Odyssean LLC Purchases 15,203 Shares of Madison Square Garden Entertainment Corp. $MSGE

Odyssean LLC boosted its position in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 60.2% in the second quarter, Holdings Channel.com reports. The firm owned 40,452 shares of the company’s stock after purchasing an additional 15,203 shares during the quarter. Madison Square Garden Entertainment comprises 0.5% of Odyssean LLC’s portfolio, making the stock its 19th biggest holding. Odyssean LLC’s holdings in Madison Square Garden Entertainment were worth $3,272,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Madison Square Garden Entertainment during the fourth quarter worth about $45,000. Nykredit A S acquired a new position in shares of Madison Square Garden Entertainment in the second quarter valued at approximately $46,000. State of Wyoming acquired a new position in shares of Madison Square Garden Entertainment in the second quarter valued at approximately $62,000. CIBC Private Wealth Group LLC raised its holdings in Madison Square Garden Entertainment by 3,248.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,239 shares of the company’s stock valued at $67,000 after buying an additional 1,202 shares during the last quarter. Finally, CWM LLC raised its holdings in Madison Square Garden Entertainment by 15.1% in the 4th quarter. CWM LLC now owns 1,723 shares of the company’s stock valued at $93,000 after buying an additional 226 shares during the last quarter. 96.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MSGE shares. Guggenheim boosted their target price on shares of Madison Square Garden Entertainment from $82.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Wall Street Zen raised shares of Madison Square Garden Entertainment from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. The Goldman Sachs Group reiterated a “neutral” rating and set a $82.00 price target (up from $72.00) on shares of Madison Square Garden Entertainment in a report on Thursday, July 9th. Bank of America boosted their price objective on shares of Madison Square Garden Entertainment from $80.00 to $96.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Finally, Seaport Research Partners restated a “neutral” rating on shares of Madison Square Garden Entertainment in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $91.62.

Madison Square Garden Entertainment Price Performance

Madison Square Garden Entertainment stock opened at $80.96 on Wednesday. The stock’s 50 day moving average is $77.85 and its 200 day moving average is $68.60. The company has a debt-to-equity ratio of 11.80, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market cap of $3.27 billion, a P/E ratio of 58.66 and a beta of 0.56. Madison Square Garden Entertainment Corp. has a one year low of $38.97 and a one year high of $90.41.

Madison Square Garden Entertainment (NYSE:MSGE) last announced its earnings results on Wednesday, August 12th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.23. The business had revenue of $196.32 million for the quarter, compared to analysts’ expectations of $166.62 million. Madison Square Garden Entertainment had a return on equity of 480.83% and a net margin of 6.24%.The firm’s revenue was up 27.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.57) earnings per share. As a group, research analysts expect that Madison Square Garden Entertainment Corp. will post 2.5 EPS for the current year.

Insider Activity

In other news, EVP Philip Gerard D’ambrosio sold 9,907 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $74.48, for a total value of $737,873.36. Following the transaction, the executive vice president owned 15,772 shares in the company, valued at approximately $1,174,698.56. The trade was a 38.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 16.41% of the company’s stock.

Madison Square Garden Entertainment 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.