T. Rowe Price Investment Management Inc. Has $112.53 Million Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

T. Rowe Price Investment Management Inc. lifted its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 1,854.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 498,607 shares of the company's stock after purchasing an additional 473,090 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 2.08% of Madison Square Garden Sports worth $112,526,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Allworth Financial LP increased its stake in Madison Square Garden Sports by 81.4% in the 4th quarter. Allworth Financial LP now owns 127 shares of the company's stock worth $28,000 after purchasing an additional 57 shares in the last quarter. Fifth Third Bancorp raised 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 in the last quarter. Heck Capital Advisors LLC bought a new position in Madison Square Garden Sports during the fourth quarter valued at about $43,000. Versant Capital Management Inc grew its holdings in Madison Square Garden Sports by 35.3% during the fourth quarter. Versant Capital Management Inc now owns 234 shares of the company's stock valued at $53,000 after purchasing an additional 61 shares during the last quarter. Finally, Headlands Technologies LLC grew its stake in Madison Square Garden Sports by 1,016.7% in the 4th 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 institutional investors.

Madison Square Garden Sports Price Performance

Shares of NYSE MSGS traded up $3.52 during trading hours on Monday, reaching $195.68. The stock had a trading volume of 134,845 shares, compared to its average volume of 113,133. The company has a market cap of $4.70 billion, a price-to-earnings ratio of 82.57 and a beta of 0.81. The business's fifty day moving average is $193.53 and its two-hundred day moving average is $211.50. Madison Square Garden Sports Corp. has a twelve month low of $173.26 and a twelve month high of $237.99.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last released its quarterly earnings data 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 company had revenue of $357.80 million for the quarter, compared to analyst estimates of $352.68 million. Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. The firm's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 earnings per share. Sell-side analysts forecast that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MSGS. Susquehanna started coverage on Madison Square Garden Sports in a research note on Monday. They issued a "positive" rating and a $254.00 price objective on the stock. Macquarie upped their target price on shares of Madison Square Garden Sports from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Tuesday, February 25th.

Insider Activity

In other news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the stock in a transaction on Monday, March 10th. The stock was 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 in the company, 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 this link. 22.10% of the stock is owned by corporate insiders.

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.