Baird Financial Group Inc. Invests $8.08 Million in Madison Square Garden Sports Corp. (NYSE:MSGS)

Baird Financial Group Inc. purchased a new stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,784 shares of the company's stock, valued at approximately $8,076,000. Baird Financial Group Inc. owned 0.15% of Madison Square Garden Sports at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Balyasny Asset Management L.P. lifted its stake in Madison Square Garden Sports by 89.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 127,556 shares of the company's stock worth $28,787,000 after purchasing an additional 60,112 shares during the period. Freestone Grove Partners LP acquired a new stake in shares of Madison Square Garden Sports in the fourth quarter valued at approximately $273,000. One68 Global Capital LLC acquired a new stake in shares of Madison Square Garden Sports in the fourth quarter valued at approximately $1,241,000. Kapitalo Investimentos Ltda bought a new position in Madison Square Garden Sports in the fourth quarter valued at approximately $92,000. Finally, Voleon Capital Management LP bought a new position in shares of Madison Square Garden Sports during the fourth quarter worth $1,821,000. 68.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MSGS has been the topic of several research reports. Susquehanna initiated coverage on shares of Madison Square Garden Sports in a research report on Monday, April 28th. They issued a "positive" rating and a $254.00 price objective on the stock. Morgan Stanley cut their price objective on shares of Madison Square Garden Sports from $235.00 to $215.00 and set an "equal weight" rating on the stock in a research report on Monday, May 5th. Macquarie boosted their price objective on shares of 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. Guggenheim reaffirmed a "buy" rating and issued a $314.00 price objective on shares of Madison Square Garden Sports in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Madison Square Garden Sports from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $252.60.

Madison Square Garden Sports Price Performance

MSGS stock traded up $3.33 during midday trading on Monday, hitting $195.13. The company's stock had a trading volume of 105,838 shares, compared to its average volume of 113,434. The stock has a market capitalization of $4.69 billion, a P/E ratio of 82.33 and a beta of 0.78. The company's fifty day moving average price is $191.27 and its 200 day moving average price is $209.65. 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 announced its quarterly earnings results on Friday, May 2nd. The company reported ($0.59) EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($2.07). Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. The company had revenue of $424.20 million during the quarter, compared to analyst estimates of $436.84 million. During the same quarter last year, the company posted $1.57 EPS. The firm's quarterly revenue was down 1.3% on a year-over-year basis. Equities analysts expect that Madison Square Garden Sports Corp. will post 0.73 EPS for the current fiscal year.

Insider Activity 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 dated Monday, March 10th. The shares were sold at an average price of $189.92, for a total transaction of $6,044,204.00. Following the transaction, the insider now directly owns 5,097 shares of the company's stock, valued at $968,022.24. This trade represents a 86.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 18.05% of the stock is owned by insiders.

About Madison Square Garden Sports

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.