Gabelli Funds LLC Purchases 1,488 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Gabelli Funds LLC raised its position in Madison Square Garden Sports Corp. (NYSE:MSGS) by 0.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 415,288 shares of the company’s stock after purchasing an additional 1,488 shares during the period. Gabelli Funds LLC’s holdings in Madison Square Garden Sports were worth $78,128,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of Madison Square Garden Sports by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 99,446 shares of the company’s stock valued at $18,082,000 after buying an additional 4,877 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Madison Square Garden Sports by 9.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 171,864 shares of the company’s stock valued at $31,250,000 after buying an additional 14,741 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Madison Square Garden Sports by 40.8% during the 4th quarter. Quadrant Capital Group LLC now owns 449 shares of the company’s stock valued at $82,000 after buying an additional 130 shares in the last quarter. Norges Bank purchased a new stake in shares of Madison Square Garden Sports during the 4th quarter valued at $35,002,000. Finally, SageView Advisory Group LLC purchased a new stake in shares of Madison Square Garden Sports during the 4th quarter valued at $253,000. 68.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Macquarie decreased their target price on shares of Madison Square Garden Sports from $240.00 to $235.00 and set an “outperform” rating on the stock in a research report on Friday, August 16th.

Madison Square Garden Sports Stock Down 1.2 %

Shares of NYSE:MSGS opened at $207.02 on Friday. The stock has a market cap of $4.96 billion, a PE ratio of 211.24 and a beta of 0.94. The company’s fifty day moving average is $201.63 and its 200 day moving average is $191.49. Madison Square Garden Sports Corp. has a 52 week low of $164.79 and a 52 week high of $213.26.

Madison Square Garden Sports (NYSE:MSGS) last released its quarterly earnings data on Tuesday, August 13th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.73. Madison Square Garden Sports had a net margin of 5.72% and a negative return on equity of 18.69%. The firm had revenue of $227.25 million for the quarter, compared to analysts’ expectations of $167.71 million. During the same quarter in the previous year, the company earned ($0.39) earnings per share. The company’s revenue for the quarter was up 79.1% compared to the same quarter last year. Sell-side analysts anticipate that Madison Square Garden Sports Corp. will post 1.39 EPS for the current year.

Insider Buying and Selling at Madison Square Garden Sports

In other Madison Square Garden Sports news, CEO James Lawrence Dolan sold 629 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $209.30, for a total value of $131,649.70. Following the transaction, the chief executive officer now owns 10,192 shares in the company, valued at $2,133,185.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 22.28% 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.