperform” rating on the stock in a research report on Friday, August 16th.

Insider Activity at Madison Square Garden Sports

In related news, CEO James Lawrence Dolan sold 629 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $209.30, for a total transaction of $131,649.70. Following the completion of the transaction, the chief executive officer now directly owns 10,192 shares of the company’s stock, valued at approximately $2,133,185.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 22.10% of the stock is currently owned by corporate insiders.

Madison Square Garden Sports Price Performance

Shares of MSGS stock opened at $220.99 on Friday. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 90.94 and a beta of 0.93. Madison Square Garden Sports Corp. has a one year low of $166.26 and a one year high of $227.66. The company’s fifty day moving average price is $211.81 and its 200-day moving average price is $198.08.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings data on Friday, November 1st. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.86) by $0.55. The firm had revenue of $53.31 million for the quarter, compared to the consensus estimate of $43.71 million. Madison Square Garden Sports had a net margin of 5.72% and a negative return on equity of 18.69%. The company’s revenue was up 23.8% on a year-over-year basis. During the same period last year, the firm earned ($0.79) EPS. Equities research analysts expect that Madison Square Garden Sports Corp. will post 1.42 earnings per share for the current fiscal year.

About Madison Square Garden Sports

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.