HighTower Advisors LLC Boosts Stock Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

HighTower Advisors LLC grew its holdings in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 0.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,705 shares of the company’s stock after buying an additional 156 shares during the period. HighTower Advisors LLC owned 0.08% of Madison Square Garden Sports worth $4,447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in MSGS. Wealthfront Advisers LLC acquired a new position in shares of Madison Square Garden Sports in the 4th quarter valued at $16,844,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Madison Square Garden Sports by 28.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,983 shares of the company’s stock valued at $899,000 after acquiring an additional 892 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Madison Square Garden Sports in the fourth quarter valued at approximately $1,032,000. Raymond James Financial Inc. acquired a new position in Madison Square Garden Sports in the fourth quarter valued at $4,425,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Madison Square Garden Sports in the fourth quarter valued at about $3,413,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Madison Square Garden Sports Price Performance

Madison Square Garden Sports stock opened at $194.42 on Thursday. The stock’s 50 day moving average price is $207.17 and its 200 day moving average price is $214.98. Madison Square Garden Sports Corp. has a 1-year low of $178.35 and a 1-year high of $237.99. The company has a market cap of $4.67 billion, a PE ratio of 82.03 and a beta of 0.91.

Madison Square Garden Sports (NYSE:MSGS) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.25). Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The company had revenue of $357.80 million for the quarter, compared to analyst estimates of $352.68 million. During the same period last year, the company earned $0.59 earnings per share. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities research analysts anticipate that Madison Square Garden Sports Corp. will post 0.73 EPS for the current fiscal year.

Insider Activity

In other Madison Square Garden Sports news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of Madison Square Garden Sports stock in a transaction dated 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 in the company, valued at approximately $968,022.24. The trade was a 86.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 22.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Macquarie boosted 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 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.