Madison Square Garden Entertainment Corp. $MSGE Shares Acquired by Group One Trading LLC

Group One Trading LLC lifted its holdings in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 39,604.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,101 shares of the company’s stock after buying an additional 40,000 shares during the quarter. Group One Trading LLC owned 0.10% of Madison Square Garden Entertainment worth $2,362,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MSGE. Deutsche Bank AG lifted its holdings in Madison Square Garden Entertainment by 0.6% in the fourth quarter. Deutsche Bank AG now owns 32,473 shares of the company’s stock valued at $1,750,000 after acquiring an additional 181 shares during the period. CWM LLC grew its stake in shares of Madison Square Garden Entertainment by 15.1% during the 4th quarter. CWM LLC now owns 1,723 shares of the company’s stock worth $93,000 after purchasing an additional 226 shares during the period. Orion Porfolio Solutions LLC grew its stake in shares of Madison Square Garden Entertainment by 1.9% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 22,667 shares of the company’s stock worth $906,000 after purchasing an additional 418 shares during the period. XTX Topco Ltd increased its holdings in shares of Madison Square Garden Entertainment by 5.2% in the 4th quarter. XTX Topco Ltd now owns 8,681 shares of the company’s stock valued at $468,000 after purchasing an additional 427 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Madison Square Garden Entertainment by 6.2% in the 3rd quarter. Sei Investments Co. now owns 7,731 shares of the company’s stock valued at $350,000 after purchasing an additional 451 shares in the last quarter. Institutional investors and hedge funds own 96.86% of the company’s stock.

Insider Activity

In related news, EVP Philip Gerard D’ambrosio sold 9,907 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $74.48, for a total transaction of $737,873.36. Following the sale, the executive vice president owned 15,772 shares of the company’s stock, valued at $1,174,698.56. This trade represents a 38.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 16.41% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MSGE. The Goldman Sachs Group reissued a “neutral” rating and set a $82.00 price objective (up from $72.00) on shares of Madison Square Garden Entertainment in a report on Thursday, July 9th. Seaport Research Partners reaffirmed a “neutral” rating on shares of Madison Square Garden Entertainment in a report on Monday, June 29th. Guggenheim lifted their price target on shares of Madison Square Garden Entertainment from $74.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. JPMorgan Chase & Co. boosted their price target on Madison Square Garden Entertainment from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Weiss Ratings downgraded Madison Square Garden Entertainment from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 4th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $79.83.

Madison Square Garden Entertainment Trading Up 2.0%

Shares of Madison Square Garden Entertainment stock opened at $77.98 on Thursday. The company has a debt-to-equity ratio of 11.40, a current ratio of 0.72 and a quick ratio of 0.72. Madison Square Garden Entertainment Corp. has a 1 year low of $35.31 and a 1 year high of $82.79. The company has a market capitalization of $3.15 billion, a P/E ratio of 76.46 and a beta of 0.54. The business has a 50 day moving average price of $73.81 and a 200 day moving average price of $65.07.

Madison Square Garden Entertainment (NYSE:MSGE) last announced its earnings results on Thursday, May 7th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The company had revenue of $246.26 million for the quarter, compared to analyst estimates of $242.99 million. Madison Square Garden Entertainment had a net margin of 4.81% and a return on equity of 4,795.27%. Madison Square Garden Entertainment’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.17 EPS. Sell-side analysts anticipate that Madison Square Garden Entertainment Corp. will post 1.34 EPS for the current fiscal year.

Madison Square Garden Entertainment Company Profile

Madison Square Garden Entertainment Corp. (NYSE: MSGE) is a premier live entertainment company focused on producing and hosting a wide range of events across North America. Established as a separate publicly traded entity in April 2020 through a spin-off from Madison Square Garden Company, MSGE owns and operates iconic venues such as Madison Square Garden in New York City, Radio City Music Hall, The Chicago Theatre and Sphere in Las Vegas. These facilities serve as flagship stages for concerts, sports events, family shows and cultural performances.

The company’s core business activities center on venue management, event promotion and production services.