Raymond James Financial Inc. acquired a new position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 19,609 shares of the company's stock, valued at approximately $4,425,000. Raymond James Financial Inc. owned about 0.08% of Madison Square Garden Sports at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP raised its holdings 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 buying an additional 57 shares during the period. Fifth Third Bancorp raised its stake in shares of Madison Square Garden Sports by 119.0% in the fourth quarter. Fifth Third Bancorp now owns 138 shares of the company's stock valued at $31,000 after acquiring an additional 75 shares during the period. Heck Capital Advisors LLC bought a new stake in shares of Madison Square Garden Sports in the 4th quarter worth about $43,000. Versant Capital Management Inc boosted its stake in shares of Madison Square Garden Sports by 35.3% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the company's stock worth $53,000 after purchasing an additional 61 shares during the period. Finally, Headlands Technologies LLC grew its holdings in Madison Square Garden Sports by 1,016.7% during the 4th quarter. Headlands Technologies LLC now owns 268 shares of the company's stock valued at $60,000 after purchasing an additional 244 shares during the last quarter. 68.94% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages have issued reports on MSGS. Susquehanna assumed coverage on shares of Madison Square Garden Sports in a research note on Monday. They issued a "positive" rating and a $254.00 price objective for the company. Macquarie lifted their target price 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.
Read Our Latest Analysis on MSGS
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 dated Monday, March 10th. The shares were sold at an average price of $189.92, for a total value of $6,044,204.00. Following the completion of the transaction, the insider now directly owns 5,097 shares in the company, valued at approximately $968,022.24. The trade was a 86.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 22.10% of the stock is currently owned by insiders.
Madison Square Garden Sports Trading Down 0.9 %
Shares of NYSE MSGS traded down $1.84 during trading hours on Tuesday, reaching $193.56. The stock had a trading volume of 157,027 shares, compared to its average volume of 113,308. The business's fifty day moving average price is $193.30 and its two-hundred day moving average price is $211.36. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 81.67 and a beta of 0.81. Madison Square Garden Sports Corp. has a 52-week low of $173.26 and a 52-week high of $237.99.
Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.25). Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The business had revenue of $357.80 million for the quarter, compared to the consensus estimate of $352.68 million. During the same quarter in the previous year, the company earned $0.59 earnings per share. The firm's revenue was up 9.5% on a year-over-year basis. Equities research analysts anticipate that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current fiscal year.
Madison Square Garden Sports 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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