Tabor Asset Management LP Acquires 27,032 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Tabor Asset Management LP increased its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 101.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,721 shares of the company's stock after purchasing an additional 27,032 shares during the period. Madison Square Garden Sports makes up approximately 5.8% of Tabor Asset Management LP's portfolio, making the stock its 2nd largest position. Tabor Asset Management LP owned about 0.22% of Madison Square Garden Sports worth $12,124,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Madison Square Garden Sports by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 1,945,194 shares of the company's stock valued at $438,991,000 after purchasing an additional 33,641 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Madison Square Garden Sports by 1,854.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 498,607 shares of the company's stock valued at $112,526,000 after buying an additional 473,090 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Madison Square Garden Sports by 16.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 255,339 shares of the company's stock valued at $57,625,000 after acquiring an additional 36,799 shares during the period. Norges Bank purchased a new stake in shares of Madison Square Garden Sports during the 4th quarter worth approximately $54,052,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Madison Square Garden Sports by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 222,090 shares of the company's stock worth $50,124,000 after acquiring an additional 9,979 shares in the last quarter. Institutional investors and hedge funds own 68.94% of the company's stock.

Insider Buying and Selling at Madison Square Garden Sports

In other news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the firm's stock in a transaction dated 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 transaction, 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 document filed with the SEC, which is available through this hyperlink. 18.05% of the stock is owned by company insiders.

Madison Square Garden Sports Stock Performance

NYSE MSGS traded down $0.80 during trading hours on Thursday, hitting $190.33. 135,286 shares of the company's stock were exchanged, compared to its average volume of 113,324. The firm has a market capitalization of $4.57 billion, a P/E ratio of 80.31 and a beta of 0.78. The business's 50 day moving average is $191.94 and its 200-day moving average is $208.38. Madison Square Garden Sports Corp. has a 12-month low of $173.26 and a 12-month high of $237.99.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last released its earnings results on Friday, May 2nd. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($2.07). Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The company had revenue of $424.20 million during the quarter, compared to analyst estimates of $436.84 million. During the same period in the prior year, the business posted $1.57 earnings per share. Madison Square Garden Sports's revenue was down 1.3% on a year-over-year basis. As a group, equities research analysts anticipate that Madison Square Garden Sports Corp. will post 0.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on MSGS. Morgan Stanley lowered 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 report on Monday, May 5th. Susquehanna started coverage on shares of Madison Square Garden Sports in a research note on Monday, April 28th. They set a "positive" rating and a $254.00 price target on the stock. Guggenheim reiterated a "buy" rating and set a $314.00 price target on shares of Madison Square Garden Sports in a report on Tuesday, May 6th. JPMorgan Chase & Co. reduced 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 note on Monday, May 5th. Finally, Macquarie raised 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 research report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $252.60.

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.