Tabor Asset Management LP Acquires 27,032 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Tabor Asset Management LP raised its stake in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) by 101.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 53,721 shares of the company’s stock after purchasing an additional 27,032 shares during the period. Madison Square Garden Sports accounts for about 5.8% of Tabor Asset Management LP’s holdings, making the stock its 2nd biggest position. Tabor Asset Management LP’s holdings in Madison Square Garden Sports were worth $12,124,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Allworth Financial LP lifted its holdings in Madison Square Garden Sports by 81.4% in the 4th quarter. Allworth Financial LP now owns 127 shares of the company’s stock worth $28,000 after purchasing an additional 57 shares during the last quarter. Fifth Third Bancorp lifted its position in Madison Square Garden Sports by 119.0% during the 4th quarter. Fifth Third Bancorp now owns 138 shares of the company’s stock worth $31,000 after acquiring an additional 75 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Madison Square Garden Sports in the fourth quarter valued at about $43,000. Headlands Technologies LLC increased its stake in shares of Madison Square Garden Sports by 1,016.7% in the fourth quarter. Headlands Technologies LLC now owns 268 shares of the company’s stock worth $60,000 after purchasing an additional 244 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in Madison Square Garden Sports by 423.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 272 shares of the company’s stock worth $62,000 after buying an additional 220 shares during the period. Institutional investors and hedge funds own 68.94% of the company’s stock.

Insider Buying and Selling at Madison Square Garden Sports

In other news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the firm’s 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 sale, the insider now directly owns 5,097 shares in the company, valued at approximately $968,022.24. This trade represents a 86.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 18.05% of the company’s stock.

Madison Square Garden Sports Trading Up 0.5%

MSGS stock opened at $197.69 on Monday. Madison Square Garden Sports Corp. has a 1-year low of $173.26 and a 1-year high of $237.99. The business’s 50 day moving average is $191.47 and its 200-day moving average is $208.74. The firm has a market cap of $4.75 billion, a P/E ratio of 83.42 and a beta of 0.78.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings results on Friday, May 2nd. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of $1.48 by ($2.07). 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 $424.20 million during the quarter, compared to analyst estimates of $436.84 million. During the same period in the prior year, the firm earned $1.57 EPS. Madison Square Garden Sports’s quarterly revenue was down 1.3% compared to the same quarter last year. Sell-side analysts forecast that Madison Square Garden Sports Corp. will post 0.73 EPS for the current year.

Analyst Upgrades and Downgrades

MSGS has been the topic of several research analyst reports. Macquarie raised their price target on shares of Madison Square Garden Sports from $240.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on Madison Square Garden Sports from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Morgan Stanley cut their price target on Madison Square Garden Sports from $235.00 to $215.00 and set an “equal weight” rating for the company in a report on Monday, May 5th. Susquehanna assumed coverage on Madison Square Garden Sports in a research report on Monday, April 28th. They issued a “positive” rating and a $254.00 price objective for the company. Finally, Guggenheim restated a “buy” rating and set a $314.00 price objective on shares of Madison Square Garden Sports in a research report on Tuesday, May 6th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $252.60.

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.