GABELLI & Co INVESTMENT ADVISERS INC. Purchases 4,053 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

GABELLI & Co INVESTMENT ADVISERS INC. raised its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 157.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,631 shares of the company’s stock after buying 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 and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Madison Square Garden Sports by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 1,945,194 shares of the company’s stock valued at $438,991,000 after purchasing an additional 33,641 shares during the period. State Street Corp raised its stake in shares of Madison Square Garden Sports by 1.2% during the third quarter. State Street Corp now owns 549,108 shares of the company’s stock worth $114,357,000 after buying an additional 6,640 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Madison Square Garden Sports by 0.7% in the third quarter. Geode Capital Management LLC now owns 273,222 shares of the company’s stock valued at $56,916,000 after buying an additional 1,913 shares during the period. Norges Bank bought a new position in Madison Square Garden Sports in the fourth quarter valued at approximately $54,052,000. Finally, Empirical Asset Management LLC acquired a new stake in Madison Square Garden Sports during the 4th quarter worth $26,120,000. Institutional investors own 68.94% of the company’s stock.

Madison Square Garden Sports Trading Down 0.1 %

Madison Square Garden Sports stock opened at $190.24 on Tuesday. The firm has a market capitalization of $4.57 billion, a P/E ratio of 80.27 and a beta of 0.81. The business has a 50-day moving average of $196.95 and a 200-day moving average of $212.95. Madison Square Garden Sports Corp. has a 1 year low of $173.26 and a 1 year high of $237.99.

Madison Square Garden Sports (NYSE:MSGS) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.05 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 analyst estimates of $352.68 million. During the same period in the previous year, the business posted $0.59 EPS. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. Research analysts anticipate that Madison Square Garden Sports Corp. will post 0.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other Madison Square Garden Sports news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of Madison Square Garden Sports 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 sale, the insider now owns 5,097 shares of the company’s stock, valued at $968,022.24. This trade represents a 86.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 22.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Macquarie raised 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 Company 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.