Lazard Asset Management LLC Takes Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Lazard Asset Management LLC bought a new position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,091 shares of the company's stock, valued at approximately $1,374,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MSGS. Advisors Capital Management LLC increased its holdings in Madison Square Garden Sports by 0.5% in the fourth quarter. Advisors Capital Management LLC now owns 10,606 shares of the company's stock valued at $2,394,000 after buying an additional 48 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in Madison Square Garden Sports by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 8,172 shares of the company's stock valued at $1,844,000 after buying an additional 50 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Madison Square Garden Sports by 9.2% in the fourth quarter. Quadrant Capital Group LLC now owns 650 shares of the company's stock valued at $147,000 after buying an additional 55 shares during the last quarter. Allworth Financial LP increased its holdings in Madison Square Garden Sports by 81.4% in the fourth quarter. Allworth Financial LP now owns 127 shares of the company's stock valued at $28,000 after buying an additional 57 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in Madison Square Garden Sports by 2.2% in the fourth quarter. NewEdge Advisors LLC now owns 2,914 shares of the company's stock valued at $658,000 after buying an additional 62 shares during the last quarter. 68.94% of the stock is owned by hedge funds and other institutional investors.

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 that occurred on 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 directly owns 5,097 shares in the company, valued at $968,022.24. This trade represents a 86.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.05% of the stock is owned by insiders.

Madison Square Garden Sports Stock Performance

Shares of Madison Square Garden Sports stock traded up $0.47 on Friday, reaching $190.72. 79,208 shares of the company were exchanged, compared to its average volume of 113,307. The company's 50-day moving average is $191.91 and its two-hundred day moving average is $207.90. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 80.47 and a beta of 0.78. 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 - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The company reported ($0.59) earnings per share for the quarter, missing analysts' consensus estimates of $1.48 by ($2.07). The company had revenue of $424.20 million for the quarter, compared to analyst estimates of $436.84 million. Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The firm's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.57 earnings per share. As a group, sell-side analysts forecast that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on MSGS shares. Susquehanna started coverage on Madison Square Garden Sports in a report on Monday, April 28th. They issued a "positive" rating and a $254.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on Madison Square Garden Sports from $240.00 to $230.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Macquarie boosted their price objective on Madison Square Garden Sports from $240.00 to $250.00 and gave the company an "outperform" rating in a report on Tuesday, February 25th. Guggenheim reiterated a "buy" rating and set a $314.00 price target on shares of Madison Square Garden Sports in a research report on Tuesday, May 6th. Finally, Morgan Stanley dropped their price target on 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. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $252.60.

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.