Zurcher Kantonalbank Zurich Cantonalbank Purchases 892 Shares of Madison Square Garden Sports Corp. (NYSE:MSGS)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Madison Square Garden Sports Corp. (NYSE:MSGS) by 28.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,983 shares of the company’s stock after purchasing an additional 892 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Madison Square Garden Sports were worth $899,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MSGS. Allworth Financial LP grew its position in shares of Madison Square Garden Sports by 81.4% during the 4th 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 period. Fifth Third Bancorp grew its position in shares of Madison Square Garden Sports by 119.0% during the 4th 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 period. Heck Capital Advisors LLC bought a new position in shares of Madison Square Garden Sports during the 4th quarter valued at approximately $43,000. Versant Capital Management Inc grew its position in shares of Madison Square Garden Sports by 35.3% during the 4th 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 period. Finally, Smartleaf Asset Management LLC grew its position in shares of Madison Square Garden Sports by 423.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 272 shares of the company’s stock valued at $62,000 after acquiring an additional 220 shares during the period. 68.94% of the stock is owned by institutional investors.

Madison Square Garden Sports Stock Performance

Shares of NYSE MSGS opened at $197.43 on Friday. The stock has a fifty day moving average of $206.81 and a 200-day moving average of $214.86. The stock has a market cap of $4.74 billion, a PE ratio of 83.30 and a beta of 0.91. Madison Square Garden Sports Corp. has a fifty-two week low of $178.35 and a fifty-two 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 for the quarter, missing the consensus estimate 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 company had revenue of $357.80 million for 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. The company’s quarterly revenue was up 9.5% on a year-over-year basis. On average, sell-side analysts predict that Madison Square Garden Sports Corp. will post 0.73 EPS for the current year.

Insiders Place Their Bets

In other news, insider F. Dolan 2009 Revocabl Charles sold 31,825 shares of Madison Square Garden Sports 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 completion of the sale, the insider now owns 5,097 shares in the company, valued at approximately $968,022.24. This trade represents a 86.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 22.10% of the company’s stock.

Analyst Ratings Changes

Separately, Macquarie raised 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 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.