GAMMA Investing LLC Has $26.73 Million Stake in Madison Square Garden Sports Corp. (NYSE:MSGS)

GAMMA Investing LLC raised its stake in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 14,886.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,278 shares of the company's stock after acquiring an additional 136,362 shares during the period. GAMMA Investing LLC owned approximately 0.57% of Madison Square Garden Sports worth $26,731,000 at the end of the most recent quarter.

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

Madison Square Garden Sports Stock Performance

Shares of Madison Square Garden Sports stock traded up $1.41 on Friday, hitting $191.16. The stock had a trading volume of 102,709 shares, compared to its average volume of 113,539. The stock has a 50 day moving average of $190.56 and a 200 day moving average of $205.89. The firm has a market capitalization of $4.59 billion, a P/E ratio of 80.66 and a beta of 0.77. 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) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($2.07). The business had revenue of $424.20 million during the quarter, compared to analyst estimates of $436.84 million. Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. The company's revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.57 earnings per share. Equities analysts expect that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current year.

Insiders Place Their Bets

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 completion of 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 sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 18.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Guggenheim reaffirmed a "buy" rating and issued a $314.00 price objective on shares of Madison Square Garden Sports in a research note on Tuesday, May 6th. Morgan Stanley reduced their price target 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 note on Monday, May 5th. Macquarie upped their price objective 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. JPMorgan Chase & Co. dropped their price objective on shares of 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. Finally, 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 target price on the stock. 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 company currently has a consensus rating of "Moderate Buy" and an average target price of $252.60.

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.