Gotham Asset Management LLC Grows Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

Gotham Asset Management LLC raised its position in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 7.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,709 shares of the company's stock after purchasing an additional 3,979 shares during the quarter. Gotham Asset Management LLC owned 0.25% of Madison Square Garden Sports worth $13,249,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. lifted its stake in shares of Madison Square Garden Sports by 1,854.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 498,607 shares of the company's stock worth $112,526,000 after acquiring an additional 473,090 shares during the last quarter. Norges Bank purchased a new stake in shares of Madison Square Garden Sports during the fourth quarter valued at $54,052,000. Empirical Asset Management LLC bought a new position in shares of Madison Square Garden Sports in the fourth quarter worth about $26,120,000. Wealthfront Advisers LLC purchased a new position in Madison Square Garden Sports in the 4th quarter worth about $16,844,000. Finally, Balyasny Asset Management L.P. lifted its holdings in Madison Square Garden Sports by 89.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 127,556 shares of the company's stock valued at $28,787,000 after buying an additional 60,112 shares in the last quarter. Hedge funds and other institutional investors own 68.94% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $189.92, for a total transaction of $6,044,204.00. Following the sale, the insider now owns 5,097 shares in the company, valued at approximately $968,022.24. The trade was a 86.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 18.05% of the company's stock.

Madison Square Garden Sports Price Performance

Shares of MSGS stock opened at $191.78 on Friday. The stock's 50-day moving average is $191.27 and its 200 day moving average is $209.70. Madison Square Garden Sports Corp. has a 1-year low of $173.26 and a 1-year high of $237.99. The company has a market cap of $4.60 billion, a P/E ratio of 80.92 and a beta of 0.78.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $424.20 million during the quarter, compared to analysts' expectations of $436.84 million. During the same period in the previous year, the firm earned $1.57 EPS. The firm's quarterly revenue was down 1.3% on a year-over-year basis. On average, analysts anticipate that Madison Square Garden Sports Corp. will post 0.73 EPS for the current year.

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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