Raymond James & Associates Increases Stake in Madison Square Garden Sports Corp. (NYSE:MSGS)

Raymond James & Associates grew its holdings in Madison Square Garden Sports Corp. (NYSE:MSGS) by 0.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,131 shares of the company’s stock after acquiring an additional 61 shares during the quarter. Raymond James & Associates’ holdings in Madison Square Garden Sports were worth $1,660,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Madison Square Garden Sports by 7.5% in the third quarter. Vanguard Group Inc. now owns 1,867,989 shares of the company’s stock valued at $329,326,000 after buying an additional 130,745 shares in the last quarter. Ariel Investments LLC increased its position in shares of Madison Square Garden Sports by 5.1% in the first quarter. Ariel Investments LLC now owns 1,122,903 shares of the company’s stock valued at $201,403,000 after buying an additional 54,891 shares in the last quarter. BlackRock Inc. increased its position in shares of Madison Square Garden Sports by 1.0% during the first quarter. BlackRock Inc. now owns 777,860 shares of the company’s stock worth $151,566,000 after purchasing an additional 7,364 shares in the last quarter. Gamco Investors INC. ET AL increased its position in shares of Madison Square Garden Sports by 0.7% during the first quarter. Gamco Investors INC. ET AL now owns 641,995 shares of the company’s stock worth $115,148,000 after purchasing an additional 4,297 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Madison Square Garden Sports by 1.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 523,511 shares of the company’s stock worth $102,007,000 after purchasing an additional 6,414 shares in the last quarter. 68.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO David G. Hopkinson sold 937 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $192.21, for a total value of $180,100.77. Following the transaction, the chief operating officer now owns 2,385 shares of the company’s stock, valued at approximately $458,420.85. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Chairman James Lawrence Dolan sold 8,236 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $190.25, for a total value of $1,566,899.00. Following the transaction, the chairman now owns 221,586 shares of the company’s stock, valued at approximately $42,156,736.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO David G. Hopkinson sold 937 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $192.21, for a total value of $180,100.77. Following the completion of the transaction, the chief operating officer now directly owns 2,385 shares in the company, valued at approximately $458,420.85. The disclosure for this sale can be found here. Insiders have sold a total of 46,176 shares of company stock valued at $8,661,793 in the last quarter. Insiders own 22.28% of the company’s stock.

Madison Square Garden Sports Stock Performance

Shares of MSGS opened at $179.27 on Friday. Madison Square Garden Sports Corp. has a one year low of $164.79 and a one year high of $215.79. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 112.75 and a beta of 0.94. The stock has a 50 day moving average price of $185.52 and a 200 day moving average price of $179.80.

Madison Square Garden Sports (NYSE:MSGS) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.37 by $0.22. Madison Square Garden Sports had a negative return on equity of 11.27% and a net margin of 4.38%. The firm had revenue of $326.90 million during the quarter, compared to analysts’ expectations of $325.86 million. During the same period in the previous year, the business earned $0.84 earnings per share. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. On average, analysts predict that Madison Square Garden Sports Corp. will post 2.11 earnings per share for the current year.

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 two development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.