OFI Invest Asset Management Takes $1.03 Million Position in Madison Square Garden Sports Corp. (NYSE:MSGS)

OFI Invest Asset Management acquired a new position in Madison Square Garden Sports Corp. (NYSE:MSGS) in the fourth quarter, HoldingsChannel reports. The fund acquired 4,733 shares of the company’s stock, valued at approximately $1,032,000.

A number of other hedge funds also recently added to or reduced their stakes in MSGS. Allworth Financial LP lifted its stake in Madison Square Garden Sports by 81.4% in the fourth quarter. Allworth Financial LP now owns 127 shares of the company’s stock worth $28,000 after acquiring an additional 57 shares during the period. Fifth Third Bancorp lifted its stake in Madison Square Garden Sports by 119.0% in the fourth quarter. Fifth Third Bancorp now owns 138 shares of the company’s stock worth $31,000 after acquiring an additional 75 shares during the period. Heck Capital Advisors LLC purchased a new stake in Madison Square Garden Sports in the fourth quarter worth about $43,000. Venturi Wealth Management LLC lifted its stake in Madison Square Garden Sports by 31.2% in the third quarter. Venturi Wealth Management LLC now owns 223 shares of the company’s stock worth $46,000 after acquiring an additional 53 shares during the period. Finally, Versant Capital Management Inc lifted its stake in Madison Square Garden Sports by 35.3% in the fourth quarter. Versant Capital Management Inc now owns 234 shares of the company’s stock worth $53,000 after acquiring an additional 61 shares during the period. 68.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Macquarie upped their price objective on shares of 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.

Madison Square Garden Sports Stock Performance

Shares of Madison Square Garden Sports stock opened at $196.91 on Monday. The company has a market capitalization of $4.73 billion, a PE ratio of 83.08 and a beta of 0.91. The company has a 50-day simple moving average of $212.36 and a two-hundred day simple moving average of $216.10. Madison Square Garden Sports Corp. has a one year low of $178.35 and a one year high of $237.99.

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