897 Shares in Madison Square Garden Sports Corp. (NYSE:MSGS) Bought by Obermeyer Wealth Partners

Obermeyer Wealth Partners acquired a new stake in Madison Square Garden Sports Corp. (NYSE:MSGS) during the fourth quarter, HoldingsChannel reports. The firm acquired 897 shares of the company’s stock, valued at approximately $202,000.

A number of other institutional investors also recently bought and sold shares of the business. Barclays PLC grew its holdings in shares of Madison Square Garden Sports by 8.4% during the third quarter. Barclays PLC now owns 14,668 shares of the company’s stock worth $3,056,000 after buying an additional 1,131 shares during the last quarter. Miracle Mile Advisors LLC purchased a new position in shares of Madison Square Garden Sports in the 4th quarter valued at approximately $4,153,000. Park Avenue Securities LLC increased its holdings in shares of Madison Square Garden Sports by 8.6% in the fourth quarter. Park Avenue Securities LLC now owns 4,263 shares of the company’s stock valued at $962,000 after purchasing an additional 339 shares during the period. Argent Capital Management LLC raised its stake in shares of Madison Square Garden Sports by 39.4% during the fourth quarter. Argent Capital Management LLC now owns 3,028 shares of the company’s stock worth $683,000 after purchasing an additional 856 shares during the last quarter. Finally, Empirical Asset Management LLC acquired a new stake in shares of Madison Square Garden Sports during the fourth quarter worth $26,120,000. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Madison Square Garden Sports from $240.00 to $230.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Guggenheim reissued a “buy” rating and set a $314.00 price target on shares of Madison Square Garden Sports in a report on Tuesday, May 6th. Susquehanna began coverage on Madison Square Garden Sports in a report on Monday, April 28th. They issued a “positive” rating and a $254.00 price objective on the stock. Macquarie increased their target price on Madison Square Garden Sports from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 25th. Finally, Morgan Stanley reduced 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. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $252.60.

Madison Square Garden Sports Stock Up 0.9%

Shares of NYSE MSGS opened at $196.92 on Wednesday. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 83.09 and a beta of 0.78. Madison Square Garden Sports Corp. has a 52 week low of $173.26 and a 52 week high of $237.99. The firm has a 50-day moving average price of $191.14 and a 200 day moving average price of $209.38.

Madison Square Garden Sports (NYSE:MSGS) last issued its earnings results on Friday, May 2nd. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $436.84 million. During the same period last year, the business posted $1.57 earnings per share. The company’s quarterly revenue was down 1.3% on a year-over-year basis. Equities research analysts expect that Madison Square Garden Sports Corp. will post 0.73 EPS for the current fiscal year.

Insider Transactions at Madison Square Garden Sports

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 that occurred on Monday, March 10th. The shares were 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 of the company’s stock, valued at approximately $968,022.24. The trade was a 86.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 18.05% 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.