Zacks Investment Management Makes New Investment in Madison Square Garden Sports Corp. (NYSE:MSGS)

Zacks Investment Management bought a new stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,619 shares of the company's stock, valued at approximately $365,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Madison Square Garden Sports by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 1,945,194 shares of the company's stock worth $438,991,000 after acquiring an additional 33,641 shares in the last quarter. Geode Capital Management LLC grew its stake in Madison Square Garden Sports by 0.7% during the third quarter. Geode Capital Management LLC now owns 273,222 shares of the company's stock worth $56,916,000 after buying an additional 1,913 shares during the period. Norges Bank purchased a new position in Madison Square Garden Sports in the 4th quarter worth approximately $54,052,000. Empirical Asset Management LLC purchased a new position in Madison Square Garden Sports in the fourth quarter valued at about $26,120,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Madison Square Garden Sports by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 115,530 shares of the company's stock worth $26,073,000 after purchasing an additional 3,675 shares during the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Madison Square Garden Sports

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the firm'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 value of $6,044,204.00. Following the completion of the transaction, the insider now directly owns 5,097 shares of the company's stock, valued at approximately $968,022.24. This trade represents a 86.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 22.10% of the company's stock.

Madison Square Garden Sports Price Performance

Shares of MSGS traded up $0.17 during mid-day trading on Friday, reaching $191.91. The company had a trading volume of 36,215 shares, compared to its average volume of 112,762. The company has a market capitalization of $4.61 billion, a P/E ratio of 80.97 and a beta of 0.81. The company's 50-day moving average is $193.82 and its 200-day moving average is $211.70. 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 posted 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 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 prior year, the firm posted $0.59 earnings per share. The business's revenue was up 9.5% on a year-over-year basis. As a group, equities analysts expect that Madison Square Garden Sports Corp. will post 0.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Macquarie increased their price objective on Madison Square Garden Sports from $240.00 to $250.00 and gave the company 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.