Lazard Asset Management LLC Takes $1.37 Million Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Lazard Asset Management LLC acquired a new stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 6,091 shares of the company's stock, valued at approximately $1,374,000.

A number of other hedge funds have also recently modified their holdings of MSGS. Barclays PLC grew its position in shares of Madison Square Garden Sports by 8.4% during the 3rd quarter. Barclays PLC now owns 14,668 shares of the company's stock valued at $3,056,000 after acquiring an additional 1,131 shares during the period. Park Avenue Securities LLC grew its position in shares of Madison Square Garden Sports by 8.6% during the 4th quarter. Park Avenue Securities LLC now owns 4,263 shares of the company's stock valued at $962,000 after acquiring an additional 339 shares during the period. Herbst Group LLC grew its position in shares of Madison Square Garden Sports by 16.5% during the 4th quarter. Herbst Group LLC now owns 15,617 shares of the company's stock valued at $3,524,000 after acquiring an additional 2,212 shares during the period. SG Americas Securities LLC bought a new stake in shares of Madison Square Garden Sports during the 4th quarter valued at $685,000. Finally, Exchange Traded Concepts LLC grew its position in shares of Madison Square Garden Sports by 4.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 8,725 shares of the company's stock valued at $1,969,000 after acquiring an additional 354 shares during the period. Institutional investors own 68.94% of the company's stock.

Madison Square Garden Sports Stock Up 0.5%

MSGS opened at $197.69 on Monday. The firm has a 50-day simple moving average of $191.47 and a two-hundred day simple moving average of $208.74. Madison Square Garden Sports Corp. has a 52 week low of $173.26 and a 52 week high of $237.99. The company has a market capitalization of $4.75 billion, a PE ratio of 83.42 and a beta of 0.78.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The company reported ($0.59) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $436.84 million. During the same period last year, the company earned $1.57 EPS. The firm's revenue for the quarter was down 1.3% on a year-over-year basis. As a group, sell-side analysts expect that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MSGS shares. Guggenheim reissued a "buy" rating and set a $314.00 price objective on shares of Madison Square Garden Sports in a research report on Tuesday, May 6th. JPMorgan Chase & Co. dropped their target price on shares of 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. Susquehanna started coverage on shares of Madison Square Garden Sports in a report on Monday, April 28th. They issued a "positive" rating and a $254.00 target price for the company. Morgan Stanley dropped their target price on shares of Madison Square Garden Sports from $235.00 to $215.00 and set an "equal weight" rating for the company in a report on Monday, May 5th. Finally, Macquarie upped their target price on shares of Madison Square Garden Sports from $240.00 to $250.00 and gave the stock an "outperform" rating in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $252.60.

Insider Buying and Selling at Madison Square Garden Sports

In other news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the company'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 sale, the insider now directly owns 5,097 shares in the company, valued at approximately $968,022.24. This represents a 86.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 18.05% of the company's stock.

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.

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