Gabelli Funds LLC Has $78.13 Million Holdings in 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 13F filing with the SEC. The fund owned 415,288 shares of the company’s stock after buying an additional 1,488 shares during the period. Gabelli Funds LLC owned 1.73% of Madison Square Garden Sports worth $78,128,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in Madison Square Garden Sports by 80.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 224 shares of the company’s stock valued at $42,000 after buying an additional 100 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Madison Square Garden Sports by 179.8% during the 2nd quarter. GAMMA Investing LLC now owns 263 shares of the company’s stock valued at $49,000 after acquiring an additional 169 shares during the period. Quadrant Capital Group LLC grew 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 acquiring an additional 130 shares during the period. Cape Investment Advisory Inc. grew its position in shares of Madison Square Garden Sports by 400.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 500 shares of the company’s stock valued at $91,000 after acquiring an additional 400 shares during the period. Finally, Quent Capital LLC grew its position in shares of Madison Square Garden Sports by 312.4% during the 1st quarter. Quent Capital LLC now owns 565 shares of the company’s stock valued at $104,000 after acquiring an additional 428 shares during the period. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Madison Square Garden Sports Stock Down 1.2 %

Madison Square Garden Sports stock opened at $207.02 on Friday. The firm has a 50 day moving average price of $201.63 and a 200-day moving average price of $191.49. The company has a market capitalization of $4.96 billion, a P/E ratio of 211.24 and a beta of 0.94. Madison Square Garden Sports Corp. has a twelve month low of $164.79 and a twelve month 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 EPS for the quarter, topping the consensus estimate of $0.33 by $0.73. The company had revenue of $227.25 million during the quarter, compared to the consensus estimate of $167.71 million. Madison Square Garden Sports had a net margin of 5.72% and a negative return on equity of 18.69%. Madison Square Garden Sports’s revenue for the quarter was up 79.1% on a year-over-year basis. During the same period last year, the firm earned ($0.39) EPS. Equities analysts expect that Madison Square Garden Sports Corp. will post 1.39 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO James Lawrence Dolan sold 629 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $209.30, for a total value of $131,649.70. Following the completion of the transaction, the chief executive officer now directly owns 10,192 shares of the company’s stock, valued at approximately $2,133,185.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 22.28% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

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.