American International Group Inc. Invests $45,000 in Madison Square Garden Sports Corp. (NYSE:MSGS)

American International Group Inc. bought a new position in shares of Madison Square Garden Sports Corp. (NYSE:MSGS) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 243 shares of the company’s stock, valued at approximately $45,000.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Madison Square Garden Sports during the fourth quarter worth approximately $187,090,000. Clearbridge Investments LLC bought a new stake in Madison Square Garden Sports in the fourth quarter valued at approximately $165,684,000. Long Pond Capital LP bought a new stake in Madison Square Garden Sports in the fourth quarter valued at approximately $157,685,000. Gamco Investors INC. ET AL bought a new stake in Madison Square Garden Sports in the fourth quarter valued at approximately $104,257,000. Finally, Gabelli Funds LLC acquired a new position in shares of Madison Square Garden Sports in the fourth quarter valued at approximately $70,756,000. Institutional investors own 70.34% of the company’s stock.

MSGS stock opened at $178.36 on Thursday. Madison Square Garden Sports Corp. has a 12 month low of $140.15 and a 12 month high of $242.34. The firm has a market cap of $4.30 billion, a P/E ratio of -32.79 and a beta of 1.00. The company’s 50-day moving average price is $190.29 and its two-hundred day moving average price is $180.41.

Madison Square Garden Sports (NYSE:MSGS) last released its earnings results on Tuesday, February 2nd. The company reported ($1.68) EPS for the quarter, missing the consensus estimate of ($1.46) by ($0.22). The business had revenue of $28.77 million for the quarter, compared to analysts’ expectations of $25.24 million. During the same quarter in the prior year, the company posted $3.93 earnings per share. The firm’s revenue for the quarter was down 95.4% on a year-over-year basis. As a group, equities research analysts forecast that Madison Square Garden Sports Corp. will post -5.79 EPS for the current fiscal year.

MSGS has been the subject of several recent research reports. Morgan Stanley increased their target price on shares of Madison Square Garden Sports from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, January 19th. Macquarie increased their price target on shares of Madison Square Garden Sports from $190.00 to $205.00 and gave the company an “outperform” rating in a research note on Thursday, February 4th. Barclays started coverage on shares of Madison Square Garden Sports in a research note on Monday, January 11th. They issued an “overweight” rating and a $224.00 price target for the company. Finally, Zacks Investment Research lowered shares of Madison Square Garden Sports from a “hold” rating to a “sell” rating in a research report on Thursday, February 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $205.89.

Madison Square Garden Sports Company Profile

Madison Square Garden Sports Corp. operates as a professional sports company. Its portfolio of assets include the New York Knickerbockers of the National Basketball Association (NBA), and the New York Rangers of the National Hockey League; two development league teams, including the Hartford Wolf Pack of the American Hockey League, and the Westchester Knicks of the NBA G League; Knicks Gaming, an esports franchise; and esports teams.

See Also: Index Funds

Institutional Ownership by Quarter for Madison Square Garden Sports (NYSE:MSGS)

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