GABELLI & Co INVESTMENT ADVISERS INC. Raises Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in shares of Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 157.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,631 shares of the company's stock after buying an additional 4,053 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC.'s holdings in Madison Square Garden Sports were worth $1,496,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. State Street Corp boosted its stake in Madison Square Garden Sports by 1.2% during the third quarter. State Street Corp now owns 549,108 shares of the company's stock worth $114,357,000 after acquiring an additional 6,640 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of Madison Square Garden Sports during the fourth quarter valued at about $1,032,000. Proficio Capital Partners LLC bought a new position in shares of Madison Square Garden Sports during the 4th quarter worth about $3,413,000. Levin Capital Strategies L.P. grew its stake in shares of Madison Square Garden Sports by 118.5% in the 4th quarter. Levin Capital Strategies L.P. now owns 3,039 shares of the company's stock valued at $686,000 after buying an additional 1,648 shares during the period. Finally, Wealthfront Advisers LLC acquired a new stake in shares of Madison Square Garden Sports in the 4th quarter valued at about $16,844,000. Institutional investors and hedge funds own 68.94% of the company's stock.

Madison Square Garden Sports Trading Up 1.4 %

Shares of MSGS traded up $2.69 during trading hours on Friday, reaching $191.52. The stock had a trading volume of 72,772 shares, compared to its average volume of 112,678. The firm has a 50-day simple moving average of $195.60 and a 200 day simple moving average of $212.41. Madison Square Garden Sports Corp. has a 12 month low of $173.26 and a 12 month high of $237.99. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 80.81 and a beta of 0.81.

Madison Square Garden Sports (NYSE:MSGS - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.25). Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. The business had revenue of $357.80 million during the quarter, compared to the consensus estimate of $352.68 million. During the same period last year, the business posted $0.59 earnings per share. The firm's quarterly revenue was up 9.5% on a year-over-year basis. On average, equities analysts forecast that Madison Square Garden Sports Corp. will post 0.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Macquarie increased their price target 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.

Insider Activity

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the business's stock in a transaction dated Monday, March 10th. The shares were 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. The trade was a 86.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 22.10% of the company's stock.

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.