Madison Square Garden Sports Corp. (NYSE:MSGS) Shares Acquired by Systematic Financial Management LP

Systematic Financial Management LP boosted its position in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,249 shares of the company's stock after acquiring an additional 1,922 shares during the quarter. Systematic Financial Management LP owned 0.53% of Madison Square Garden Sports worth $28,492,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MSGS. T. Rowe Price Investment Management Inc. boosted its stake 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 acquiring an additional 473,090 shares during the period. Norges Bank acquired a new stake in Madison Square Garden Sports in the fourth quarter worth approximately $54,052,000. Empirical Asset Management LLC bought a new position in shares of Madison Square Garden Sports in the fourth quarter valued at $26,120,000. Wealthfront Advisers LLC bought a new position in shares of Madison Square Garden Sports in the fourth quarter valued at $16,844,000. Finally, Balyasny Asset Management L.P. increased its holdings in shares of Madison Square Garden Sports by 89.1% in the fourth 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. Institutional investors and hedge funds own 68.94% of the company's stock.

Analyst Upgrades and Downgrades

MSGS has been the topic of a number of research reports. Guggenheim reaffirmed a "buy" rating and issued a $314.00 price target on shares of Madison Square Garden Sports in a research note on Tuesday, May 6th. Susquehanna began coverage on shares of Madison Square Garden Sports in a report on Monday, April 28th. They set a "positive" rating and a $254.00 price target for the company. Morgan Stanley cut their price objective on shares of Madison Square Garden Sports from $235.00 to $215.00 and set an "equal weight" rating for the company in a research report on Monday, May 5th. JPMorgan Chase & Co. cut 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 report on Monday, May 5th. Finally, Macquarie increased their price target 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 investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Madison Square Garden Sports presently has an average rating of "Moderate Buy" and a consensus target price of $252.60.

Madison Square Garden Sports Stock Performance

Shares of MSGS stock opened at $197.69 on Friday. Madison Square Garden Sports Corp. has a 52-week low of $173.26 and a 52-week high of $237.99. The stock has a market cap of $4.75 billion, a PE ratio of 83.42 and a beta of 0.78. The firm's 50 day moving average price is $191.47 and its two-hundred day moving average price is $208.94.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last issued its quarterly earnings data 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 negative return on equity of 20.50% and a net margin of 5.33%. The company had revenue of $424.20 million for the quarter, compared to analyst estimates of $436.84 million. During the same quarter in the previous year, the business earned $1.57 earnings per share. The company's revenue was down 1.3% on a year-over-year basis. As a group, sell-side analysts predict that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Madison Square Garden Sports

In other news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of Madison Square Garden Sports stock in a transaction dated 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 completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 18.05% of the company's stock.

Madison Square Garden Sports 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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