Fernwood Investment Management LLC Sells 152 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Fernwood Investment Management LLC trimmed its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,600 shares of the company’s stock after selling 152 shares during the quarter. Fernwood Investment Management LLC’s holdings in Madison Square Garden Sports were worth $1,200,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. NBC Securities Inc. bought a new stake in Madison Square Garden Sports during the 3rd quarter valued at approximately $62,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Madison Square Garden Sports in the 3rd quarter worth approximately $102,000. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Madison Square Garden Sports by 418.9% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,100 shares of the company’s stock worth $194,000 after purchasing an additional 888 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Madison Square Garden Sports by 7.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 1,152 shares of the company’s stock worth $203,000 after purchasing an additional 81 shares in the last quarter. Finally, Cerity Partners LLC bought a new stake in shares of Madison Square Garden Sports in the 4th quarter worth approximately $206,000. 68.94% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Chairman James Lawrence Dolan sold 8,236 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $190.25, for a total value of $1,566,899.00. Following the completion of the transaction, the chairman now directly owns 221,586 shares in the company, valued at approximately $42,156,736.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Madison Square Garden Sports news, COO David G. Hopkinson sold 937 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $192.21, for a total transaction of $180,100.77. Following the completion of the sale, the chief operating officer now directly owns 2,385 shares in the company, valued at approximately $458,420.85. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman James Lawrence Dolan sold 8,236 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $190.25, for a total transaction of $1,566,899.00. Following the sale, the chairman now owns 221,586 shares of the company’s stock, valued at $42,156,736.50. The disclosure for this sale can be found here. Insiders sold a total of 46,176 shares of company stock worth $8,661,793 in the last three months. Insiders own 22.28% of the company’s stock.

Madison Square Garden Sports Stock Performance

Shares of MSGS traded up $1.18 during mid-day trading on Monday, reaching $187.96. The company had a trading volume of 198,673 shares, compared to its average volume of 126,718. The firm has a 50-day moving average price of $184.77 and a 200 day moving average price of $180.22. Madison Square Garden Sports Corp. has a 52 week low of $164.79 and a 52 week high of $215.79. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 117.47 and a beta of 0.94.

Madison Square Garden Sports (NYSE:MSGS) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.22. Madison Square Garden Sports had a negative return on equity of 11.27% and a net margin of 4.38%. The firm had revenue of $326.90 million for the quarter, compared to analysts’ expectations of $325.86 million. During the same period in the previous year, the firm posted $0.84 EPS. The business’s revenue for the quarter was down 7.6% compared to the same quarter last year. As a group, research analysts forecast that Madison Square Garden Sports Corp. will post 2.11 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 two development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.