Raymond James Financial Inc. Purchases New Shares in Madison Square Garden Sports Corp. (NYSE:MSGS)

Raymond James Financial Inc. acquired a new position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 19,609 shares of the company’s stock, valued at approximately $4,425,000.

Other hedge funds have also bought and sold shares of the company. Proficio Capital Partners LLC bought a new stake in shares of Madison Square Garden Sports in the 4th quarter worth about $3,413,000. Charles Schwab Investment Management Inc. raised its position in Madison Square Garden Sports by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 115,530 shares of the company’s stock worth $26,073,000 after purchasing an additional 3,675 shares during the period. Smartleaf Asset Management LLC lifted its stake in Madison Square Garden Sports by 423.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 272 shares of the company’s stock worth $62,000 after purchasing an additional 220 shares during the last quarter. Levin Capital Strategies L.P. boosted its position in shares of Madison Square Garden Sports by 118.5% during the fourth quarter. Levin Capital Strategies L.P. now owns 3,039 shares of the company’s stock valued at $686,000 after buying an additional 1,648 shares during the period. Finally, IFP Advisors Inc raised its holdings in shares of Madison Square Garden Sports by 134.8% in the fourth quarter. IFP Advisors Inc now owns 540 shares of the company’s stock worth $122,000 after buying an additional 310 shares during the period. Institutional investors own 68.94% of the company’s stock.

Insiders Place Their Bets

In related news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of the company’s stock in a transaction dated 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 $968,022.24. This represents a 86.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 22.10% of the stock is currently owned by company insiders.

Madison Square Garden Sports Trading Down 0.9 %

NYSE MSGS opened at $197.49 on Wednesday. Madison Square Garden Sports Corp. has a 12 month low of $178.35 and a 12 month high of $237.99. The company’s 50-day moving average price is $205.91 and its 200-day moving average price is $214.84. The stock has a market cap of $4.74 billion, a PE ratio of 83.33 and a beta of 0.91.

Madison Square Garden Sports (NYSE:MSGS) last issued 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). Madison Square Garden Sports had a negative return on equity of 20.50% and a net margin of 5.33%. The company had revenue of $357.80 million during the quarter, compared to the consensus estimate of $352.68 million. During the same quarter in the prior year, the company earned $0.59 earnings per share. Madison Square Garden Sports’s revenue was up 9.5% on a year-over-year basis. As a group, sell-side analysts forecast that Madison Square Garden Sports Corp. will post 0.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Macquarie boosted their price objective on Madison Square Garden Sports from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th.

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.