Madison Square Garden Entertainment Corp. $MSGE Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC raised its position in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 41.6% during the second quarter, Holdings Channel.com reports. The firm owned 18,259 shares of the company’s stock after buying an additional 5,368 shares during the period. Bleakley Financial Group LLC’s holdings in Madison Square Garden Entertainment were worth $730,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MSGE. KBC Group NV acquired a new stake in shares of Madison Square Garden Entertainment during the first quarter worth $31,000. Principal Financial Group Inc. lifted its position in Madison Square Garden Entertainment by 3.5% during the first quarter. Principal Financial Group Inc. now owns 20,713 shares of the company’s stock worth $678,000 after buying an additional 702 shares during the period. Envestnet Asset Management Inc. acquired a new stake in Madison Square Garden Entertainment in the 1st quarter worth about $1,334,000. Victory Capital Management Inc. grew its holdings in Madison Square Garden Entertainment by 2.5% in the 1st quarter. Victory Capital Management Inc. now owns 21,313 shares of the company’s stock valued at $698,000 after buying an additional 516 shares during the period. Finally, Pinnacle Associates Ltd. increased its stake in shares of Madison Square Garden Entertainment by 3.2% during the 1st quarter. Pinnacle Associates Ltd. now owns 12,836 shares of the company’s stock valued at $420,000 after acquiring an additional 398 shares during the last quarter. 96.86% of the stock is owned by hedge funds and other institutional investors.

Madison Square Garden Entertainment Price Performance

MSGE opened at $45.70 on Friday. Madison Square Garden Entertainment Corp. has a 52-week low of $28.29 and a 52-week high of $48.09. The company has a 50 day moving average of $43.01 and a two-hundred day moving average of $39.00. The company has a market cap of $2.17 billion, a P/E ratio of 60.13 and a beta of 0.49. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 60.61.

Madison Square Garden Entertainment (NYSE:MSGE) last posted its earnings results on Wednesday, August 13th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.03). Madison Square Garden Entertainment had a net margin of 3.97% and a negative return on equity of 458.14%. The business had revenue of $154.14 million for the quarter, compared to analyst estimates of $151.17 million. During the same quarter in the previous year, the firm posted $1.41 EPS. The business’s revenue was down 17.2% compared to the same quarter last year. On average, analysts expect that Madison Square Garden Entertainment Corp. will post 1.04 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MSGE. The Goldman Sachs Group raised their target price on shares of Madison Square Garden Entertainment from $42.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Wall Street Zen cut shares of Madison Square Garden Entertainment from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Weiss Ratings restated a “hold (c-)” rating on shares of Madison Square Garden Entertainment in a report on Saturday. Finally, Morgan Stanley lifted their target price on Madison Square Garden Entertainment from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, August 12th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $45.20.

Madison Square Garden Entertainment Company Profile

Madison Square Garden Entertainment Corp. engages in the provision of entertainment services. Its portfolio of venues includes The Garden, Radio City Music Hall, the Beacon Theatre, The Theater at Madison Square, and The Chicago Theatre. The company was founded in 1879 and is headquartered in New York, NY.