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The Charles F. Dolan 2009 Revocable Trust recently executed a series of stock sales involving Madison Square Garden Sports Corp. (NYSE:MSGS), according to a filing with the Securities and Exchange Commission. The transactions, dated March 10 and 11, 2025, involved the sale of 33,506 shares of Class A Common Stock, totaling approximately $7,003,413. The sales come as MSGS, with a market capitalization of $4.52 billion, trades near its 52-week low of $178.35, with technical indicators suggesting oversold conditions according to InvestingPro analysis.
The sales were executed at prices ranging from $187.27 to $195.41 per share. Following these transactions, the trust’s holdings in Madison Square Garden Sports Corp. have been reduced significantly.
These transactions were disclosed in a Form 4 filing, which is used to report changes in ownership of a company’s stock by insiders. The Charles F. Dolan 2009 Revocable Trust is noted as a member of a 13(d) group, indicating a significant ownership stake in the company.
In other recent news, Madison Square Garden Sports reported revenues of $357.8 million for the second quarter of fiscal year 2025, surpassing analyst expectations and showing a year-over-year increase from $326.9 million. Despite this revenue success, the company’s earnings per share (EPS) fell short, registering at $0.05 compared to the anticipated $0.46. Macquarie analyst Paul Golding subsequently raised the price target for MSG Sports to $250, maintaining an Outperform rating, following the revenue beat. However, the company’s Adjusted Operating Income (AOI) experienced a significant decline, dropping to $20.2 million from $37 million in the previous year, primarily due to increased operating expenses.
MSG Sports has also been navigating a challenging media rights environment, with ongoing renegotiations and potential reductions in local media rights fees. The company remains confident in its long-term trajectory, bolstered by strong fan engagement and innovative marketing partnerships, including new deals with Verizon (NYSE:VZ) and Lenovo. Additionally, MSG Sports reported a robust cash position with over $100 million on hand and access to a $250 million revolving credit facility. The company’s sponsorship performance has been strong, driven by new agreements and renewals, and the broader market for live sports continues to show growth potential.
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