OFI Invest Asset Management Takes $1.03 Million Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

OFI Invest Asset Management bought a new position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,733 shares of the company's stock, valued at approximately $1,032,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MSGS. Empirical Asset Management LLC purchased a new position in Madison Square Garden Sports during the 4th quarter valued at about $26,120,000. Tabor Asset Management LP purchased a new position in Madison Square Garden Sports during the third quarter valued at approximately $5,558,000. Algert Global LLC raised its stake in Madison Square Garden Sports by 535.4% in the third quarter. Algert Global LLC now owns 31,459 shares of the company's stock worth $6,552,000 after buying an additional 26,508 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Madison Square Garden Sports by 526.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 27,101 shares of the company's stock worth $5,644,000 after buying an additional 22,772 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Madison Square Garden Sports during the 4th quarter valued at $4,425,000. Institutional investors own 68.94% of the company's stock.

Madison Square Garden Sports Price Performance

Shares of MSGS stock traded down $2.60 during mid-day trading on Thursday, hitting $185.85. 154,457 shares of the stock traded hands, compared to its average volume of 103,486. The stock's fifty day moving average is $210.08 and its two-hundred day moving average is $215.63. Madison Square Garden Sports Corp. has a 52-week low of $178.35 and a 52-week high of $237.99. The stock has a market cap of $4.46 billion, a P/E ratio of 78.42 and a beta of 0.91.

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Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.25). Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. The firm had revenue of $357.80 million during the quarter, compared to analyst estimates of $352.68 million. During the same quarter last year, the business earned $0.59 earnings per share. Madison Square Garden Sports's revenue was up 9.5% on a year-over-year basis. As a group, equities analysts forecast that Madison Square Garden Sports Corp. will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling

In other Madison Square Garden Sports news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $189.92, for a total transaction of $6,044,204.00. Following the sale, the insider now owns 5,097 shares of the company's stock, valued at approximately $968,022.24. The trade was a 86.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 22.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Macquarie boosted their price target on 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.

Madison Square Garden Sports 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 development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.