Madison Square Garden Sports Corp. (NYSE:MSGS) is Boyar Asset Management Inc.’s 7th Largest Position

Boyar Asset Management Inc. lessened its position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 1.1% during the 4th quarter, Holdings Channel reports. The firm owned 21,659 shares of the company’s stock after selling 230 shares during the quarter. Madison Square Garden Sports comprises 3.2% of Boyar Asset Management Inc.’s portfolio, making the stock its 7th largest holding. Boyar Asset Management Inc.’s holdings in Madison Square Garden Sports were worth $4,888,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MSGS. T. Rowe Price Investment Management Inc. grew its holdings in Madison Square Garden Sports by 1,854.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 498,607 shares of the company’s stock worth $112,526,000 after acquiring an additional 473,090 shares during the period. Norges Bank acquired a new stake in shares of Madison Square Garden Sports during the 4th quarter worth approximately $54,052,000. Empirical Asset Management LLC purchased a new position in shares of Madison Square Garden Sports during the 4th quarter valued at approximately $26,120,000. Wealthfront Advisers LLC purchased a new stake in Madison Square Garden Sports during the fourth quarter worth $16,844,000. Finally, First Trust Advisors LP boosted its stake in shares of Madison Square Garden Sports by 377.1% during the 4th quarter. First Trust Advisors LP now owns 57,879 shares of the company’s stock worth $13,062,000 after acquiring an additional 45,748 shares in the last quarter. 68.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MSGS shares. Macquarie upped their price target on Madison Square Garden Sports from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. Susquehanna initiated coverage on Madison Square Garden Sports in a research note on Monday. They set a “positive” rating and a $254.00 target price for the company.

Madison Square Garden Sports Stock Down 0.9 %

MSGS opened at $193.56 on Wednesday. The company has a market cap of $4.65 billion, a price-to-earnings ratio of 81.67 and a beta of 0.81. The firm’s fifty day simple moving average is $193.05 and its two-hundred day simple moving average is $211.24. Madison Square Garden Sports Corp. has a 52-week low of $173.26 and a 52-week high of $237.99.

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 analysts’ consensus estimates 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 analysts’ expectations of $352.68 million. During the same period in the prior year, the business posted $0.59 earnings per share. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, research analysts forecast that Madison Square Garden Sports Corp. will post 0.73 EPS for the current year.

Insider Transactions at Madison Square Garden Sports

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $189.92, for a total value of $6,044,204.00. Following the completion of the transaction, the insider now directly owns 5,097 shares of the company’s stock, valued at approximately $968,022.24. This represents a 86.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 22.10% of the company’s stock.

Madison Square Garden Sports Company 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.