Gabelli Funds LLC Sells 3,990 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Gabelli Funds LLC decreased its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS) by 1.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 415,828 shares of the company’s stock after selling 3,990 shares during the period. Madison Square Garden Sports makes up about 0.7% of Gabelli Funds LLC’s portfolio, making the stock its 26th biggest position. Gabelli Funds LLC’s holdings in Madison Square Garden Sports were worth $93,844,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MSGS. Norges Bank acquired a new stake in shares of Madison Square Garden Sports in the 4th quarter valued at approximately $54,052,000. Empirical Asset Management LLC acquired a new stake in Madison Square Garden Sports in the fourth quarter valued at approximately $26,120,000. Wealthfront Advisers LLC bought a new stake in shares of Madison Square Garden Sports during the fourth quarter worth $16,844,000. Vanguard Group Inc. increased its holdings in shares of Madison Square Garden Sports by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 1,945,194 shares of the company’s stock worth $438,991,000 after buying an additional 33,641 shares in the last quarter. Finally, Monimus Capital Management LP acquired a new stake in shares of Madison Square Garden Sports during the 4th quarter valued at $6,030,000. 68.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Macquarie lifted their price target on Madison Square Garden Sports from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th.

Insider Activity

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the company’s 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 sale, the insider now owns 5,097 shares in the company, valued at $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 is available at the SEC website. Insiders own 22.10% of the company’s stock.

Madison Square Garden Sports Stock Performance

MSGS stock opened at $190.24 on Tuesday. Madison Square Garden Sports Corp. has a 52-week low of $173.26 and a 52-week high of $237.99. The company has a market capitalization of $4.57 billion, a P/E ratio of 80.27 and a beta of 0.81. The company has a fifty day moving average price of $196.95 and a 200-day moving average price of $212.95.

Madison Square Garden Sports (NYSE:MSGS) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $357.80 million during the quarter, compared to analyst estimates of $352.68 million. During the same period in the previous year, the company posted $0.59 EPS. The company’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, sell-side analysts forecast that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current fiscal year.

About Madison Square Garden Sports

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.