LPL Financial LLC Increases Stake in Madison Square Garden Sports Corp. (NYSE:MSGS)

LPL Financial LLC raised its holdings in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 12.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,272 shares of the company’s stock after buying an additional 244 shares during the quarter. LPL Financial LLC’s holdings in Madison Square Garden Sports were worth $513,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MSGS. Empirical Asset Management LLC purchased a new stake in Madison Square Garden Sports during the 4th quarter valued at about $26,120,000. Wealthfront Advisers LLC acquired a new position in shares of Madison Square Garden Sports during the 4th quarter worth approximately $16,844,000. Monimus Capital Management LP purchased a new stake in shares of Madison Square Garden Sports in the fourth quarter valued at approximately $6,030,000. Raymond James Financial Inc. acquired a new stake in shares of Madison Square Garden Sports in the fourth quarter valued at approximately $4,425,000. Finally, Miracle Mile Advisors LLC purchased a new position in Madison Square Garden Sports during the fourth quarter worth approximately $4,153,000. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Madison Square Garden Sports

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 5,097 shares of the company’s stock, valued at approximately $968,022.24. This trade represents a 86.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 22.10% of the company’s stock.

Analysts Set New Price Targets

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

Madison Square Garden Sports Trading Up 1.1 %

Madison Square Garden Sports stock opened at $191.74 on Friday. The stock has a market cap of $4.60 billion, a P/E ratio of 80.90 and a beta of 0.81. The company has a 50-day moving average price of $193.82 and a 200 day moving average price of $211.70. Madison Square Garden Sports Corp. has a 12-month low of $173.26 and a 12-month high of $237.99.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.25). The firm had revenue of $357.80 million for the quarter, compared to analyst estimates of $352.68 million. Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 EPS. As a group, analysts forecast that Madison Square Garden Sports Corp. will post 0.73 EPS 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 development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.