Mackenzie Financial Corp Buys Shares of 42,719 Madison Square Garden Sports Corp. (NYSE:MSGS)

Mackenzie Financial Corp bought a new position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 42,719 shares of the company's stock, valued at approximately $9,641,000. Mackenzie Financial Corp owned about 0.18% of Madison Square Garden Sports at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in shares of Madison Square Garden Sports by 81.4% during the fourth quarter. Allworth Financial LP now owns 127 shares of the company's stock worth $28,000 after acquiring an additional 57 shares during the period. Fifth Third Bancorp boosted its stake in shares of Madison Square Garden Sports by 119.0% during the fourth quarter. Fifth Third Bancorp now owns 138 shares of the company's stock worth $31,000 after buying an additional 75 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of Madison Square Garden Sports during the fourth quarter worth about $43,000. Headlands Technologies LLC raised its holdings in Madison Square Garden Sports by 1,016.7% during the fourth quarter. Headlands Technologies LLC now owns 268 shares of the company's stock worth $60,000 after purchasing an additional 244 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Madison Square Garden Sports by 423.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 272 shares of the company's stock worth $62,000 after purchasing an additional 220 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Madison Square Garden Sports Price Performance

MSGS traded up $0.21 during mid-day trading on Friday, hitting $189.84. The stock had a trading volume of 114,113 shares, compared to its average volume of 113,534. Madison Square Garden Sports Corp. has a 1-year low of $173.26 and a 1-year high of $237.99. The stock's fifty day simple moving average is $191.15 and its 200-day simple moving average is $206.53. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 80.10 and a beta of 0.78.

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. As a group, research analysts expect that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MSGS shares. Morgan Stanley reduced their target price on Madison Square Garden Sports from $235.00 to $215.00 and set an "equal weight" rating on the stock in a research note on Monday, May 5th. Guggenheim reiterated a "buy" rating and issued a $314.00 price target on shares of Madison Square Garden Sports in a report on Tuesday, May 6th. Susquehanna assumed coverage on Madison Square Garden Sports in a research note on Monday, April 28th. They set a "positive" rating and a $254.00 target price for the company. Macquarie raised their target price on Madison Square Garden Sports from $240.00 to $250.00 and gave the company an "outperform" rating in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. decreased their price target on Madison Square Garden Sports from $240.00 to $230.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $252.60.

Insider Activity at Madison Square Garden Sports

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the business's stock in a transaction 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 transaction, the insider now owns 5,097 shares in the company, valued at $968,022.24. The trade was a 86.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 18.05% of the stock is currently 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.