Systematic Financial Management LP Sells 29,227 Shares of Madison Square Garden Entertainment Corp. $MSGE

Systematic Financial Management LP decreased its position in Madison Square Garden Entertainment Corp. (NYSE:MSGE) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 863,872 shares of the company’s stock after selling 29,227 shares during the quarter. Madison Square Garden Entertainment makes up 1.1% of Systematic Financial Management LP’s portfolio, making the stock its 20th biggest holding. Systematic Financial Management LP’s holdings in Madison Square Garden Entertainment were worth $46,554,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MSGE. First Horizon Corp bought a new position in shares of Madison Square Garden Entertainment in the fourth quarter worth about $37,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Madison Square Garden Entertainment in the fourth quarter worth about $47,000. State of Alaska Department of Revenue bought a new position in shares of Madison Square Garden Entertainment in the third quarter worth about $59,000. State of Wyoming bought a new position in shares of Madison Square Garden Entertainment in the second quarter worth about $62,000. Finally, CWM LLC raised its stake in shares of Madison Square Garden Entertainment by 15.1% in the fourth quarter. CWM LLC now owns 1,723 shares of the company’s stock worth $93,000 after buying an additional 226 shares during the period. Institutional investors own 96.86% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on MSGE shares. Wall Street Zen downgraded Madison Square Garden Entertainment from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Guggenheim raised their price objective on Madison Square Garden Entertainment from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. BTIG Research reaffirmed a “buy” rating on shares of Madison Square Garden Entertainment in a research note on Thursday. 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. Finally, JPMorgan Chase & Co. raised their price objective on Madison Square Garden Entertainment from $63.00 to $67.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Madison Square Garden Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $64.33.

Madison Square Garden Entertainment Stock Up 0.2%

Shares of MSGE opened at $69.52 on Friday. The business’s 50 day moving average is $62.02 and its 200 day moving average is $57.64. The company has a market capitalization of $2.81 billion, a PE ratio of 68.16 and a beta of 0.61. Madison Square Garden Entertainment Corp. has a 12-month low of $35.31 and a 12-month high of $70.81. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 11.40.

Madison Square Garden Entertainment (NYSE:MSGE) last issued its earnings results on Thursday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.03). The business had revenue of $246.26 million for the quarter, compared to the consensus estimate of $242.99 million. Madison Square Garden Entertainment had a net margin of 4.81% and a return on equity of 4,795.27%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the business posted $0.17 EPS. Research analysts expect that Madison Square Garden Entertainment Corp. will post 1.28 earnings per share for the current fiscal year.

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.