BlackRock Amends MSG Sports Stake, Signals Passive Investment Update
Ticker: MSGS · Form: SC 13G/A · Filed: 2024-01-24T00:00:00.000Z
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
Related Tickers: MSGS
TL;DR
**BlackRock updated its passive stake in MSG Sports, a minor but notable change.**
AI Summary
BlackRock Inc. filed an amended Schedule 13G/A on January 24, 2024, indicating a change in its ownership of Madison Square Garden Sports Corp. Class A Common Stock as of December 31, 2023. This filing, an amendment to a previous disclosure, shows BlackRock's updated passive investment position in the company that owns the New York Knicks and Rangers. This matters to investors because BlackRock is a major institutional investor, and changes in its holdings can signal shifts in its confidence or investment strategy regarding MSG Sports, potentially influencing other investors.
Why It Matters
Large institutional investors like BlackRock often influence market sentiment; their updated holdings can signal confidence or a shift in strategy for Madison Square Garden Sports Corp.
Risk Assessment
Risk Level: low — This filing is a routine update from a passive investor and does not indicate any immediate or significant risk to the company or its stock.
Analyst Insight
Investors should note BlackRock's continued passive interest in MSG Sports but recognize this routine amendment doesn't signal a major shift. It's a good reminder to track institutional ownership changes as part of a broader due diligence process.
Key Numbers
- 0001364742 — BlackRock Inc.'s CIK (identifies BlackRock Inc. in SEC filings)
- 0001636519 — Madison Square Garden Sports Corp.'s CIK (identifies Madison Square Garden Sports Corp. in SEC filings)
- 005-89135 — SEC File Number (identifies the specific SEC registration for Madison Square Garden Sports Corp.)
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- Madison Square Garden Sports Corp. (company) — the subject company whose Class A Common Stock is being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 24, 2024 (date) — the filing date of the SC 13G/A
- 55825T103 (number) — the CUSIP number for Madison Square Garden Sports Co Class A Common Stock
Forward-Looking Statements
- BlackRock will maintain a passive investment strategy in Madison Square Garden Sports Corp. (BlackRock Inc.) — high confidence, target: Q2 2024
- Madison Square Garden Sports Corp. stock price will not be significantly impacted by this routine filing. (Madison Square Garden Sports Corp.) — high confidence, target: February 2024
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, indicating a change in beneficial ownership by a passive investor.
Who is the filer of this SC 13G/A?
The filer of this SC 13G/A is BlackRock Inc., a major institutional investment manager.
What company's stock is the subject of this filing?
The subject company is Madison Square Garden Sports Corp., specifically its Class A Common Stock.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as stated in the filing.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b), which typically applies to institutional investors holding less than 20% of a company's stock with a passive investment intent.
From the Filing
EDGAR Filing Documents for 0001086364-24-002001 This page uses Javascript. Your browser either doesn't support Javascript or you have it turned off. To see this page as it is meant to appear please use a Javascript enabled browser. SEC.gov EDGAR Latest Filings Filings search tools Filing Detail SEC Home Company Search Current Page Form SC 13G/A - Statement of Beneficial Ownership by Certain Investors: [Amend] SEC Accession No. 0001086364-24-002001 Filing Date 2024-01-24 Accepted 2024-01-24 09:46:40 Documents 1 Document Format Files Seq Description Document Type Size 1 us55825t1034_012324.txt SC 13G/A 11737 Complete submission text file 0001086364-24-002001.txt 13861 Mailing Address 50 HUDSON YARDS NEW YORK NY 10001 Business Address 50 HUDSON YARDS NEW YORK NY 10001 212-810-5300 BlackRock Inc. (Filed by) CIK : 0001364742 (see all company filings) EIN. : 320174431 | State of Incorp.: DE | Fiscal Year End: 1231 Type: SC 13G/A SIC : 6211 Security Brokers, Dealers & Flotation Companies (CF Office: 02 Finance) Mailing Address TWO PENNSYLVANIA PLAZA NEW YORK NY 10121 Business Address TWO PENNSYLVANIA PLAZA NEW YORK NY 10121 212-465-4111 Madison Square Garden Sports Corp. (Subject) CIK : 0001636519 (see all company filings) EIN. : 473373056 | State of Incorp.: DE | Fiscal Year End: 0630 Type: SC 13G/A | Act: 34 | File No.: 005-89135 | Film No.: 24554590 SIC : 7990 Services-Miscellaneous Amusement & Recreation (CF Office: 07 Trade & Services)