Gabelli Funds LLC Sells 3,990 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Gabelli Funds LLC reduced its stake in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 1.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 415,828 shares of the company's stock after selling 3,990 shares during the quarter. Madison Square Garden Sports accounts for approximately 0.7% of Gabelli Funds LLC's portfolio, making the stock its 26th largest holding. Gabelli Funds LLC owned 1.74% of Madison Square Garden Sports worth $93,844,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Advisors Capital Management LLC grew its position in shares of Madison Square Garden Sports by 0.5% during the 4th quarter. Advisors Capital Management LLC now owns 10,606 shares of the company's stock valued at $2,394,000 after acquiring an additional 48 shares during the period. Treasurer of the State of North Carolina grew its holdings in Madison Square Garden Sports by 0.6% during 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 purchasing an additional 50 shares during the period. Quadrant Capital Group LLC increased its position 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 worth $147,000 after buying an additional 55 shares during the last quarter. Allworth Financial LP raised its stake in shares of 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 period. Finally, Versant Capital Management Inc lifted its position in shares of Madison Square Garden Sports by 35.3% during the 4th quarter. Versant Capital Management Inc now owns 234 shares of the company's stock valued at $53,000 after buying an additional 61 shares during the last quarter. Institutional investors own 68.94% of the company's stock.

Wall Street Analyst Weigh In

Separately, 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 research note on Tuesday, February 25th.

Madison Square Garden Sports Stock Performance

MSGS stock traded up $2.69 during midday trading on Friday, reaching $191.52. 72,772 shares of the company's stock traded hands, compared to its average volume of 112,678. 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 50-day moving average price of $195.60 and a two-hundred day moving average price of $212.41. The firm has a market capitalization of $4.60 billion, a PE ratio of 80.81 and a beta of 0.81.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.25). 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 $357.80 million for the quarter, compared to analysts' expectations of $352.68 million. During the same period last year, the company posted $0.59 EPS. The business's revenue for the quarter was up 9.5% on a year-over-year basis. As a group, analysts predict that Madison Square Garden Sports Corp. will post 0.73 EPS for the current fiscal year.

Insider Activity at Madison Square Garden Sports

In other Madison Square Garden Sports 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 sale, the insider now owns 5,097 shares of the company's stock, 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 SEC, which is available at this link. 22.10% of the stock is owned by corporate insiders.

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.