Balyasny Asset Management L.P. Grows Stake in Madison Square Garden Sports Corp. (NYSE:MSGS)

Balyasny Asset Management L.P. boosted its position in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 89.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 127,556 shares of the company's stock after acquiring an additional 60,112 shares during the period. Balyasny Asset Management L.P. owned 0.53% of Madison Square Garden Sports worth $28,787,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MSGS. Allworth Financial LP boosted its holdings in Madison Square Garden Sports by 81.4% in the fourth quarter. Allworth Financial LP now owns 127 shares of the company's stock worth $28,000 after acquiring an additional 57 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Madison Square Garden Sports by 119.0% in the fourth quarter. Fifth Third Bancorp now owns 138 shares of the company's stock worth $31,000 after acquiring an additional 75 shares in the last quarter. Heck Capital Advisors LLC bought a new position in Madison Square Garden Sports in the fourth quarter worth approximately $43,000. Headlands Technologies LLC boosted its holdings in Madison Square Garden Sports by 1,016.7% in the fourth quarter. Headlands Technologies LLC now owns 268 shares of the company's stock worth $60,000 after acquiring an additional 244 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Madison Square Garden Sports by 423.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 272 shares of the company's stock worth $62,000 after acquiring an additional 220 shares in the last quarter. Institutional investors own 68.94% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on MSGS. Susquehanna began coverage on Madison Square Garden Sports in a research note on Monday, April 28th. They issued a "positive" rating and a $254.00 price objective for the company. Guggenheim reissued 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 lowered their price objective on Madison Square Garden Sports from $235.00 to $215.00 and set an "equal weight" rating for the company in a research note on Monday, May 5th. JPMorgan Chase & Co. lowered their price objective on 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, Macquarie increased their price objective on Madison Square Garden Sports from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $252.60.

Madison Square Garden Sports Trading Up 1.7%

Shares of NYSE:MSGS traded up $3.17 during midday trading on Monday, reaching $194.97. The company had a trading volume of 19,884 shares, compared to its average volume of 113,097. The company's 50 day moving average price is $191.27 and its 200 day moving average price is $209.65. The stock has a market cap of $4.68 billion, a P/E ratio of 82.19 and a beta of 0.78. Madison Square Garden Sports Corp. has a 52-week low of $173.26 and a 52-week high of $237.99.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last issued its quarterly earnings results 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 net margin of 5.33% and a negative return on equity of 20.50%. The firm had revenue of $424.20 million for the quarter, compared to analysts' expectations of $436.84 million. During the same period in the prior year, the company earned $1.57 EPS. The firm's quarterly revenue was down 1.3% on a year-over-year basis. Research analysts forecast that Madison Square Garden Sports Corp. will post 0.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the 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 transaction, the insider now directly owns 5,097 shares in the company, valued at approximately $968,022.24. This represents a 86.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.