Billionaire Gabelli’s 5 Stock Picks with Huge Upside Potential

3. Madison Square Garden Sports Corp. (NYSE:MSGS)

GAMCO Investors’ Stake Value: $100,319,108

Upside Potential as of November 28: 46.26%

Madison Square Garden Sports Corp. (NYSE:MSGS) is a leading professional sports company with assets including the New York Knicks (NBA) and the New York Rangers (NHL), as well as two development league teams – the Westchester Knicks (NBAGL) and the Hartford Wolf Pack (AHL). It also operates MSG Training Center in Greenburgh, a professional sports team performance center.

Madison Square Garden Sports Corp. (NYSE:MSGS) posted a strong quarterly performance in the quarter ended September 30, 2023. Its revenue increased by 79% y-o-y to $43 million while net loss remained nearly constant y-o-y at $19 million. It managed to beat consensus estimates for normalized EPS by $0.73 with quarterly figures of -$0.79.

Madison Square Garden Sports Corp. (NYSE:MSGS) ranks 3rd on our list of billionaire Gabelli’s 10 stock picks with huge upside potential. The shares of the company were owned by 39 hedge funds with a total value of $1.0 billion. GAMCO Investors 0.6 million shares of the company, valued at $100 million. The stock accounted for 1.16% weightage in the firm’s 13F portfolio.