GAMCO Investors chairman and CEO Mario Gabelli has been adding to some of his positions on weakness, he said Thursday on CNBC.
One of Gabelli's top positions is Madison Square Garden Sports Corp (NYSE:MSGS).
He expects the stock to reach $250 per share sometime in the 18 months. Madison Square Garden was up 0.06% at $185.87 at time of publication.
The New York Knicks hosted the Boston Celtics in the team's season opener last night, a double-overtime win for the Knicks.
"The tune-in for games like that are important," Gabelli said.
The hedge fund manager turned to another sports-related stock with his next pick: Liberty Braves Group (NASDAQ:BATRK).
Liberty Braves Group owns and operates the Atlanta Braves Major League Baseball team and Braves Holdings' development projects.
Gabelli expects the company will be sold sometime in the next two years. He told CNBC it could sell for somewhere around $45 per share. At time of publication, the stock was up 5.24% at $28.10.
Lastly, Gabelli said he has been a shareholder of Southwest Gas Holdings Inc (NYSE:SWX) for 30 years.
The Las Vegas-based natural gas company recently announced a deal to acquire Dominion Energy Questar Pipeline for $1.97 billion. Gabelli wants Southwest Gas to sell a portion of its Centuri subsidiary and use the proceeds to fund the deal with Dominion Energy Questar Pipeline.
Southwest Gas was up 1.92% at $68.64 at time of publication.
At the conclusion of the interview, Gabelli predicted that the Dow Jones Industrial Average will reach the 80,000 level over a 10-year period.
Photo: Geoff Livingston from Flickr.