Sports stocks: Mario Gabelli names top sports stock picks!

The Chairman and CEO of GAMCO Investors, Mario Gabelli, has added to some of its positions on weakness, he told CNBC on Thursday.

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One of Gabelli’s top positions is Madison Square Garden Sports Corp (NYSE: MSGS). He expects the stock to hit $ 250 per share over the next 18 months. Madison Square Garden was up 0.06% at $ 185.87 at the time of publication.

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The New York Knicks hosted the Boston Celtics at the start of the season last night and won in double overtime. “Getting in the mood for games like this is important,” said Gabelli.

The hedge fund manager turned to another sports-related stock with his next pick: Liberty Braves Group (NASDAQ: BATRK). The Liberty Braves Group owns and operates the Atlanta Braves major league baseball team and Braves Holdings development projects.

Gabelli believes the company will be sold sometime in the next two years. He told CNBC that the selling price could be around $ 45 per share. At the time of publication, the stock was up 5.24% at $ 28.10. Finally, Gabelli said he has been a shareholder in for 30 yearsSouthwest Gas Holdings Inc (NYSE:SWX).

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The Las Vegas-based natural gas company recently announced the acquisition of Dominion Energy Questar Pipeline for $ 1.97 billion. Gabelli would like Southwest Gas to sell a portion of its Centuri subsidiary and use the proceeds to fund the Dominion Energy Questar Pipeline business.

Southwest Gas was up 1.92% at $ 68.64 at the time of publication. At the end of the interview, Gabelli predicted that the Dow Jones Industrial Average will reach the 80,000 mark within 10 years.

Photo: Geoff Livingston from Flickr.