Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in Madison Square Garden Sports Corp. (NYSE:MSGS)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Madison Square Garden Sports Corp. (NYSE:MSGS) by 28.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,983 shares of the company’s stock after purchasing an additional 892 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Madison Square Garden Sports were worth $899,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Allworth Financial LP grew its position in Madison Square Garden Sports by 81.4% during the fourth quarter. Allworth Financial LP now owns 127 shares of the company’s stock valued at $28,000 after acquiring an additional 57 shares during the last quarter. Versant Capital Management Inc grew its position in Madison Square Garden Sports by 35.3% during the fourth quarter. Versant Capital Management Inc now owns 234 shares of the company’s stock valued at $53,000 after acquiring an additional 61 shares during the last quarter. Fifth Third Bancorp grew its position in Madison Square Garden Sports by 119.0% during the fourth quarter. Fifth Third Bancorp now owns 138 shares of the company’s stock valued at $31,000 after acquiring an additional 75 shares during the last quarter. Insight Inv LLC grew its position in Madison Square Garden Sports by 1.5% during the third quarter. Insight Inv LLC now owns 6,665 shares of the company’s stock valued at $1,388,000 after acquiring an additional 100 shares during the last quarter. Finally, Central Pacific Bank Trust Division grew its position in Madison Square Garden Sports by 2.0% during the fourth quarter. Central Pacific Bank Trust Division now owns 5,100 shares of the company’s stock valued at $1,151,000 after acquiring an additional 100 shares during the last quarter. 68.94% of the stock is owned by hedge funds and other institutional investors.

Madison Square Garden Sports Stock Performance

Shares of Madison Square Garden Sports stock opened at $197.43 on Friday. The company’s 50 day moving average price is $206.81 and its 200-day moving average price is $214.86. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 83.30 and a beta of 0.91. Madison Square Garden Sports Corp. has a 52-week low of $178.35 and a 52-week high of $237.99.

Madison Square Garden Sports (NYSE:MSGS) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.05 earnings per share (EPS) 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 business had revenue of $357.80 million for the quarter, compared to analysts’ expectations of $352.68 million. During the same quarter in the prior year, the firm earned $0.59 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities research analysts forecast that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Macquarie raised their target price on shares of Madison Square Garden Sports from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th.

Insider Activity at Madison Square Garden Sports

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $189.92, for a total transaction of $6,044,204.00. Following the transaction, the insider now owns 5,097 shares in the company, valued at $968,022.24. The trade was a 86.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 22.10% of the stock is owned by company insiders.

Madison Square Garden Sports 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.