T. Rowe Price Investment Management Inc. raised its position in Madison Square Garden Sports Corp. (NYSE:MSGS - Free Report) by 1,854.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 498,607 shares of the company's stock after purchasing an additional 473,090 shares during the quarter. T. Rowe Price Investment Management Inc. owned 2.08% of Madison Square Garden Sports worth $112,526,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in MSGS. OFI Invest Asset Management bought a new stake in shares of Madison Square Garden Sports during the 4th quarter valued at about $1,032,000. Proficio Capital Partners LLC bought a new stake in Madison Square Garden Sports in the fourth quarter valued at $3,413,000. Levin Capital Strategies L.P. boosted its position in shares of Madison Square Garden Sports by 118.5% during the 4th quarter. Levin Capital Strategies L.P. now owns 3,039 shares of the company's stock worth $686,000 after purchasing an additional 1,648 shares in the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of Madison Square Garden Sports in the 4th quarter valued at about $16,844,000. Finally, SG Americas Securities LLC acquired a new stake in Madison Square Garden Sports in the fourth quarter valued at approximately $685,000. Institutional investors own 68.94% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. Susquehanna started coverage on shares of Madison Square Garden Sports in a research note on Monday. They issued a "positive" rating and a $254.00 price objective on the stock. Macquarie lifted 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.
Read Our Latest Stock Analysis on MSGS
Insider Buying and Selling
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 on 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 directly 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 document filed with the Securities & Exchange Commission, which is available at this link. 22.10% of the stock is owned by insiders.
Madison Square Garden Sports Price Performance
Shares of MSGS traded down $1.97 during mid-day trading on Wednesday, hitting $191.47. The stock had a trading volume of 24,977 shares, compared to its average volume of 112,640. Madison Square Garden Sports Corp. has a 52 week low of $173.26 and a 52 week high of $237.99. The business has a fifty day moving average price of $193.05 and a 200-day moving average price of $211.24. The firm has a market cap of $4.60 billion, a P/E ratio of 80.79 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 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.25). The business had revenue of $357.80 million for the quarter, compared to analysts' expectations of $352.68 million. Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. Madison Square Garden Sports's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the company earned $0.59 earnings per share. As a group, research analysts expect that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current fiscal year.
Madison Square Garden Sports Company Profile
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Free Report)
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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