Wealthfront Advisers LLC Purchases New Stake in Madison Square Garden Sports Corp. (NYSE:MSGS)

Wealthfront Advisers LLC bought a new stake in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 67,836 shares of the company's stock, valued at approximately $16,844,000. Wealthfront Advisers LLC owned approximately 0.28% of Madison Square Garden Sports at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Madison Square Garden Sports by 28.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,983 shares of the company's stock valued at $899,000 after purchasing an additional 892 shares during the period. OFI Invest Asset Management bought a new position in shares of Madison Square Garden Sports during the fourth quarter valued at about $1,032,000. Raymond James Financial Inc. bought a new position in Madison Square Garden Sports in the fourth quarter worth about $4,425,000. Proficio Capital Partners LLC purchased a new position in Madison Square Garden Sports during the 4th quarter valued at about $3,413,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Madison Square Garden Sports by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 115,530 shares of the company's stock worth $26,073,000 after buying an additional 3,675 shares during the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Macquarie raised their target price on Madison Square Garden Sports from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Tuesday, February 25th.

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Madison Square Garden Sports Price Performance

Shares of MSGS stock opened at $187.50 on Wednesday. The stock's fifty day moving average price is $210.82 and its 200 day moving average price is $215.82. Madison Square Garden Sports Corp. has a 1-year low of $178.35 and a 1-year high of $237.99. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 79.11 and a beta of 0.91.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $352.68 million. During the same period in the previous year, the company earned $0.59 EPS. Madison Square Garden Sports's revenue was up 9.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current year.

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.

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