GABELLI & Co INVESTMENT ADVISERS INC. raised its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 157.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,631 shares of the company's stock after purchasing an additional 4,053 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC.'s holdings in Madison Square Garden Sports were worth $1,496,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also made changes to their positions in MSGS. Allworth Financial LP boosted its position in Madison Square Garden Sports by 81.4% during the 4th quarter. Allworth Financial LP now owns 127 shares of the company's stock valued at $28,000 after acquiring an additional 57 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Madison Square Garden Sports by 119.0% during the 4th quarter. Fifth Third Bancorp now owns 138 shares of the company's stock worth $31,000 after purchasing an additional 75 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in Madison Square Garden Sports during the fourth quarter valued at about $43,000. Versant Capital Management Inc raised its holdings in Madison Square Garden Sports by 35.3% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the company's stock worth $53,000 after purchasing an additional 61 shares in the last quarter. Finally, Headlands Technologies LLC lifted its position in shares of Madison Square Garden Sports by 1,016.7% during the fourth quarter. Headlands Technologies LLC now owns 268 shares of the company's stock valued at $60,000 after buying an additional 244 shares during the last quarter. 68.94% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, Macquarie lifted their price objective on shares of 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.
Read Our Latest Stock Report on MSGS
Insiders Place Their Bets
In other news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $189.92, for a total value of $6,044,204.00. Following the transaction, the insider now directly owns 5,097 shares of the company's stock, valued at approximately $968,022.24. This represents a 86.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 22.10% of the company's stock.
Madison Square Garden Sports Stock Up 1.4 %
Shares of Madison Square Garden Sports stock traded up $2.69 during trading on Friday, reaching $191.52. The company's stock had a trading volume of 72,772 shares, compared to its average volume of 112,568. The company has a 50-day simple moving average of $195.60 and a two-hundred day simple moving average of $212.41. Madison Square Garden Sports Corp. has a 1-year low of $173.26 and a 1-year high of $237.99. The company has a market cap of $4.60 billion, a price-to-earnings ratio of 80.81 and a beta of 0.81.
Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.25). The business had revenue of $357.80 million for the quarter, compared to analysts' expectations of $352.68 million. Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. Madison Square Garden Sports's revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 EPS. As a group, analysts anticipate that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current year.
Madison Square Garden Sports Company Profile
(
Free Report)
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.
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