Lazard Asset Management LLC Makes New $1.37 Million Investment in Madison Square Garden Sports Corp. (NYSE:MSGS)

Lazard Asset Management LLC bought a new position in Madison Square Garden Sports Corp. (NYSE:MSGS) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 6,091 shares of the company’s stock, valued at approximately $1,374,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Advisors Capital Management LLC grew its stake in Madison Square Garden Sports by 0.5% in the 4th quarter. Advisors Capital Management LLC now owns 10,606 shares of the company’s stock worth $2,394,000 after acquiring an additional 48 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in Madison Square Garden Sports by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 8,172 shares of the company’s stock worth $1,844,000 after acquiring an additional 50 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Madison Square Garden Sports by 9.2% in the 4th quarter. Quadrant Capital Group LLC now owns 650 shares of the company’s stock worth $147,000 after acquiring an additional 55 shares in the last quarter. Allworth Financial LP grew its stake 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 acquiring an additional 57 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in Madison Square Garden Sports by 2.2% in the 4th quarter. NewEdge Advisors LLC now owns 2,914 shares of the company’s stock worth $658,000 after acquiring an additional 62 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MSGS has been the topic of a number of research analyst reports. Morgan Stanley dropped their target price on shares of Madison Square Garden Sports from $235.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Monday, May 5th. 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. Macquarie increased their price objective on shares of Madison Square Garden Sports from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th. Susquehanna began coverage on shares of Madison Square Garden Sports in a research note on Monday, April 28th. They set a “positive” rating and a $254.00 price objective on the stock. Finally, Guggenheim reiterated a “buy” rating and set a $314.00 price objective on shares of Madison Square Garden Sports in a research note on Tuesday, May 6th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $252.60.

Insider Buying and Selling at Madison Square Garden Sports

In other Madison Square Garden Sports news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the firm’s 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 in the company, valued at $968,022.24. This trade represents a 86.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 18.05% of the stock is owned by insiders.

Madison Square Garden Sports Stock Up 0.5%

Shares of MSGS opened at $197.69 on Monday. The company has a market cap of $4.75 billion, a price-to-earnings ratio of 83.42 and a beta of 0.78. Madison Square Garden Sports Corp. has a twelve month low of $173.26 and a twelve month high of $237.99. The company has a 50 day moving average of $191.47 and a two-hundred day moving average of $208.74.

Madison Square Garden Sports (NYSE:MSGS) last announced its earnings results on Friday, May 2nd. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of $1.48 by ($2.07). The firm had revenue of $424.20 million during the quarter, compared to analyst estimates of $436.84 million. Madison Square Garden Sports had a net margin of 5.33% and a negative return on equity of 20.50%. Madison Square Garden Sports’s revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the business earned $1.57 earnings per share. On average, sell-side analysts expect that Madison Square Garden Sports Corp. will post 0.73 EPS for the current year.

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.